Excerpt from 'The World Is Curved: Hidden Dangers to the Global Econom... Books

Book Excerpt Follow the Money

Read this excerpt of David M Smick' s book < i> The World Is Curved< i>

The regulatory community hardly enjoys a distinguished track record in the measuring of risk. The truth is, all the regulators in the subprime debacle were caught asleep at the switch, but cannot be blamed completely. A well-intentioned government bureaucrat is no match for the kind of creative and clever market wizards, and their lawyers, who begin searching for legal means around any regulatory constraint the instant the regulations are put in place. Today a senior Securities and Exchange Commission officer earns between $143,000 and $216,000 per year. Even junior executive decision-makers at Goldman Sachs garner annual compensation packages in the millions of dollars. In 2006 average Goldman employee compensation was $622,000, with some administrative assistants and secretaries earning more than $200,000. —From The World Is Curved: Hidden Dangers to the Global Economy by David M. Smick, Portfolio/Penguin. Copyright David M. Smick, 2008. Featured AARP Member Benefits See more Entertainment offers > See more Entertainment offers > See more Entertainment offers > See more Entertainment offers > Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures

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