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When banks failed, the government paid up. But the bankers responsible kept their bonuses from the years of excess. This column argues for “crisis contracts”. Such contracts require that, in the event of a crisis, bank managers forfeit a portion of their past earnings to rescue the banking system.
Journal / seriesVOX CEPR's Policy Portal
PublisherCentre for Economic Policy Research
Organisational unit03729 - Gersbach, Hans
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