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See, That Wasn't So Hard

Interesting article in the Wall Street Journal today about the estate of bankrupt Lehman Brothers winning a court case to reclaim bonuses paid to brokers as an advance on expected compensation, which didn't happen due to the collapse.  "Lehman Pursues Former Broker Bonuses

Now, if they can get the money back from lowly brokers, why can't contracts be written to get back the billions in compensation paid to the big shots while they were running the banks into the ground?  Well, of course, they can.  As this case shows, it's merely a matter of drafting the contracts. 

Now, I know, advancing brokers bonuses for expected future comp isn't the same thing and bankruptcy rules don't always apply and no one can go back and re-write contracts to be applicable before the last collapse.

But, given all these banking executives said either they had nothing to do with the collapse of their banks or they didn't have any idea what was going on in their banks with the complex derivatives, etc., then shouldn't they all be required to have contacts NOW that say if that ever happens again then they have to pay back all the compensation they got during the time they were supposed to know what was going on at their banks? 

Not that fairness has anything to do with it, but it seems only fair that if you're going to go after the brokers, you should also go after the executives.

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