Essentially everybody's postulating the same prescription, restructure for accountability and transparency. How to accomplish this incrementally without throwing the world into a Mad Max state of economic chaos is the conundrum.
I rather suspect that if we had a formal "no bailout" policy - and actually stuck to it - the problem would largely self-regulate. But I'm not sure it's possible without also modifying the Fed's SOP, since they provide a backdoor bailout mechanism. Anyway, this is likely all rather moot, since as a society we're simply not willing to do this, and I see little indication that is going to change.
I dunno... I am encouraged by the fact that there appears to be a mini shareholder revolt occurring as we speak. Moreover, in the UK they have done something similar w/pension trustees, so there's hope. However, who knows...
Yeah... Who knows... They have tried to change the payment structure of the CEOs in Germany (take the Deutsche Bank (Ackermann) for example)... I'm sure you khow how it worked out. As far as the pension trustees are concerned, well I guess we are comparing apples with oranges here. You know what I mean.
ISDA Set to Decide on CDS Rules Revamp Within Weeks http://blogs.wsj.com/marketbeat/2012/04/30/isda-set-to-decide-on-cds-rules-revamp-within-weeks/