The financial world is adjusting to the new rules. The first is that you can’t pay bonuses. The second is that you can’t plan events in Las Vegas — you have to do it in San Francisco instead, where the Speaker of the House is from. And the third is that you can’t fly to DC to testify. That’s gauche.
Bloomberg: Like auto industry executives before them, most bankers will shun corporate aircraft for the trip to the nation’s capital. Bank of America Corp. CEO Kenneth Lewis was set to take an eight-hour train ride from his bank’s headquarters in Charlotte, North Carolina, a spokesman said.
But is he riding in the first class cabin, and will he be one of those hogs who spends all his time spread out with his laptop in the food car? Cause if he’s going to do that, we’d rather he just take a corporate jet and everyone else.
Now we need to find out how the rest of the bankers at today’s hearings plan to get down there. Now doubt they’ll get a fierce grilling on this if they do the wrong thing.
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