The great bank escape

The past year has been replete with futile efforts to manage the outsize grip that banks and bankers have on the world economy. The global financial system remains distorted and dangerous. Since the 1980s, “shareholder value” has increasingly become the focus of corporate governance. Managers and board members often receive stock-based compensation, which gives them equity ownership rights and, in turn, creates a powerful incentive to maximize the market value of their companies’ shares.

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