Skin in the Game

Warren Buffet says that it's high time CEOs of financial institutions assume their own salary is at stake when they make investment decisions for their companies.

Warren Buffet says that it's high time CEOs of financial institutions assume their own salary is at stake when they make investment decisions for their companies. "Buffett has been criticizing overreaching corporate managers and complaisant directors for decades. But the question of how to motivate good corporate behavior has taken on new weight as Washington debates reining in the financial giants whose missteps brought the economy to its knees two years ago. The Obama administration last month proposed separating banks' proprietary trading activities from their federally subsidized deposit-gathering and lending ones. Other proposed rules would increase the amount of capital banks hold against losses and how much cash they carry to deal with a surge of withdrawals. But Buffett said there's a simpler way to cap risk-taking: Forcing lavishly compensated CEOs to take responsibility for assessing the risks at their firms -- and putting their own wealth at stake, to boot. 'It is the behavior of these CEOs and directors that needs to be changed,' he wrote. 'They have long benefitted from oversized financial carrots; some meaningful sticks now need to be employed as well.'"

James Patterson on writing: Plotting, research, and first drafts

The best-selling author tells us his methods.

Videos
  • James Patterson has sold 300 million copies of his 130 books, making him one of the most successful authors alive today.
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How to vaccinate the world’s most vulnerable? Build global partnerships.

Pfizer's partnerships strengthen their ability to deliver vaccines in developing countries.

Susan Silbermann, Global President of Pfizer Vaccines, looks on as a health care worker administers a vaccine in Rwanda. Photo: Courtesy of Pfizer.
Sponsored
  • Community healthcare workers face many challenges in their work, including often traveling far distances to see their clients
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Why the White House Correspondents’ Association dinner won’t feature a comedian in 2019

It's the first time the association hasn't hired a comedian in 16 years.

(Photo by Anna Webber/Getty Images for Vulture Festival)
Culture & Religion
  • The 2018 WHCA ended in controversy after comedian Michelle Wolf made jokes some considered to be offensive.
  • The WHCA apologized for Wolf's jokes, though some journalists and many comedians backed the comedian and decried arguments in favor of limiting the types of speech permitted at the event.
  • Ron Chernow, who penned a bestselling biography of Alexander Hamilton, will speak at next year's dinner.
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