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05:04AM (15 mins delay)
Jun 19, 2009 - 10:28 AM EDT
Harry Long submits:The key to financial stability and reform at major banks is simple. The President, through his force of stature, could go to the nation's most successful and conservative banks, such as Hudson City Bancorp (HCBK) and request that some of these banks' executives and loan officers be placed in leadership positions at problem financial institutions. Of course, the incompetent executives they replace would have to be fired.
Most well run banks would naturally view losing talented executives as a raiding of their ranks, and rightly, as a penalty, rather than a reward, for their excellent performance. The government could issue to these well-run banks modest amounts of stock options in problem banks where their former executives have been placed as partial recompense for the loss of talented executives and the strengthening of competitors.
Source: Seeking Alpha (Jun 19, 2009 - 10:28 AM EDT)
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