Two major Wall Street firms say their execs will face the same repercussions for misconduct as everybody else at the company -- but it's not clear how often those consequences are actually enforced. Goldman Sachs and Morgan Stanley have both recently confirmed that their clawback policies -- the rules stipulating that an employee who takes risks that damage the company will have to give back some portion of their pay -- apply to senior members and executives in addition to workers further down the company ladder, according to The Wall Street Journal.
But at the same time, it's "rare" in practice for a bank to actually impose clawbacks, as a lawyer quoted in the WSJ notes -- news that may come as little surprise to anyone familiar with Wall Street's record of resistance on this issue….
Find out more at http://www.huffingtonpost.com/2012/02/08/goldman-sachs-morgan-stanley-clawbacks_n_1263026.html?ref=business
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