General Electric Chief Executive Jeffrey Immelt with Norman Pearlstine
In this clip, Norman Pearlstine asks Jeffrey Immelt about executive compensation, and for his views on Wall St. or Congress after watching the recent Congressional hearings for Goldman Sachs. “Financial services is a very important industry in this country,” Immelt replied, continuing:
“I just think this point about damning Wall Street isn’t good for the American economy. Number one. Number two, I wish they’d take care of their own compensation. It just shouldn’t be this kind of problem. I trust them to manage their own reputation. Because we need them. We need Wall Street…
People need to tone down the rhetoric around financial services, and stop the populism.”
Read more coverage from
Bloomberg News,
Reuters and
Daily Finance. What’s your take on the issue?
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