Profs. Hill and Painter's Book Discussed in NYT's Column

Professor Claire Hill and Professor Richard Painter's recent book, "Better Bankers, Better Banks," was discussed in a column by Gretchen Morgenson in the New York Times. The article described their proposal, for "covenant banking," in which highly compensated bankers have personal liability under certain circumstances if their banks become insolvent or are fined. Ms. Morgenson concluded: "Tighter regulations and billions in fines levied on financial firms have had little impact on banking culture, as the Barclays and Credit Suisse cases make clear. It’s high time to up the ante."