Raskin Says Bonus Rules Should Be Revisited at Fed

The transcript discusses the lack of a finalized incentive-based compensation rule despite the Dodd Frank Act's requirements. It highlights the increase in CEO pay ratios and related scandals, such as the London Whale and Wells Fargo incidents. The speaker commits to working with financial regulators to implement the necessary rules.

What was the primary legislative action taken by Congress to regulate financial practices?

• The Dodd-Frank Act

• The Sarbanes-Oxley Act

• The Gramm-Leach-Bliley Act

• The Glass-Steagall Act

What has been a significant consequence of not having a strong incentive-based compensation rule?

• Rise in CEO-to-worker pay ratio

• Reduction in financial scandals

• Increase in financial stability

• Decrease in CEO-to-worker pay ratio

Which of the following scandals is linked to executive pay incentives?

• Enron Scandal

• London Whale

• Bernie Madoff Ponzi Scheme

• Lehman Brothers Collapse

What is the current status of the incentive-based compensation rule as per the Dodd-Frank Act?

• Guidance exists but no rule

• Partially implemented

• Fully implemented

• No guidance or rule

What commitment is being sought from the financial regulators regarding the Dodd-Frank Act?

• To develop a strong incentive-based compensation rule

• To repeal the Act

• To reduce financial regulations

• To increase executive pay