The financial crisis has sparked an outcry for justice. And Dylan Ratigan has some ideas on how to make things right.
Ratigan is among an increasing number of Wall Street watchers who are calling for clawbacks. What’s a clawback? Investopediadefines clawbacks as previously given monies that are taken back due to specially arising circumstances..
The latest person to hop on the clawbacks bandwagon is Sen. Charles Schumer.Last night on Fast Money he told us, “I think there’s a real thirst to deal with this issue.. and the people who made high salaries when their business was a house of cards, should pay a price when the business is doing poorly."
On Friday's Fast Money Dylan Ratigan and Jon Najarian made a case that Robert Rubin, the former Treasury Secretary, who resigned from Citigroup should return at least some of his compensation.
On Rubin's Watch - Gov't Aide Toward Citi
*$25 Bln During Industry Bailout
*$20 Bln For Citi Alone
*Backing $306 Bln in Citi Assets
*Expanded FDIC Insurance