Mr. Mack also said that with financial reform would come an eventual cap on the outsized Wall Street profits of recent memory. “Without question,” he said of proposed limits on leverage. “It will” have an affect on earnings.
With that would also come an eventual come-down from the sometimes stratospheric highs of financial executives’ compensation. But regarding his rival, Goldman Sachs chief Lloyd C. Blankfein, Mr. Mack said that shareholders have already voted — via Goldman’s stock price.
“Look at the performance of the stock and how shareholders should feel and what they’ve delivered,” he said. “If you base it on that, I think clearly he was fairly compensated and he deserved to be paid.”
The full transcript is available at:http://dealbook.blogs.nytimes.com/2010/03/22/mack-we-still-need-financia...