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Rajan and Kashyap, meanwhile, advocated reforms in the compensation packages of Wall Street traders and C.E.O.s.
The stratospheric pay packages of Wall Street executives have become a lightning rod issue as Congress shapes a $700 billion bailout for financial firms.
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That's the rule under the terms of the Durbin amendment, which is part of the Dodd-Frank package of Wall Street banking reforms.
Although Obama may not want to sign a standalone package of Wall Street deregulation into law, bipartisan legislation could be inserted into a broader bill that the president might find difficult to reject.
Because of the changing nature of analysts' compensation packages on Wall Street, ownership stakes among these people are more and more common.
In the latest rebuke of eye-popping pay packages on Wall Street, a major institutional investor is taking the rare step to oppose the re-election of a Goldman Sachs board member who approves compensation for many of the bank's top executives.
He said the likelihood of a revived bail-out package for Wall Street would help ease rates.
Mr. Cayne's package put him ahead of Wall Street peers like the chief executive of the Goldman Sachs Group, Henry Paulson, who made $12.1 million, and Philip Purcell of Morgan Stanley, who made $11 million.
Unfortunately, Obama's new stimulus package to Wall Street, the $50 billion dollar mortgages buy-out, which guarantees 90% of forclosures to wall street fat-cats, is all Obama's choosing.
The State Department and CIA offer unique careers in diplomacy and intelligence with compensation packages that may fall short of Wall Street and Silicon Valley but remain equal to, or better than, those in academia and the nonprofit sector.
Former Treasury Secretary and Goldman Sachs chief Henry Paulson is the latest critic of Wall Street pay packages, which he now says are "out of whack".
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