IMF's Lagarde: Bankers' pay needs reform

International Monetary Fund Managing Director Christine Lagarde called Wednesday for more reform to bankers' compensation, saying they are still encouraged by their pay packages to take too much risk. "Incentives related to compensation practices need to change, so that rewards are no longer so much tied to myopic actions and excessive risk taking," she told a forum co-hosted by the Institute for New Economic Thinking in Washington. "Compensation packages can be structured to