Bank regulator sees risk in pay czar rulings

Source: Reuters

Tarp : Germany | about 1 month ago

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Bank of America immediately balked, saying that Feinberg's rulings would put it at a disadvantage as it competes with firms not under the pay czar's thumb. The bank said its employees were already being poached by rivals. Dugan also discussed the need to strengthen the administration's plan for dealing...

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News Stories

Atlanta Journal Constitution: Wall Street bonuses wrongly blamed for U.S. ...

News Source: Androscoggin News | about 1 month ago

Seeking to assuage that ire, the Obama administration’s “compensation czar,” Kenneth Feinberg, last week announced plans to cut the pay of top executives at the seven companies receiving federal support. He has suggested that the cuts, which...
Wall Street adds insult to injury | Dean Baker

News Source: The Guardian | about 1 month ago

Wall Street adds insult to injury Bailed-out bankers don't deserve million-dollar salaries, no matter how much they complain about limits on executive pay Most people would have little difficulty getting by on $200,000 a year . Most people who had...
Bank regulator sees risk in pay czar rulings

News Source: Reuters | about 1 month ago

Bank of America immediately balked, saying that Feinberg's rulings would put it at a disadvantage as it competes with firms not under the pay czar's thumb. The bank said its employees were already being poached by rivals. Dugan also discussed the...
Cuts ordered after salary bonanza at bail-out firms

News Source: Sydney Morning Herald | about 1 month ago

Bank of America paid top executives an average of $US18.2 million ($19.7 million) each last year, when the banks took a total of $US90 billion in taxpayer funds to survive the financial crisis. Citigroup, based in New York, paid $US390.2 million to...
Executive Pay Cuts Rekindle “Say-on-Pay” Flame in Washington

News Source: Money Morning | about 1 month ago

Last week’s decision by the Obama administration to cut and limit the pay of executives at bailed out companies is generating a lot of press, but it’s the moves by Congress that would give investors a “say on pay” that will have the broader...
Bailout ought to come at a cost to recipients

News Source: Herald Net | about 1 month ago

Feinberg said it wouldn't be fair to be punitive about executive compensation, but it was important to set limits. I'm not sure that I agree with him on being punitive, but I'll settle for setting limits. That the greatest minds for so many financial...