How’s this for absurdity?
Citing unnamed Democratic officials, The Associated Press reports that there’s “pressure” on Congress to drop the executive pay limits for bailed-out banks as lawmakers reconcile the differences between the House and Senate stimulus bills.
The reason? It would cost taxpayers too much.
The CEO of Netflix, the wildly successful Internet company that rents DVDs via the mail, says President Obama is off the mark in trying to cap executive compensation. In an op-ed in The New York Times today, Reed Hastings writes that the government should take in taxes half of More…
Something strange has happened to Senate Democrats.
Just a few weeks ago, few showed any interest in taking up House-passed legislation that would rein in executive pay for companies that accepted cash under the Troubled Assets Relief Program. Instead, party leaders said they’d trust the new administration to spend More…
With Treasury Secretary Tim Geithner by his side, President Barack Obama just announced the highly anticipated new executive pay limits for companies receiving taxpayer help under the $700 billion Troubled Assets Relief Program.
“In order to restore our financial system, we’ve got to restore trust,” Obama said. “And in order More…
Following up on Mary’s post, it’s also worth noting that the $500,000 executive-pay limit for bailed out banks to be unveiled today by the White House seems to apply to total compensation — meaning salary, bonuses, stock options*, everything.
That would be a sharp break from the Bush More…
President Obama’s expected moves today to limit pay, bonuses and perks for executives of companies that get government bailouts, reflect a kind of populist anger not seen in decades, Bloomberg reports.
Thomas Mann, a scholar at the Brookings Institution in Washington, said the anger hasn’t been this pronounced
When Sen. Claire McCaskill (D-Mo.) Friday called Wall Street executives “idiots” for using taxpayer money to pay out $18 billion in bonuses, then proposed that compensation for the employees of all bailout recipients be capped at $400,000 per year, it surely seemed to many Americans like an obvious More…
Merrill Lynch — the former Wall Street titan that was recently acquired by Bank of America — like most investment banks, typically pays about 50 percent of its revenue in compensation. The chart (after the jump) depicts Merrill’s revenue and compensation data since 2000 — and it More…
Do you think Tim Geithner, President Obama’s pick for treasury secretary, is serious about reining in executive compensation under the Troubled Asset Relief Program?
Think again.
The heads of bailed-out banks could still receive nearly unlimited pay under a new Democratic proposal to rein in executive compensation for firms participating in the taxpayer-funded Wall Street bailout, according to at least one House Democrat, who hopes to add tighter restrictions this week.
Rep. Brad Sherman (D-Cal.) predicts More…
rss