Big corporations have been portrayed as the villains in the story of this year’s explosion in campaign spending, unloading vast sums of money to elect candidates who will then go to Washington to better their bottom line. Turns out a lot of businesses, however, feel like they’re the ones More…
The top eight spenders in the financial industry alone spent nearly $30 million to lobby Capitol Hill last year, according to Nathaniel Popper of the Los Angeles Times — a 13 percent overall increase from 2008. That overall increase was fueled by a 12 percent increase — to More…
Yesterday, everyone got worked up over President Obama’s comments to Business Week that he didn’t begrudge Chase CEO Jamie Dimon or Goldman Sach CEO Lloyd Blankfein their bonuses — despite the many reasons those bonuses aren’t as out-of-line as the headlines would have Americans believe. But are they More…
President Obama’s attempts to shame top bankers on Monday did little to make anyone think lending will suddenly flow freely and financial institutions will quit lobbying to undermine regulatory reform. And the fact that three of the nation’s top bankers literally phoned it in from New York because of early More…
I know it’s not helpful to have knee-jerk reactions to Wall Street pay, given that compensation is often more complicated than portrayed, but there’s no subtlety here: Bailed-out financial firms are on track to pay their employees as much, or more, than they were rewarded with during the pre-crisis days, More…
More news on the business ethics front: Some Wall Street firms receiving billions of dollars in taxpayer bailout funds are finding creative ways to get around executive compensation limits imposed by the government, The Wall Street Journal reports.
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