In the midst of a heated Democratic Senate primary battle between appointed Sen. Michael Bennet and former Colorado House Speaker Andrew Romanoff, the New York Times drops a potential land mine today.
This morning, Treasury Secretary Timothy Geithner published an opinion piece in The Washington Post. In it, he argues:
Ending “too big to fail” also requires building stronger shock absorbers throughout the system so it can better withstand the next financial storm. To do that, the Senate bill closes loopholes
About as shocking as last night’s sunset, Senate leaders yesterday balked at the idea of taxing bonuses for the Wall Street firms largely responsible for wrecking the global economy. The fear, voiced also by Treasury officials, seems to be that limiting executive pay for executives of the bailed out More…
From a statement just released by Senate Majority Leader Harry Reid (D-Nev.):
First, we are sending AIG a letter asking them to renegotiate the contracts that include these appalling bonuses. Second, if they don’t, Chairman [Max] Baucus [D-Mont.] will propose legislation to give this money back to the taxpayers by
House Financial Services Committee Chairman Barney Frank (D-Mass.) is the latest lawmaker to weigh in on the astounding news that AIG — which remains alive only because of $170 billion in taxpayer help — has plans to pay $450 million in executive bonuses.
Interviewed on NBC’s “Today” show this More…
Related to our story yesterday about Wall Street firms acting only in the interests of shareholders, Rep. Barney Frank (D-Mass.) last week asked eight bank executives appearing before his House Financial Services Committee why corporate CEOs require enormous bonuses to do their jobs well.
If, in good times, you
After a day of haggling, a provision to limit bonuses to top executives of bailed-out banks was tucked into the stimulus last night. But for bankers who might be sweating this morning, don’t fret — there are plenty of loopholes. The yacht is safe.
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