Geithner Plan Fails to Calm Investors
February 11, 2009 by Joseph McCafferty
“Chilly reception”: Timothy Geithner's first sales job as Treasury secretary was greeted yesterday with skepticism from two key constituencies: Wall Street and Capitol Hill.
February 11, 2009 by Joseph McCafferty
“Chilly reception”: Timothy Geithner's first sales job as Treasury secretary was greeted yesterday with skepticism from two key constituencies: Wall Street and Capitol Hill.
TARP’s Strings Could Snag Companies
February 10, 2009 by Joseph McCafferty
Financial institutions receiving government funds face a new and considerably more restrictive set of Treasury-imposed limits on executive compensation programs, including a $500,000 cap on cash compensation, expanded clawbacks and further curbs on severance payouts.
February 10, 2009 by Joseph McCafferty
Financial institutions receiving government funds face a new and considerably more restrictive set of Treasury-imposed limits on executive compensation programs, including a $500,000 cap on cash compensation, expanded clawbacks and further curbs on severance payouts.
‘CEO Smackdown’ Expected In House Hearing
February 9, 2009 by Joseph McCafferty
Chief executives of the eight financial institutions that were first to get taxpayer-funded capital infusions under the Troubled Asset Relief Program have been asked to testify at a House Financial Services Committee hearing Wednesday. Lawmakers want to know what banks are doing with the $165 billion so far lent to them.
February 9, 2009 by Joseph McCafferty
Chief executives of the eight financial institutions that were first to get taxpayer-funded capital infusions under the Troubled Asset Relief Program have been asked to testify at a House Financial Services Committee hearing Wednesday. Lawmakers want to know what banks are doing with the $165 billion so far lent to them.
Gillan to Assume ‘Chief of Staff’ Role at SEC
February 6, 2009 by Joseph McCafferty
February 6, 2009 by Joseph McCafferty
Global Proxy Watch reports today that Securities and Exchange Commission Chairman Mary Schapiro will name Kayla Gillan, a prominent corporate governance champion, to a “top chief-of-staff-like post.”
Watchdog: Government Overpaid for Bailout
February 6, 2009 by Joseph McCafferty
The Bush administration overpaid tens of billions of dollars for stocks and other assets in its massive bailout last year of Wall Street banks and financial institutions, a new study by a government watchdog says.
February 6, 2009 by Joseph McCafferty
The Bush administration overpaid tens of billions of dollars for stocks and other assets in its massive bailout last year of Wall Street banks and financial institutions, a new study by a government watchdog says.
U.S. Explores Converting Stakes in Banks
February 6, 2009 by Joseph McCafferty
U.S. officials are examining ways to gradually convert government stakes in banks into ordinary shares as banks accumulate losses.
February 6, 2009 by Joseph McCafferty
U.S. officials are examining ways to gradually convert government stakes in banks into ordinary shares as banks accumulate losses.
Loopholes Sap Obama’s Pay Plan
February 6, 2009 by Joseph McCafferty
President Barack Obama's crackdown on Wall Street pay contains loopholes and may have limited impact in restraining compensation, according to some executive-pay consultants and management attorneys.
February 6, 2009 by Joseph McCafferty
President Barack Obama's crackdown on Wall Street pay contains loopholes and may have limited impact in restraining compensation, according to some executive-pay consultants and management attorneys.
Uncle Sam in the Boardroom
February 5, 2009 by Django Gold
While the federal government has resisted taking board seats on companies in which it now owns significant stakes of preferred shares, make no mistake: unprecedented ownership of corporate debt and equity by the U.S. government will have a profound effect on the role of the director.
February 5, 2009 by Django Gold
While the federal government has resisted taking board seats on companies in which it now owns significant stakes of preferred shares, make no mistake: unprecedented ownership of corporate debt and equity by the U.S. government will have a profound effect on the role of the director.
Survey Shows CEO Levels at Public Banks Receiving TARP Funds
February 5, 2009 by Directorship Editors
In light of today’s news on compensation limits at TARP companies, we are releasing the attached summary analysis of CEO compensation at TARP participants.
February 5, 2009 by Directorship Editors
In light of today’s news on compensation limits at TARP companies, we are releasing the attached summary analysis of CEO compensation at TARP participants.
Obama: ‘Common Sense’ on Pay
February 5, 2009 by Joseph McCafferty
In announcing executive pay limits yesterday, President Obama is trying to hold the financial industry accountable while aiming to change an entrenched corporate culture that endorses outsize bonuses and perks that often bear little relationship to corporate performance.
February 5, 2009 by Joseph McCafferty
In announcing executive pay limits yesterday, President Obama is trying to hold the financial industry accountable while aiming to change an entrenched corporate culture that endorses outsize bonuses and perks that often bear little relationship to corporate performance.
Goldman CFO: ‘Let’s Pay Back TARP Now’
February 5, 2009 by Joseph McCafferty
Goldman Sachs is eager to repay the $10 billion in Troubled Asset Relief Program funding it received from the United States Treasury last year.
February 5, 2009 by Joseph McCafferty
Goldman Sachs is eager to repay the $10 billion in Troubled Asset Relief Program funding it received from the United States Treasury last year.
Geithner: Faster is Better
February 5, 2009 by Joseph McCafferty
New Treasury secretary Tim Geithner insists that speedy rescue is vital if the United States is to emerge from its recession.
February 5, 2009 by Joseph McCafferty
New Treasury secretary Tim Geithner insists that speedy rescue is vital if the United States is to emerge from its recession.
Madoff Investigator Blames SEC
February 4, 2009 by Joseph McCafferty
Fraud investigator Harry Markopolos blamed the Securities and Exchange Commission's "financial illiteracy" for failing to heed his warnings about money manager Bernard Madoff.
February 4, 2009 by Joseph McCafferty
Fraud investigator Harry Markopolos blamed the Securities and Exchange Commission's "financial illiteracy" for failing to heed his warnings about money manager Bernard Madoff.
Frank Seeks Regulator for Financial Risk
February 4, 2009 by Joseph McCafferty
House Financial Services Committee Chairman Barney Frank said the first priority in overhauling financial regulation is to set up an entity to oversee systemic risks of the kind that walloped Wall Street last year.
February 4, 2009 by Joseph McCafferty
House Financial Services Committee Chairman Barney Frank said the first priority in overhauling financial regulation is to set up an entity to oversee systemic risks of the kind that walloped Wall Street last year.
Obama to Set Exec Pay Limits
February 4, 2009 by Joseph McCafferty
As expected, President Barack Obama and Treasury Secretary Timothy Geithner will today announce new rules limiting executive pay to $500,000 a year for companies getting taxpayer bailout funds in the future.
February 4, 2009 by Joseph McCafferty
As expected, President Barack Obama and Treasury Secretary Timothy Geithner will today announce new rules limiting executive pay to $500,000 a year for companies getting taxpayer bailout funds in the future.
The Return of the Shareholder
February 4, 2009 by Joseph McCafferty
Shareholder rights advocate Robert A.G. Monks uses the Obama inauguration as a jumping off point to revisit the role of the shareholder in corporate governance.
February 4, 2009 by Joseph McCafferty
Shareholder rights advocate Robert A.G. Monks uses the Obama inauguration as a jumping off point to revisit the role of the shareholder in corporate governance.
Bank of America to Defer Bonuses
February 2, 2009 by Joseph McCafferty
With executive compensation and annual bonuses the talk of the corporate town in recent months, Bank of America has made its own statement on the matter, with plans to defer its larger bonuses over a three-year period.
February 2, 2009 by Joseph McCafferty
With executive compensation and annual bonuses the talk of the corporate town in recent months, Bank of America has made its own statement on the matter, with plans to defer its larger bonuses over a three-year period.
Readings: Back to the Future
February 1, 2009 by Joseph McCafferty
President Obama’s job during his first 100 days has been sized up against that of Franklin Delano Roosevelt, who took the oath of office as unemployment soared, bread lines formed in America’s cities, and farmers were on the verge of revolt in the heartland.
February 1, 2009 by Joseph McCafferty
President Obama’s job during his first 100 days has been sized up against that of Franklin Delano Roosevelt, who took the oath of office as unemployment soared, bread lines formed in America’s cities, and farmers were on the verge of revolt in the heartland.
Clawback? Not Without a Restatement
February 1, 2009 by Kimberly Cunningham
Clawbacks, those sharp instruments for pay restitution, just got a little bit duller.
February 1, 2009 by Kimberly Cunningham
Clawbacks, those sharp instruments for pay restitution, just got a little bit duller.
Rethinking the Regulatory Framework
February 1, 2009
More than a year into the financial crisis that has hurt legions of employees, executives, and shareholders, Harvey Pitt is raising a cautionary flag that we most likely have not reached the bottom.
February 1, 2009
More than a year into the financial crisis that has hurt legions of employees, executives, and shareholders, Harvey Pitt is raising a cautionary flag that we most likely have not reached the bottom.