Deutsche CEO Bashes Bank Bonuses
April 7, 2009 by Joseph McCafferty
The chief executive at Deutsche Bank has joined the bonus bashing party, agreeing with the public sentiment that unprofitable companies staying afloat through government support should not be paying out heavy bonuses.
April 7, 2009 by Joseph McCafferty
The chief executive at Deutsche Bank has joined the bonus bashing party, agreeing with the public sentiment that unprofitable companies staying afloat through government support should not be paying out heavy bonuses.
Geithner: ‘Whatever’s Necessary’
April 6, 2009
Timothy Geithner said that the U.S. government was prepared to make the changes of command necessary at banks that require “exceptional” financial support from the Treasury but denied a report that the Obama administration was sidestepping the executive pay issue.
April 6, 2009
Timothy Geithner said that the U.S. government was prepared to make the changes of command necessary at banks that require “exceptional” financial support from the Treasury but denied a report that the Obama administration was sidestepping the executive pay issue.
Greenberg to Defend his Tenure at AIG
April 2, 2009 by Joseph McCafferty
The man that held the reins at AIG for 38 years will speak before Congress today, and will likely defer the blame for the fallen insurance giant’s collapse.
April 2, 2009 by Joseph McCafferty
The man that held the reins at AIG for 38 years will speak before Congress today, and will likely defer the blame for the fallen insurance giant’s collapse.
Is the Entire GM Board the Next to Go?
April 1, 2009 by Joseph McCafferty
Following the forcible removal of CEO and chairman Rick Wagoner, the Obama administration is gearing up to clean house on the board level as well.
April 1, 2009 by Joseph McCafferty
Following the forcible removal of CEO and chairman Rick Wagoner, the Obama administration is gearing up to clean house on the board level as well.
Goldman Aims for Quick TARP Repayment
March 25, 2009 by Joseph McCafferty
Holding company nee investment bank Goldman Sachs is looking to repay its government debt sooner rather than later, and in doing so may push its peers to follow a similar path.
March 25, 2009 by Joseph McCafferty
Holding company nee investment bank Goldman Sachs is looking to repay its government debt sooner rather than later, and in doing so may push its peers to follow a similar path.
Chinese Bank Calls for Single Currency
March 24, 2009 by Joseph McCafferty
Growing economic superpower China flexed its muscles a bit yesterday, with a lead banking official calling for a reformation of the international financial system, including the introduction of a new global currency.
March 24, 2009 by Joseph McCafferty
Growing economic superpower China flexed its muscles a bit yesterday, with a lead banking official calling for a reformation of the international financial system, including the introduction of a new global currency.
IMF Says U.S. Recovery Plan Uncertain
March 20, 2009
Predicts global economy will decline by 1 percent.
March 20, 2009
Predicts global economy will decline by 1 percent.
Australia Tackles Executive Pay
March 19, 2009 by Joseph McCafferty
The Australian government said it plans to crack down on excessive executive-pay packages and cut down on golden handshake termination payments, prompting an angry response from business groups.
March 19, 2009 by Joseph McCafferty
The Australian government said it plans to crack down on excessive executive-pay packages and cut down on golden handshake termination payments, prompting an angry response from business groups.
AIG Is Not Alone: Other Bonuses Eyed
March 19, 2009 by Joseph McCafferty
Additional financial companies receiving government money are facing political scrutiny over bonus payments to executives.
March 19, 2009 by Joseph McCafferty
Additional financial companies receiving government money are facing political scrutiny over bonus payments to executives.
Treasury Looks to Recoup AIG Bonus Money
March 18, 2009 by Joseph McCafferty
A frustrated Timothy Geithner is looking to deny AIG $165 million worth of bonuses paid out to employees working in the company’s financial products division
March 18, 2009 by Joseph McCafferty
A frustrated Timothy Geithner is looking to deny AIG $165 million worth of bonuses paid out to employees working in the company’s financial products division
Senator: No Morgan Stanley Bonuses
March 18, 2009 by Joseph McCafferty
New Jersey Democratic Senator Robert Menendez says Morgan Stanley should be denied the right to pay out as much as $3 billion in bonuses designed to retain employees at risk of being “poached” by competitors.
March 18, 2009 by Joseph McCafferty
New Jersey Democratic Senator Robert Menendez says Morgan Stanley should be denied the right to pay out as much as $3 billion in bonuses designed to retain employees at risk of being “poached” by competitors.
Citigroup Board Nominates Four Indies
March 17, 2009
Beleaguered-but-battling Citigroup announced the nomination of four new independent directors for its board yesterday.
March 17, 2009
Beleaguered-but-battling Citigroup announced the nomination of four new independent directors for its board yesterday.
Were Merrill Bonuses Linked to Markdowns?
March 11, 2009 by Joseph McCafferty
New York prosecutors are questioning whether the early payment of bonuses at Merrill Lynch last year gave the bank’s traders an incentive to mark downt he value of their trading positions at the end of December.
March 11, 2009 by Joseph McCafferty
New York prosecutors are questioning whether the early payment of bonuses at Merrill Lynch last year gave the bank’s traders an incentive to mark downt he value of their trading positions at the end of December.
GM Teetering on Bankruptcy’s Edge
March 5, 2009 by Joseph McCafferty
The country’s largest automaker may soon be one of its largest bankruptcies without a substantial federal capital infusion, according to GM’s auditors.
March 5, 2009 by Joseph McCafferty
The country’s largest automaker may soon be one of its largest bankruptcies without a substantial federal capital infusion, according to GM’s auditors.
Citigroup to Ease Up on Mortgage Payments
March 3, 2009 by Joseph McCafferty
Citigroup said today that it will allow recently unemployed homeowners a temporary break on their mortgage payments in an effort to alleviate foreclosures.
March 3, 2009 by Joseph McCafferty
Citigroup said today that it will allow recently unemployed homeowners a temporary break on their mortgage payments in an effort to alleviate foreclosures.
US Extends AIG Bailout by Up to $30M
March 2, 2009 by Joseph McCafferty
The federal government is boosting its investment in embattled insurer American International Group, providing the company with an additional $30 billion in capital on an as needed basis, but also exposing U.S. taxpayers to additional risk.
March 2, 2009 by Joseph McCafferty
The federal government is boosting its investment in embattled insurer American International Group, providing the company with an additional $30 billion in capital on an as needed basis, but also exposing U.S. taxpayers to additional risk.
Uncle Sam to Take Big Stake in Citi
February 27, 2009 by Joseph McCafferty
Struggling banking giant Citigroup, moving aggressively to shore up its equity base, announced a stock swap today that if successful will leave the government owning more than a third of the company and wipe out nearly three-quarters of existing shareholders' stake.
February 27, 2009 by Joseph McCafferty
Struggling banking giant Citigroup, moving aggressively to shore up its equity base, announced a stock swap today that if successful will leave the government owning more than a third of the company and wipe out nearly three-quarters of existing shareholders' stake.
Waxman Proposes to Clawback Exec Pay
February 23, 2009 by Joseph McCafferty
A looming question is whether bank executives should give back salary and bonuses earned before their companies were bought in distress sales or being bailed out with loans from the federal loans.
February 23, 2009 by Joseph McCafferty
A looming question is whether bank executives should give back salary and bonuses earned before their companies were bought in distress sales or being bailed out with loans from the federal loans.
Bank Stress Test May Expand Regulator’s Role
February 13, 2009 by Joseph McCafferty
Nearly 100 federal banking regulators descended on Citigroup in New York on Wednesday morning.
February 13, 2009 by Joseph McCafferty
Nearly 100 federal banking regulators descended on Citigroup in New York on Wednesday morning.
Treasury’s New Executive Pay Restrictions
February 11, 2009 by Directorship Editors
Outrage over Wall Street bonuses has prompted the Treasury Department to impose a new round of limitations on executive compensation programs at financial institutions taking government funds.
February 11, 2009 by Directorship Editors
Outrage over Wall Street bonuses has prompted the Treasury Department to impose a new round of limitations on executive compensation programs at financial institutions taking government funds.