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The Oakland Press
Government sticking nose where it doesn't belong
Members of AIG’s financial-products unit should take heart. Yes, Obama administration pay czar Kenneth Feinberg is coming down on them with the awesome power of his czardom, dictating that their pay not exceed $200,000 a year. Full Article at The Oakland Press
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Happy paydays are here again. On Wall Street, at least. Compensation consultancy Johnson Associates last week forecast that Wall Street bonuses would rise 40% this year. Full Article at Crain's New York
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Happy paydays are here again. On Wall Street, at least. Compensation consultancy Johnson Associates last week forecast that Wall Street bonuses would rise 40% this year. Full Article at Crain's New York
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NEW YORK--The U.S. official who slashed pay for 25 top financial executives on Thursday said regulatory proposals to rein in excessive compensation are like plain "vanilla prescriptions" that might work or might not. Full Article at FOX Business
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My new column for National Journal agrees with the Fed that bankers' pay needs to be supervised, but warns that by itself this will do little to improve financial safety. Full Article at The Atlantic
Related Quotes
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Today I am exercising my executive authority to avoid a full-blown crisis and keep our state moving forward ... This is not an action I take lightly, but we do not have a budget, and as Governor, I have a responsibility to make sure our state has enough money to pay its bills.
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The firms have been able to do what we all thought six or nine months ago was impossible - report respectable earnings, pay their people well, build up their capital base, and take write-offs, all at the same time
