Word: bille
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...this week, Treasury Secretary Geithner and President Obama have both taken some responsibility for the fact that AIG employees got large bonuses which were, if effect, paid from government bailout money. Senator Chris Dodd, who may have had a role in allowing a loophole in a bill which let the AIG compensation slip through, refuses to be cast as the villain who let bankers make more money than they deserved. (See 25 people to blame for the financial collapse...
...reaction to the bonus issue is that Congress is in the midst of passing a bill to tax the payouts at a 90% rate, punishing people for taking money that they appeared to be entitled to and doing nothing to the management that agreed to the deals in the first place. The tax will not be the end of the blow-up. Indignation makes good theater for politicians and makes some of their more naive constituents think that their elected officials are looking after their best interests...
According to a proxy statement Citi filed with the Securities and Exchange Commission, the company finalized its bonus plan on Jan. 14. Twelve days later an amendment barring such payments was inserted by the House of Representatives into the $787 billion fiscal stimulus bill, which went into effect...
...endowment, Kevin P. Kiley ’07, a former chair of the IOP Fellows Committee, and Ashwin Kaja ’07, a former director of the IOP Skills Program, wrote in a December 2005 Crimson editorial that the endowment was nearly $100 million. IOP Director Bill P. Purcell said that he expected the endowment’s decline to match that of Harvard’s overall endowment. In December, President Drew G. Faust warned that this drop-off could reach 30 percent by the end of the fiscal year. Purcell said he was confident in the ability...
...decades, leaders from both parties have sought to promote that ethic of service: President Richard Nixon expanded opportunities for senior citizens to serve; President George H.W. Bush called for volunteers to serve as "points of light" in their communities; President Bill Clinton established the Corporation for National and Community Service. And on Sept. 11, 2008, in the midst of a spirited general-election campaign, Senator John McCain and I put aside our differences and came together in New York City to issue a joint call to public service. It was an important reminder that while our politics is often focused...