Word: crisises
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In the past few months, a number of financial firms have instituted or beefed up rules that would allow them to force employees to return year-end bonuses. So-called clawbacks would be triggered by subsequently discovered misconduct and some firms say they may even apply in cases where employees...
On Jan. 22, Wall Street pay was again in the spotlight in Washington. The House Committee on Financial Services held a hearing on executive compensation. Harvard professor Lucian Bebchuk, who recently consulted pay czar Kenneth Feinberg in setting compensation limits at bailed-out firms, said Congress should regulate and "place...
Fearing regulation, financial firms are eager to prove they can police their own pay policies. At a recent Washington hearing into the causes of the financial crisis, executives from four top banks all cited recently instituted clawback provisions as evidence the firms had reformed the pay practices that many believe...
The AIG bailout has become one of the most enduring controversies from the financial crisis. On Wednesday, a congressional hearing again probed the moves and possible mistakes the government made when it rescued the insurer. At the center of the hearing, which was held by the House Committee on Oversight...
But unless Bernanke is an unusually good liar, he is a moderate Republican at heart, a market-based Keynesian who has a lot in common with Obama economists such as Larry Summers or Christina Romer, a pragmatist whose defining political experience before the past couple of years was getting screamed...