Word: provisionally
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Dates: during 2000-2009
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Jeffrey A. Frankel, an economist at the Harvard Kennedy School, said he supported the bill after it was revised over the weekend, citing the importance of congressional oversight and a provision for taxpayers to recoup part of any gains made by the government through the trading of distressed assets.
Barack Obama seemed at least a little more upbeat. In a statement, he noted that all four principles he laid out last week - increased oversight, taxpayer protections, a provision limiting golden parachutes and measures to help homeowners - were included in the bill. But he added, "When taxpayers are asked to...
After their McCain-backed White House rebellion last week, House Republicans won a few concessions in the compromise: they had funding for a controversial housing program taken out and a bankruptcy provision that they argued was a giveaway to trial lawyers removed. They also got the Treasury Department to establish...
There has also been mixed success with legislating clawbacks. The Sarbanes-Oxley Act, passed in 2002 in the wake of accounting scandals at Enron and other companies, required CEOs and CFOs of companies that have to restate earnings because of financial misconduct to pay back bonuses and incentive compensation. But...
6. Will all of the federal wheeling and dealing come with transparency and oversight? Maybe. The bailout is being undertaken by the U.S. Treasury, which means it can't be hidden away or done "off the books" in an effort to minimize its apparent scope. The Treasury will consult with...