Word: washingtonization
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...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 limits" on Wall Street pay. Nobel Prize-winning economist Joseph Stiglitz told the panel that bank pay incentivized traders and other employees to take the excessive risks that contributed to the financial crisis. And corporate-governance expert Nell Minow asserted that Wall Street firms had done little to change the pay practices that...
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 were at the root of the financial crisis. Clawback provisions are at the heart of that effort. While companies have always had the right to sue employees for ill-gotten gains, more firms are adding provisions to reclaim pay not just for illegal behavior, but poor decisions. And they...
...sometimes bloody feature about cockfighting and other bestial contests. We raised our eyebrows at this line: “[P]erhaps he could have called upon the careers of George Washington or Thomas Jefferson who once raised cocks...
...voters in Washington put themselves near the forefront of the budding medical-marijuana movement when they voted nearly 7 to 3 for doctor-prescribed dope - a greater majority than those in any of the other eight statewide ballot initiatives that have passed around the country. (Watch a video about medical-marijuana home delivery...
...with them on key issues such as national security and lower taxes while still keeping his political base solidly on board. Education, spending cuts and maybe even health care are all ripe areas where Obama can make another effort to reach out to voters, if not intransigent Republicans in Washington...