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Tag finance
Jon Hodgeman on Banking Reform
0 comments By Chris Barna
Filed in Humor, Politics
Tagged with finance, jon hodgeman, reform, the daily show
October 29th, 2009 @ 11:43 pm
Wait, They’re Angry About What?
0 comments By Chris Barna
Filed in Politics
Tagged with barack obama, conservative, finance
October 23rd, 2009 @ 12:21 pm
So, the big news yesterday was that the Obama administration announced pay caps for companies that still have government money. Some conservatives immediately jumped in to say that the cuts would be an average of 90%. The news today is that executives are leaving these firms because they can’t accept the pay cut. Put in more concrete numbers:
At Bank of America, for instance, only 14 of the 25 highly paid executives remained by the time Feinberg announced his decision. Under his plan, compensation for the most highly paid employees at the bank would be a maximum of $9.9 million. The bank had sought permission to pay as much as $21 million, according to Treasury Department documents.
Yes, bankers are leaving because they are only making $10 million. From Instapundit (though his take is different).
Curbing Pay While Raking In Donations
0 comments By Chris Barna
Filed in Politics
Tagged with barack obama, democrat, finance, regulation
October 22nd, 2009 @ 11:38 pm
Waking up to an article about the Obama administration proposing limits on banker pay for companies that were bailed out and an article about how President Obama brought in millions in donations from investors in Manhattan had me a bit vexed at first. Out of one side of the administration comes a sharp regulation targeted directly at certain Wall Street firms, out of another side, the President is pushing reform as bankers open their checkbooks. What exactly is going on here? Harper’s points to the final paragraph of the Washington Post article:
Large public banks have long been loath to get involved in politics, a major Obama donor said: “The stronger base is among private equity guys, hedge funds, et cetera. People in private firms feel a little more flexible.”