Published in Bloomberg October 6,2009 by Josh Fineman
More than a third of Wall Street finance professionals surveyed expect their bonuses to increase for 2009, a year after the credit-market collapse that some regulators say was fueled by out-sized pay packages, eFinancialCareers.com found.
Posts Tagged ‘bonuses’
Newsfeeds
One Third of Wall Street Expects Bigger Bonus in ‘09
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Rejection of bonus pay accord raises worries: Bank of America ruling could spark a wave of D&O suits
Published in Business Insurance September 20, 2009 by Zack Phillips
A judge’s rejection of a settlement between federal regulators and Bank of America Corp. over controversial bonus pay highlights concern among insurers and policyholders that lavish executive compensation could fuel substantial claims against corporate directors and officers, observers say.
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Blackstone Co-Founder Criticizes Bonus System
Published in NYT’s Deal Book September 17, 2009, by Andrew Ross Sorkin
The economy may be stabilizing and stocks may be rising, but Peter G. Peterson, the billionaire co-founder of the private equity giant Blackstone Group, isn’t sounding so upbeat.
Newsfeeds
The Looming Compensation Crisis
Published in Portfolio.com September 15, 2009 by Gary Burnison
What’s needed now is not to end the bonus system, but to reconnect it to reality. Otherwise, American financial firms can expect to see their prized talent go elsewhere.
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Obama mum on Wall Street bonuses as debate rages
Published in Reuters September 8, 2009 by Steve Eder
Early in his presidency, Barack Obama called big bonuses paid to bankers at the height of the financial crisis “shameful” and “outrageous.”
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Wall St Bonuses Spark Outrage on Main Street USA
Published by Reuters September 8, 2009
All you have to do to feel the outrage over the continuing flow of bonuses on Wall Street is to take a walk down Main Street.
Newsfeeds
SEC Warns Brokerage CEOs on Pay
Published in The Wall Street Journal August 31, 2009 by Sarah Lynch
The head of the Securities and Exchange Commission on Monday sent a letter to chief executives at brokerage firms warning them against offering certain compensation arrangements that may leave customers at risk.
Newsfeeds
Bank Bonus Tab: $33 Billion
Published in The Wall Street Journal July 31, 2009 by Susanne Craig and Deborah Solomon
Nine banks that received government aid money paid out bonuses of nearly $33 billion last year — including more than $1 million apiece to nearly 5,000 employees — despite huge losses that plunged the U.S. into economic turmoil.
Newsfeeds
Big Banks Paid Billions in Bonuses Amid Wall St. Crisis
Published in The New York Times July 31, 2009 by Louise Story and Eric Dash
Thousands of top traders and bankers on Wall Street were awarded huge bonuses and pay packages last year, even as their employers were battered by the financial crisis.
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Tarp banks award billions in bonuses
Published in FT.com July 30, 2009 by Greg Farrell
Citigroup and Merrill Lynch, which lost $55bn in 2008, between them paid 1,400 employees bonuses of $1m or more each, according to a New York state report, released on Thursday, on banks propped up with taxpayer funds.