After lucrative 2009, GMAC CEO agrees to take no cash salary for 2010 in deal with pay czar The CEO of bailed-out auto finance giant GMAC Inc. will receive no cash salary for 2010 and will be compensated in restricted stock, under ...
WASHINGTON (Reuters) - The Federal Reserve expects the largest U.S. banks to make progress this year in overhauling their pay practices, while acknowledging that more dramatic changes may take longer to implement, a Fed official said on Thursday. Wall Street pay has ...
<div id="subtitle">Biographical information on federal pay czar Kenneth Feinberg</div><div><p>NAME — Kenneth R. Feinberg.</p><p>AGE — 63, born Oct. 23, 1945, in Brockton, Mass.</p><p>EXPERIENCE — Obama administration "pay czar" for financial bailout program, June 2009 to present ...
<div><p>The Obama administration has opted to slash executive salaries at firms rescued by taxpayer bailouts, cutting cash payments by 90 percent amid a public backlash at bloated Wall Street bonuses.</p><p>In a dramatic government swipe at big business as unemployment nears 10 percent ...
<div><p>WASHINGTON (Reuters) - The Obama administration plans to unveil on Monday a new plan for dealing with troubled financial giants, said a senior U.S. lawmaker, who also mentioned potentially big changes for the insurance industry.</p><p>Barney Frank, chairman of the House Financial Services ...
<div><p>WASHINGTON (Reuters) - Pay czar Kenneth Feinberg emphasized on Friday his ability to claw back pay at any company receiving a taxpayer bailout, but said such an extreme action "will be rare and far between."</p><p>Feinberg said he has not really explored how ...
<div><p>NEW YORK (Reuters) - AIG <AIG.N>, the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the green light.</p><p>In ...
<div id="subtitle">Fed's plan to police bank pay, on its own, unlikely to curb excessive risk, analysts say</div><div><p>It's the boldest idea yet to rein in Wall Street recklessness: Put the Federal Reserve in charge of policing not just the nation's banks, but also ...
<div><p>CHICAGO (Reuters) - A top U.S. bank regulator said on Monday that there is "very real concern" that some large financial firms that have received massive taxpayer bailouts could be harmed by the rulings of the Obama administration's pay czar.</p><p>Comptroller of the ...
<div id="subtitle">JPMorgan CEO says he won't go after top performers at Citigroup, Bank of America</div><div><p>JPMorgan CEO Jamie Dimon said Tuesday his bank won't try to hire top performers at Citigroup and Bank of America, days after the government's "pay czar" slashed pay ...
