nytimes.com - 10/22/2009
—
In the whirl of the financial crisis, Bank of America and Citigroup stood out for being among the most troubled banks in the industry. Now, they will stand apart. The Obama administration’s plans to slash pay at heavily bailed-out firms force them to operate under different rules from the rest ...
powerlineblog.com - 10/18/2009
—
powerlineblog.com —
Today the Obama administration's "pay czar" demanded that
Ken Lewis , Chairman of the Board of Bank...
of America, work for free. The "czar," Kenneth Feinberg, pressured Lewis not only to forgo all remaining compensation for 2009, but to repay the $1 ...
(more)
"Pay Czar?!"
huffingtonpost.com - 10/16/2009
—
huffingtonpost.com —
The U.S. Treasury Department's pay czar pushed outgoing
Bank of America Corp. chief executive Kenneth Lewis into...
giving back $1 million he received so far this year and forgoing the rest of his $1.5 million salary for 2009, say people familiar with ...
(more)
Czar Blocks Bank Of America Chief's Pay
Comments
Blog Reactions
The $200,000 Insult: Come to Chicago
TPMCafe —
... Whatever happens to the pay of this small group of executives the real problem goes much deeper. The Wall Street folks view the wreckage from last year as a minor distraction and are eager to get back to business as usual. This attitude was best expressed by "a person close to A.I.G.'s board," who said of plans to restrict pay at the AIG division that wrecked the company to $200,000: "that's insulting ... why wouldn't anybody quit." ...
Wall Street Adds Insult to Injury
Commondreams.org Views —
... and put their employer in bankruptcy would be absolutely delighted to find themselves still earning $200,000 a year. That's not the way it works on Wall Street. When Kenneth Feinberg , Barack Obama's compensation tsar for bailed out companies, issued his edicts last week on executive compensation, it prompted howls of outrage in the financial industry. The New York Times quoted one person who it identified as being "close to the board" at AIG as saying that the pay caps that Feinberg imposed were "insulting" . The specific pay cap in question ...
Related Content
Bank of America in hot water over SC flag flap
palmettoscoop.com 9/23/2009 —
BRANCH MANAGER REPORTEDLY ORDERS REMOVAL OF FLAGS PLACED TO HONOR FALLEN MARINE
A South Carolina Bank of America branch is drawing criticism Thursday after an employee reportedly ordered the removal of American flags placed to honor a fallen ...
Bank of America, 3 Other Banks’ FDIC Fees May Top $10 Billion
bloomberg.com 9/29/2009 — Sept. 29 (Bloomberg) -- The Federal Deposit Insurance Corp.’s plan to bolster its reserves may cost Bank of America Corp. and three of the largest U.S. banks more than $10 billion. Bank of America , the biggest U.S. lender by deposits, may owe $3.5 ...
Bank Of America Backpedals On Overdraft Fees
huffingtonpost.com 9/23/2009 — NEW YORK — Bank of America Corp. said Tuesday it's capping the fees it charges customers for overdrawing their accounts, backpedaling on the hikes the company imposed just this year.
Starting Oct. 19, Bank of America said it will no longer charge overdraft fees when a customer's ...
Bank of America to Reveal Legal Advice on Merrill Deal
nytimes.com 10/13/2009 — Facing mounting pressure from multiple investigations, Bank of America ’s board has voted to reveal the legal advice that the bank received late last year in its merger with Merrill Lynch . The stunning reversal, approved by the board Friday, removes ...
Oh no! My Bank of America account has been suspended!
directorblue.blogspot.com 10/3/2009 — Even though this is one of the lamest phishing attempts of all time, this missive made it through Google's sophisticated spam filters intact:Oh, gee -- Bank of America is using an IP address and not a domain name. And they're using clear-text and not SSL (HTTPS).It's a pity I don't have a BofA ...
Wall Street fat cats fear the pay czar —
CNN Political Ticker 10/20/2009
NEW YORK (CNNMoney.com) - President Obama's "pay czar" will soon decide whether top executives at firms that received the most assistance from the government during last year's financial crisis are making too much money.
By month's end, Kenneth ...
Follow BeltwayBlips on Twitter
Reactions
