iOS app Android app

Bonus Outrage

Wall Street Says It Expects Bonuses To Be Just As Big This Year

The Huffington Post | Jillian Berman | Posted 12.10.2011 | Business

While most Americans aren’t expecting their incomes to rise with the cost of living in the near future, more than 60 percent of Wall Street professi...

Saleem Khatri, British Banker, Angry With $230,000 Bonus Is Awarded $2.14 MILLION By Courts

Telegraph | Posted 05.25.2011 | Home

A city trader who was disgruntled at only receiving an annual bonus of £150,000 won a High Court appeal demanding that his employers award him �1.4...

AIG Bonuses: Geithner Says Bank Fee Could Recover 'Outrageous' Payments

Posted 05.25.2011 | Business

After AIG announced its plans to pay $100 million in expedited bonuses this year, Treasury Secretary Tim Geithner criticized the payouts as "outrageo...

Lloyd Blankfein Of Goldman Sachs 'Expecting $100 Million Bonus'

Times Online | Helen Power in Davos | Posted 05.25.2011 | Business

Goldman Sachs, the world's richest investment bank, could be about to pay its chief executive a bumper bonus of up to $100 million in defiance of move...

A Personal Story About an Impersonal Bank

B. Jeffrey Madoff | Posted 05.25.2011 | Business
B. Jeffrey Madoff

"I've been with the bank for over twelve years," I said. "I wrote a check on my own account. I don't understand what the problem is." Again, the manager replied, "We have policies sir."

Martin Wolf: Windfall Tax For Wall Street Bonuses

Martin Wolf | Posted 05.25.2011 | Business

Windfall taxes are a ghastly idea. They are a sop to prejudice, a burden on risk-taking and a form of arbitrary confiscation. No sensible person shoul...

2010: Is It Too Soon to Feel Betrayed?

Stephen Herrington | Posted 05.25.2011 | Politics
Stephen Herrington

In the ongoing blizzard of economic insanity and political corruption, where is the force that can forge the solutions that we so desperately need?

My City Is Being Invaded by Banksters

Matthew Filipowicz | Posted 05.25.2011 | Business
Matthew Filipowicz

In mere days, my city, Chicago will be overrun by the worst of the worst. The lowest of the low. Criminals who have affected more lives than any mug...

Jamie Dimon Reportedly Entreated British Politician To Reconsider U.K. Bonus Tax | Elizabeth Hester | Posted 05.25.2011 | Business

Dec. 28 (Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon told U.K. Chancellor of the Exchequer Alistair Darling that his 50 per...

How Did Europe Respond to the Lehman Collapse?

Georges Ugeux | Posted 05.25.2011 | Home
Georges Ugeux

In a strange way, the U.S. was better prepared to manage the collapse of Lehman Brothers than Europe, namely because it was happening within a single country.

What's Wrong With Bonuses?

Adam Taylor | Posted 05.25.2011 | Business
Adam Taylor

The bonus arms race began in the 80s, and has shown little sign of abating. In practice this has meant that bonuses have ceased to be performance related at all; instead, just a guaranteed sum.

Happy Days are Here Again! (Here = Wall Street)

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

What did Goldman Sachs actually do that was useful for society, after having helped to drive our economy off a cliff? And why aren't our elected leaders doing something about it?

What Is So Outrageous About Paying Our Bills?

Larry Gellman | Posted 05.25.2011 | Politics
Larry Gellman

I always thought that taxes were the way we paid our bills. In a democracy we have elected representatives who spend money on our behalf on things like defense, security, wars, bridges, and health care benefits.-

Chrysler Refused Loan Over Limits on Executive Pay | David Cho and Peter Whoriskey | Posted 05.25.2011 | Business

Top officials at Chrysler Financial turned away a $750 million government loan because executives didn't want to abide by new federal limits on pay, s...

More CEO Pay Hikes Than Cuts In '08

Yahoo! Finance | Kim Dixon | Posted 05.25.2011 | Business

WASHINGTON (Reuters) - More U.S. chief executives got pay raises than had their pay cut in 2008, a year when billions in taxpayer dollars went to prop...

Melissa Bean Helps Banks Gut Bill to Limit TARP Bonuses

Jane Hamsher | Posted 05.25.2011 | Politics
Jane Hamsher

The New Democrats and the Blue Dogs made good on their threats to join with Republicans to block legislation that would limit the payment of TARP bonuses. Score one for the banks.

Dodd's AIG Ties, Cash Shortage Threaten Senate Re-Election Bid

Bloomberg | Posted 05.25.2011 | Politics

Senate Banking Committee Chairman Christopher Dodd finds himself in an unlikely spot after three decades representing Connecticut: short on cash and b...

House Backs New Pay Curbs At Bailed-Out Banks

Reuters | Posted 05.25.2011 | Home

WASHINGTON (Reuters) - The U.S. House of Representatives on Wednesday approved legislation to curb "excessive" employee pay at financial firms that re...

Merrill Lynch Bonuses 22 Times The Size Of AIG

The Huffington Post | Megan Slack | Posted 05.25.2011 | Politics

Dennis Kucinich sent out a round of letters to top Treasury officials Monday morning, questioning how much they knew about bonuses paid to Merrill Lyn...

Obama Seeking JPMorgan, Goldman, Citigroup Support For Bank Plan | Posted 05.25.2011 | Business

President Barack Obama will seek support today from executives of the nation's largest banks for his plan to stabilize the financial system and try to...

Cuomo: AIG Credit Default Swaps To Be Investigated | Karen Freifeld | Posted 05.25.2011 | Business

March 27 (Bloomberg) -- New York Attorney General Andrew Cuomo, building on his investigation of American International Group Inc.'s bonuses, subpoena...

Arthur Delaney

Bonus Ban Passes House Committee | Arthur Delaney | Posted 05.25.2011 | Politics

The House Financial Services Committee approved legislation Thursday that would ban bonuses for employees at any financial firm that has benefited fro...

AIG Resignation Letter In NY Times By Jake DeSantis

NY Times | Posted 05.25.2011 | Business

The following is a letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group's financial products unit,...

Sam Stein

Dodd Hits Back As Wife's Ties To AIG Are Scrutinized | Sam Stein | Posted 05.25.2011 | Politics

Connecticut Sen. Chris Dodd is batting back claims from a conservative-leaning publication that his wife -- like he -- has questionable financial ties...

Fox Anchor Likens AIG Bonus Tax To Sexual Abuse

Think Progress | Posted 05.25.2011 | Politics

Today, Fox Business Network anchor Dagen McDowell appeared on Fox News to make the case against the tax on AIG bonuses by comparing it to sexual abuse...