CEO Pay Climbs in 2011

By: Monday June 18, 2012 6:19 am

All the talk of tax reform, to get a more progressive tax code, obscures the fact that income distribution on a pre-tax basis is already so unequal that no amount of taxation could possibly bring that into line. It’s true that the near-flat tax structure invites such pre-tax distribution, but we do very little in [...]

Shareholders Reject Citi CEO Vikram Pandit’s $15 Million Compensation Package in Non-Binding Vote

By: Tuesday April 17, 2012 12:56 pm

I have mentioned that we will see a wave of shareholder activism this spring, with direct action challenges to the biggest corporations in America. This outcome at the Citigroup meeting in Dallas is one of the first fruits of that plan. Citigroup‘s shareholders rejected the bank’s plan to award its chief executive, Vikram S. Pandit, [...]

Dodd To Release Financial Reform Bill Today

By: Monday March 15, 2010 7:17 am

Amidst this make-or-break week on health care reform, Chris Dodd is prepared to release his financial reform bill, without Republicans on board but reflecting the work performed with Republicans over the last couple months. With 59 votes in the Senate, Democrats need support from across the aisle to overcome an expected filibuster, but that lone [...]

Developed World Mimicks Britain’s Bank Bonus Tax, US Does Not

By: Friday December 11, 2009 8:45 am

France and Germany have signed on to a controversial one-time 50% tax on all banking industry bonuses. The momentum building up in Europe behind the clampdown on bonuses followed conversations between Treasury officials and those in G7 countries on Wednesday after the pre-budget report outlined the 50% tax on bankers’ bonuses of more than £25,000. [...]

Wall Street’s Got Talent

By: Friday October 23, 2009 3:04 pm

A familiar theme in the aftermath of the White House slashing executive pay packages at bailed-out firms concerned “talent” – the idea that these companies would not be able to attract or keep top executives if constrained on compensation. The Washington Post said executives were already fleeing rather than have to live on a paltry [...]

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