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Tag Archives: bailout

Day 61: Bailout executives panic – House passes 90% tax on bonuses

Friday, March 20, 2009

As if jumping executives from the roofs of bank and wall street buildings wasn’t enough of a public sidewalk hazard, the House overwhelmingly passed a near total tax on bonuses paid to employees of AIG and other bailout biters. And to really nail the coffin – it’s retroactive.
The House vote sent some employees into a [...]

Filed in Obama updates | Also tagged bonuses, CEO pay, decisions, economy, tax | Comments (0)

Day 14: Plans to put a limit on executives’ pay and bonuses

Wednesday, February 4, 2009

The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan.
Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends.
…
“That is pretty draconian — $500,000 is not a [...]

Filed in Obama updates | Also tagged compensation, economy | Comments (0)

Day 10: Pressures Wall Street and reverses labor policies

Friday, January 30, 2009

President Obama branded Wall Street bankers “shameful” on Thursday for giving themselves nearly $20 billion in bonuses as the economy was deteriorating and the government was spending billions to bail out some of the nation’s most prominent financial institutions.
“There will be time for them to make profits, and there will be time for them to [...]

Filed in Obama updates | Also tagged economy, labor | Comments (0)

Day 7: Citibank are told to stop insane spending

Tuesday, January 27, 2009

The administration today placed a phone call to Citibank, who received $45 billion in goverment bailout, about their plans to buy a new $50 million corporate jet. They were told to “fix it”.
The New York Post’s Jennifer Keil and Chuck Bennett reported in Monday’s paper that Citigroup, which has received $45 billion in government bailout [...]

Filed in Obama updates | Also tagged economy, tax | Comments (0)