Page 16 - Compensation Structure News Today

Mortgages. >> lets talk about now the impact. the residual effect on this aspect of the banking industry and the ways of wall street as a whole. >> well, you know, listen, at the end of the day arthel as you know, i have got almost two decades in the financial services industry. including 10 of them with a major wall street firm where i was a senior i have seen the toxic waste stirred up in wall street. there is two things can i tell you for certain. until a ceo or a president of the board of di...

Been enough punishment until youre sure the crimes have been committed and many times the reason both sides settle, the government and the regulated entity is because neither one actually wants to push it. the government might lose the lawsuit or the entity might be taken down in a serious way. thats why they settled. we dont know in a lot of these cases. we cant tell from the fact that a bank failed that someone needs to be punished. >> just to ground it here. in the case of wells fargo, okay, ...

Help people and the knowledge of wrongdoing in the workplace. 30% said their compensation structure created standards to violate the law or commit insider trading if they believed they could get away with t its hard to develop a system without monetary rewards for cheating. speaking of ethical breaches, a separate study shows the united states has slipped in the ranking of least corrupt countries from 16th place in 2001 to 24th place in 2011. the u.s. is falling behind most other developed natio...

Created and the negotiation for him is going to create the bu h benchmark for the compensation structure. lets talk more about this and also whats at issue here. you have some words in your book right after we take this break. ♪

>> greta: have you stopped the actual payment? >> there is undispersed bonuses. were trying to prevent the awarding of that in the future and bring the entire compensation structure of fannie and freddie back in line with other financial rules. >> greta: but could someone run out the clock? >> i think they could run out clock if we dont get action on the bill. i think the american people deserve an answer on this. members of the congress should be on the record. we need a vote. >> greta: thank y...

Opposed to this. >> greta: have you stopped the actual payment? >> there is undispersed bonuses. were trying to prevent the awarding of that in the future and bring the entire compensation structure of fannie and freddie back in line with other financial rules. >> greta: but could someone run out the clock? >> i think they could run out clock if we dont get action on the bill. i think the american people deserve an answer on this. members of the congress should be on the record. we need a vote. ...

60 people will sign, i would have written it a little harsher myself. they called it wildly imprudent. we talked about coming back and creating a compensation structure that is really more consistent with the public mission. freddie mac and fannie mae, although theyre not officially debt of the federal government, theyre off balance sheet debt, and of course, weve seen the taxpayers have had to pail them out to the tune of over $140 billion so far. this is to me, it is i think most people would ...

Get the cash running through again, award themselves with these bonuses while americans are suffering. that sticks in my gullet. >> the head of cash compensation, theres no clawback. if its $140 million or whatever it was, they were fake profits. they were built on air. they werent real. so theres an argument to be made to make sure that the compensation structure is long-term and is correlated with performance. long-term performance. >> you talk about your abhorrence of regulation. i would say ...

Again, award themselves with these bonuses while americans are suffering. that sticks in my gullet. >> the head of cash compensation, theres no clawback. if its $140 million or whatever it was, they were fake profits. they were built on air. they werent real. so theres an argument to be made to make sure that the compensation structure is long-term and is correlated with performance. long-term performance. >> you talk about your abhorrence of regulation. i would say i would love to have seen hap...

Again, award themselves with these bonuses while americans are suffering. that sticks in my gullet. >> the head of cash compensation, theres no clawback. if its $140 million or whatever it was, they were fake profits. they were built on air. they werent real. so theres an argument to be made to make sure that the compensation structure is long-term and is correlated with performance. long-term performance. >> you talk about your abhorrence of regulation. i would say i would love to have seen hap...