Page 50 - Executive Pay News Today

Effectively what he has discovered, and this is according to a couple of sensors who are anonymous in the new york sometimes today, kent feinberg is going to say about 80% of the executive pay unmerited. 17 financial companies had questionable payouts to various executives in the forms of bonuses and whatnot. >> big, big, big bonuses. >> to the tune of $2 billion. and the worst offender, city group. and there was a trader there who has been squeezed out by feinberg, effectively. he got $100 mill...

Well this one is sure to get you talking. some of wall streets leading banks are being chatized by the federal governments so-called pay czar for paying out millions in salaries and bonuses to its executives. this is a report to be released later this hour. feinberg found that 17 companies bailed out by taxpayer money actually paid out nearly $1.6 billion in executive compensation. those payments were made between october 2008 when the firms received the government money and before february 2009...

Now, he says. in addition to this, he is lawyer, a mediator. this is the same guy who handled the september 11th victims defense fund. also virginia tech. also regulating executive pay during the financial bailouts. good morning. back to you. >> amber, thanks so much. he seems to be the go-to guy when there is a crisis. an anonymous list circulates around utah naming names claiming more than 1,300 people are illegal immigrants. a lot of their personal information, addresses, phone numbers, eve...

Heres something that probably wont please many people. the fed will monitor executive pay to make sure there arent too many incentives for executives to say too much risk with their banks. >> sure. >> so great, some person you dont know is going to say excuse me, steve doocy, high ranking c.e.o. with the expensive suit, too much risk. i think im going to curtail your pay and your incentives. thats a little odd. >> i think its odd you think this is an expensive suit. whats interesting, though, is...

And some people were upset about the executive pay and what some of the people down on wall street were raking in. is that anywhere in this bill? >> no. its not at all. and taxes, extra taxes on the banks to "punish them for misbehavior" have been in and out of the bill. the truth is that they probably dont have the votes to pass it with the death of senator byrd so its probably a nonstarter to begin with but i think the issue is weve got to go back to this idea of do we really want government p...

Millions and citi isnt the only bank going high-tech. bank of america is developing a way to help customers to develop checks by scanning it into their mobile phones while fargo sends out electronic a.t.m. receipts. at chase, they can transfer funds via text message. >> thats so cool. tell me the tellers arent going away, right sf>> right. my grandma will be freaking out right now. theres always someone in person you can deal with. >> courtney friel live in the studio. thank you very much. speak...

About drafting a financial regulation bill. weve obviously had a lot of changes since then. but how tough is this package on the banks? >> i think they want a lot of concessions. they still are allowed to do their own trading. they dont have quite the same freedom they had before. yes, if they fail theyll be liquidated. but to be lon nehonest, if a co is too big to fail, no government is going to go in and cause that kind of carnage with jobs. the other thing thats gotten people angry is executi...

Something there, especially when you have the republicans coming out and chastising barton as well. >> absolutely. joe barton may have a point because you know, theres a real issue and were going to discuss it on the panel on fox news sunday, the question of whether or not this administration, the obama administration has gone too far in bullying board rooms, whether its bp, general motors, chrysler, the executive pay for banks that take bailouts and there are a series of cases and you might say...

Tentatively agreed to put that $20 billion in the escrow account, it says the fund will be overseen by kenneth feinberg, who of course is now currently overseeing the t.a.r.p. funds for executive pay. hes the one who looks at whether the ceos are earning too much in their big bonuses. >> that is really important. because obviously again, people have low confidence in the effectiveness of government at this point in time. so putting someone in charge of it and really showing that the money when i...

The orderly liquidation of failed firms to avoid the near catastrophic chaos caused by the lehman brothers collapse. independent directors on compensation committees to determine executive pay. more oversight of derivatives that often trade between firms but not on official exchanges. but the industry remains opposed to a plan from former federal reserve chairman paul volcker to limit the kinds of investment securities firms can make. >> biggest concerns are we dont think the volcker rule really...