Page 51 - Executive Pay News Today

Independent compensation committees to determine executive pay, more oversight of investment contracts known as derivative that trade between firms but not on official exchanges. the industry remains opposed to a plan by paul volcker to limit the kinds of investments security firms can make. >> we dont think the volcker rule really makes any sense. >> reporter: that means the battle is not over. wall street will be lobbying intensely in the coming weeks to ensure reform is not too burdensome. fo...

Fought off efforts to impose more oversight. industry executives said self-regulation works just fine. but the financial meltdown turned wall street topsy-turvy and president obama told executives to face the new political reality. >> i want to urge you to join us. >> we know reform is coming, we would like to see it be responsible. >> reporter: the way the bills stand now, can you live with them? >> we would like to see change. were close. >> reporter: the industry supports a mechanism to ensur...

Since after the great depression, and some people think it is overdue. it is necessary. its what has to happen. and let me just give you a little bit of whats in it. the government wants to help troubled institutions fail responsibly. put another way, eliminate the "too big to fail" idea. let banks and financial institutions fail if they have to without taking the entire economy down with them. limit the types of risky investments that banks take. shed some light on derivative trades. create a c...

But stopping this, you have to stop this at its root. you have to get people designing these things not to want to do them because there is too much risk involved because they have their own net worth on line. at the moment, thats not the way it works. i think in this case goldman sachs may have outsmarted itself. i think theres going to be a lot of evidence to shows they did do the proper disclosure. . it may not matter because they are now subject to headline risk as opposed to really this nar...

Governance reform. i have a very small jurisdiction. >> when we talk about regulatory reform and that is the next big thing to occur, in the final version of the job bill and what was passed the house, how would that restrict executive pay? >> i have enough trouble dealing with the banks and calculating pay -- >> from my understanding though, shareholders can have a say, but not man dating. >> thats right. >> to get shareholders involved in anything is a very big challenge. >> thats right. it is...

Holding down executive pay, we would lose executives to foreign companies or competing companies? >> i hear that all the time, but statistics show that if you look at the individuals whose pay was set by me last year, 85% of those same individuals are still at their desks this year. i think this argument that if you dont pay us more, were going to leave, is simply false and im very dubious about it. >> false most likely because they dont have those kinds of options. this isnt that kind of econom...

Most part to pedestrians, but in the background, youll hear some clean-up going on. building inspectors have left some folks back on their property, but most are not safe. >> miguel, thanks so much for that report. were obviously following that very closely. what an -- a large 7.2 magnitude shock down there and well be following all of that. executive pay, speaking of shocks. its down 15% among top earners of the banks and firms who took the most government bailout money. that includes a 33% c...

Take a look at the markets right now, the dow jones industrial average on the plus side up 35 points on the day, continuing the gains weve seen in recent weeks. as the white house is looking to score yet another major victory in the wake of the health care overhaul taking aim squarely at the financial industry. wall street execs are crying foul, though, over proposed consumer financial protection agency as well as other new regulations while labor unions and other groups are pushing to rein in e...

Regulator thats could see what is going to happen and make changes and take steps so it wouldnt take down the whole system. shareholders would get a say on executive pay. this is would be a nonbinding vote on executive compensation. from shareholder activists have been saying we want a little more power overall. the fdic gets more power over smaller banks and the fed takes care of these very big banks. one of criticisms here having an agency in the fed, the fed already had consumer protection po...

Going to mandate -- >> thats one of the things the bill is supposed to control is how insurance companies treat the people. >> it doesnt do it. >> who buy insurance. >> this is glory days for the insurance companies. i deem we move on to chris dodd. the chairman of the senate banking committee, connecticut democrat chris dodd has unveiled his financial overhaul legislation aiming to crack down on big banks and predatory lenders. dodd is proposing a consumer office at the federal reserve that w...