Page 52 - Executive Pay News Today

Unveiled his financial overhaul legislation, aiming to crack down on big banks and predatory lenders. dodd is proposing a consumer office of the federal reserve that would write and enforce rules on banks and nonbanks with assets over $10 billion. the plan also establishes the financial stability oversight council, a liquidation process for large failing firms and gives the fed oversight over the largest financial institutions. the bill also establishes a new consumer protection agency, regulate...

Nations financial regulatory system. that is seen as a critical test of whether washington can pass reform. the bill incorporates ideas from democrats and republicans but its unclear if it can overcome partisan division. according to people briefed on the draft, the legislation would empower shareholders of public companies to vote on executive pay and nominating directors. it would also create a consumer protection agency within the federal reserve to write rules governing mortgages, credit car...

Companies are making some significant money and the execs are living large. so what say you? >> i dont believe that health care inflation, the rising cost of health care in this country is the result of executive pay, perks, or profits. if you add up all of the profits made by the five biggest insurers last year, it comes to $13 billion. take it off them. confiscate it take away those executive perks and all that pay to those executives. take it all away, what have you done? you have maybe got $...

But the health insurance companies are making some significant money and the execs are living large. so what say you? >> i dont believe that health care inflation, the rising cost of health care in this country is the result of executive pay, perks, or profits. if you add up all of the profits made by the five biggest insurers last year, it comes to $13 billion. take it off them. confiscate it take away those executive perks and all that pay to those executives. take it all away, what have you d...

Companies are making some significant money and the execs are living large. so what say you? >> i dont believe that health care inflation, the rising cost of health care in this country is the result of executive pay, perks, or profits. if you add up all of the profits made by the five biggest insurers last year, it comes to $13 billion. take it off them. confiscate it take away those executive perks and all that pay to those executives. take it all away, what have you done? you have maybe got $...

And this has been an ongoing fight between the obama administration and pay czar kenneth feinberg and the companys newly appointed ceo. he almost quit over the whole fight saying how can we attract top talent if we dont have top pay. but they are, aig, coming to the forefront and saying were going to change the way that we pay our employees, fred. >> so the obama administration has talked tough on executive pay, but is the president actually changing his tune? >> reporter: its a good question. r...

>> and, shep, this new round of bonuses totaling 100 million is for just one division of the company, by the way, the one that took the risky financial bets that sank a.i.g. >> shepard: the white houses special master on executive pay says there is not much he can do about this at all. >> we will just call him the pay czar. ken feinberg says these bonuses were locked in, as you mentioned, under employment contracts written before the government took over a.i.g. in 2008, before the congress even ...

Exemption, corporate insurance, sell cheap insurance between aig and your favorite oil company. when it goes to hell they pay the bill. proposed clawbacks on executive pay in the dodd bill. outstanding was the loophole for banks to park risks offshore. the more the bank can stick the risk with somebody else and keep the money that is what they call good business, my man. meanwhile, noç clawbacks for financial ceos they paid creating the mess over the last ten years. the key plan is consumer ag...

Made that clear, the president made that clear. weve succeeded with those two banks. my secondary objective, an important one, is try and align executive compensation, so that it avoids the type of risk taking that helped bring on this financial debacle. and we are trying to influence, voluntarily, how wall street aligns its compensation so that it better reflects value rather than risk taking. >> so executive pay, in this case, being done in a sort of demonstration project, because youre not ta...

Rather limited. but look at what else is being tried. corporate governance reform. you heard congressman frank. regulatory reform. new compensation prescriptions at the federal reserve, at the s.e.c., at the fdic. and to rein in the huge excessive bonuses, you have the bank fee legislation proposed by the administration, youve got the volcker proposal in terms of breaking up powerful banking sb entities. when you look at the whole menu, not just what im doing, you see a rather concerted effort h...