|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
By Mark Lilla
$17.16
By David Kipen
$10.20
$23
|
|
|
|
commons.wikimedia.org
|
The Obama administration on Wednesday enthroned Washington lawyer Kenneth Feinberg as its “compensation czar,” whose job it will be to oversee the salaries and bonuses of 175 top executives of our beloved bailed-out financial firms, including AIG, Citibank, Bank of America and GM. The White House’s initial call to cap executive pay at $500,000 is no longer on the menu.
|
hoinews.com
|
When word got out that Sen. Chris Dodd was responsible for loosening the restrictions on executive bonuses while drafting the stimulus bill, his constituents were apparently listening, as the Democrat’s approval rating in his home state of Connecticut has hit an all-time low. Now he could be in danger of losing his Senate seat in 2010.
|
AP photo / Susan Walsh
|
In testifying before Congress on Tuesday, Treasury Secretary Timothy Geithner asked for what he called “new resolution authority” to grant the federal government the ability to more successfully take on financial institutions like AIG (i.e., non-banks) in the future.
|
Flickr/dcJohn
|
Faced with the glaring problem of indulgence and intractability on the highest tiers of Wall Street’s corporate behemoths, the Obama administration is putting together a plan to make financial institutions more accountable and more transparent to the government and to the taxpayers who granted them buoyancy.
|
|
Truthdig’s Robert Scheer appeared on “Democracy Now!” on Thursday to tell host Amy Goodman who exactly sent the U.S. into financial dire straits and to recommend some changes that could put the country on a better track. Here are some hints: One culpable party rhymes with “Shmoldman Shmacks,” and another is at the top of President Obama’s economic team.
|
|
What’s to be done when companies that received major bailouts from taxpayers turn around and brazenly offer beaucoup bucks to the executives who helped put us in the hole in the first place? Here are a couple suggestions by way of an answer: Pitchforks! Angry mobs!
|
View the most popular tags overall?
|
|
A Cooler Century? Wait and See
Newsletter 
Like Us
Follow Us
Get Our Feed
