‘Compensation Czar’ to Oversee Exec Pay

Staff / Truthdig Jun 11, 2009 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. Dig deeper ( 1 Min. Read )

Dodd Takes a Hit for AIG Bonus Blunder

Staff / Truthdig Apr 3, 2009 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. Dig deeper ( 1 Min. Read )

Geithner Calls for More Authority After AIG Mess

Staff / Truthdig Mar 24, 2009 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 (ie, non-banks) in the future. Dig deeper ( 2 Min. Read )

White House Looking to Curb Wall Street’s Excesses

Staff / Truthdig Mar 22, 2009 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. Dig deeper ( 1 Min. Read )

Amy Goodman and Robert Scheer: Should Geithner Step Down?

BLANK Mar 20, 2009 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. Dig deeper ( 1 Min. Read )

‘Colbert Report’: Take Out Your Pitchforks

Staff / Truthdig Mar 18, 2009 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! Dig deeper ( 1 Min. Read )