All Posts Tagged With: "Regulators"

The Chief Financial Officer (CFO) for Citigroup (NYSE:C), John Gerspach, stated unequivocally at a conference on Thursday that employees of the bank were paid competitively in 2009 and could expect to see similar pay in 2010.  The statement came at a conference hosted by Credit Suisse, and comes at a time when the banking giant [...]

In what I have considered a waste of time from the beginning with no chance of ever becoming law, the so-called Volcker Plan appears dead after questioning Senate Banking Committee found Volcker unable to answer key questions which should have been easy to answer if the plan was as good as it was suggested it [...]

The divisive issue of bonus payments to investment bankers reared its head again as it was announced that Goldman Sachs (NYSE:GS) is being sued by two pension funds over planned bonuses paid to employees.  The plaintiffs in the lawsuit, released on Tuesday, maintain that the company shouldn’t use its normal methods for calculating bonuses in [...]

I’ve been a little surprised at the support by Congress to reinstate the Glass-Steagall Act. When US Senators John McCain and Maria Cantwell introduced the legislation, it seemed it was done more to get their names out there and to show they were attempting to do something to their constituents, rather than over concerns for [...]

Voting for bank boards should definitely be a more interesting as new rules regarding “phantom votes” by the New York Stock Exchange will give shareholders more say in who ends up seated on the board. This will of course extend to all companies listed on the exchange. Starting in 2010, votes can no longer be [...]

It was probably inevitable that the Glass-Steagall Act would be revisited in response to the banking crisis, and Senators John McCain and Maria Cantwell have now brought the proposition forward, whereby commercial banking and investment banking wouldn’t be allowed under the same financial roof, something many politicians believe will help protect a financial crisis like [...]

Democrats continue their controversial slide away from liberty and freedom, as they move toward a fascist government, which they seek to embed in the economic system of America. Fascism, as Paxton wrote, deals with a “form of political behavior marked by obsessive preoccupation with community decline, humiliation or victimhood and by compensatory cults of unity, [...]

When the Federal Reserve introduced new rules last week which would ban banks and credit unions from charging overdraft fees to consumers at ATMs or debit cards unless they’re giving option of accepting or declining the service, it seemed it was taken care of and next July 1, when the new rules will take effect. [...]

There are always unintended consequences to government interference in the marketplace, and that’s no exception with the banking industry, as recent fees were added to checking accounts at Bank of America (NYSE:BAC) and Citibank (NYSE:C) in order to make up for lost income from recent government regulation added to the industry. Unfortunately, consumers, for the [...]

Saying it would give the executive branch far too much “unprecedented power,” both Republicans and Democrats struck out at the bill introduced to battle against financial risk in the economy. Responses were it would not only institutionalize “too big to fail,” but would also offer “permanent, unlimited bailout authority,” to the executive branch. What it [...]