User: newstrust Topic: Business
Category: Finance :: Compensation in Finance
Last updated: Nov 21 2018 15:58 IST RSS 2.0
 
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Deal Struck To Modify Insurance Tax 20.1.2010 Truthout - All Articles

The daily Progressive Breakfast serves up what progressive movement members need to know to start their day.

Union Leaders Back Tax Deal

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Deal Struck To Modify Insurance Tax 20.1.2010 Truthout.com

The daily Progressive Breakfast serves up what progressive movement members need to know to start their day.

Union Leaders Back Tax Deal

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Why Does Wall Street Pay Such Big Salaries? 20.1.2010 Newsweek Top Stories
Do big bankers deserve their high ...
Bankers should donate 10 percent to Haiti 19.1.2010 SFGate: Op-Ed
Bankers should donate 10 percent to Haiti
Other voices: Best response to big bank bonuses? No bailouts 19.1.2010 Twincities.com: Opinion
Wall Street executives aren't famous for their humility, but they reached a new level of tone-deaf hubris in their recovery from the collapse of 2008. A number of top banks and investment firms have racked up outsized profits in recent months, sending their bonus checks through the roof. Goldman Sachs, for example, set aside $16.7 billion for employee compensation — and that's just for the first nine months of 2009.
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Seymour Op-Ed: Taxpayers Will Pay Twice if Obama Gets His Bank Tax 18.1.2010 NewsBusters
President Obama returned to populist rhetoric Jan. 14 when he announced a $90 billion tax on roughly 50 large banks, supposedly to recoup "every single dime" of the TARP dollars used to rescue the financial sector. Nevermind that a number of those banks including Goldman Sachs, JP Morgan Chase and Morgan Stanley already repaid their TARP debts with interest and were forced to take the money in the first place. Just recently BB&T's former CEO John Allison, who "adamantly opposed" TARP, told Fox Business viewers how the government strong-armed banks like his, that didn't need loans into taking money anyway. Now Obama wants to assess billions of dollars in yearly "fees" on those firms. Talk about a raw deal. ...
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Goldman Sachs delays bonus details 18.1.2010 The Guardian -- Front Page
Delay has sparked speculation that Goldman is embarking on a full-scale revision of its bonus policy in response to Darling's supertax Goldman Sachs is to delay telling its 32,000 employees the size and structure of their bonuses - expected to average more than £380,000 each - until next week amid rumours of internal wrangling about how to tackle the chancellor's bonus tax . Staff at the highest-profile Wall Street bank had been expecting to learn details of their annual payouts by this week. But, while the bank will publish its figures on Thursday, it is understood that staff - who usually receive details of their individual payments a day or two before the formal figures - will have to wait until next week - possibly as late as 28 ...
Seymour Op-Ed: Taxpayers Will Pay Twice if Obama Gets His Bank Tax 18.1.2010 NewsBusters
President Obama returned to populist rhetoric Jan. 14 when he announced a $90 billion tax on roughly 50 large banks, supposedly to recoup "every single dime" of the TARP dollars used to rescue the financial sector. Nevermind that a number of those banks including Goldman Sachs, JP Morgan Chase and Morgan Stanley already repaid their TARP debts with interest and were forced to take the money in the first place. Just recently BB&T's former CEO John Allison, who "adamantly opposed" TARP, told Fox Business viewers how the government strong-armed banks like his, that didn't need loans into taking money anyway. Now Obama wants to assess billions of dollars in yearly "fees" on those firms. Talk about a raw deal. ...
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The week ahead at a glance 18.1.2010 LA Times: Business
The week ahead TODAY Markets closed for Martin Luther King Day.


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Obama promises battle to impose tax on major banks 17.1.2010 San Jose Mercury News: World
President links plan to get bailout funds to new regulations
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Goldman's bankers 'set for huge rise' 17.1.2010 The Guardian -- Front Page
Analysts predict big payouts despite political pressure Goldman Sachs bankers are forecast to enjoy an 81% rise in their pay and bonuses for 2009, even though the bank may be forced to respond to political pressure by reducing the amount of money it sets aside for employee payouts in the fourth quarter of the year. Goldman is braced for a furore this week when it completes the US bank reporting season on Thursday, following the row sparked by rival JP ­Morgan when it disclosed on Friday that it would be handing out $9.3bn (£5.7bn) in bonuses and salaries for 2009. By the time Goldman unveils the size of its bonus pool, Citigroup, Bank of America and Morgan Stanley will all have published their figures. They are likely to show that ...
Bankers on hot seat lay bare doomed strategies 16.1.2010 Salt Lake Tribune
The 10 members of the panel, brows furrowed and some furiously taking notes, squared off against the Wall Street chiefs in Washington last week over the billions in bonuses, and who was really to blame for bringing the financial system to its knees.
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Darling rules out levy on banks 16.1.2010 BBC: Front Page
A US-style levy on British banks part-owned by the taxpayer is ruled out by Chancellor Alastair Darling.
Wall Street Investors Lavish Scott Brown’s Campaign With Money, Get Out The Vote Operations 16.1.2010 Think Progres
ajor U.S. banks which instigated the financial crisis are set to pay out “record” bonuses and compensation — $145 billion by some estimates. State Sen. Scott Brown (R-MA), the Republican candidate running for the special U.S. Senate election next week, announced yesterday that he would oppose the recently announced financial crisis responsibility fee on large [...]
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Why Obama Must Take On Wall Street 15.1.2010 Common Dreams: Views
by Robert Reich

It has been more than a year since all hell broke loose on Wall Street and, remarkably, almost nothing has been done to prevent all hell from breaking loose again.

In fact, close your eyes and you could be back in the wilds of 2007. Bankers are still making wild bets, still devising new derivatives, still piling on debt. The big banks have access to money almost as cheaply as in 2007, courtesy of the Fed, so bank profits are up and bonuses as generous as at the height of the boom.

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JP Morgan's $9bn payout stokes bonus fury 15.1.2010 The Guardian -- World Latest
• Bank made year-end profits of $11.7bn • Darling's bonus tax to hit hard • Profits fall short of analyst forecasts The Wall Street bank JP Morgan Chase has reignited a political furore over City pay packets by disclosing that it will hand out $9.3bn (£5.73bn) to its investment banking staff around the world despite facing a likely hit of "several hundred million dollars" from Britain's special tax on bankers' bonuses. JP Morgan's 24,654 investment bankers, including nearly 5,000 employees in London, will get an average of $379,000 each after the financial services group surfed a wave of recovery in global markets to notch up year-end profits of $11.7bn , more than double its earnings of $5.6bn during crisis-stricken 2008. The ...
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ThinkFast: January 15, 2010 15.1.2010 NewsTrust Yahoo Pipes Feed
In a Washington Post op-ed, White House Senior Adviser David Axelrod rebukes Karl Rove today for saying the Obama administration “will run up more debt by October than Bush did in eight years.” “The Bush administration’s swing from surpluses to deficits added more debt in its eight years than all the previous administrations in the [...]
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Editorial: Whose Bonuses Are They? 15.1.2010 International Herald Tribune: Editorials
Congress should pass a one-off tax on bankers’ bonuses and collect a fee from big banks, whose profits were largely underwritten by taxpayers.
US banking levy expected to raise $90bn 14.1.2010 Financial Times US
President Barack Obama will announce a sweeping new levy on about 50 financial institutions that will raise an estimated $90bn to reduce the federal debt
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Few Burns for Four Bankers on the Hot Seat 14.1.2010 NY Times: Business
The Wall Street bankers were humiliated, fidgety and somewhat contrite in a hearing held by the commission established to examine the causes of the financial crisis.

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