Clawing Back at Exec Comp (part II)
The NYT hits upon a subject we have discussed repeatedly in the past: Why are CEOs allowed to keep bonuses based on profits that were ephemeral, false or even fraudulent?
As regulators and shareholders sift through the rubble of the financial crisis, questions are being asked about what role lavish bonuses played in the debacle. Scrutiny over pay is intensifying as banks like Merrill prepare to dole out bonuses even after they have had to be propped up with billions of dollars of taxpayers’ money. While bonuses are expected to be half of what they were a year ago, some bankers could still collect millions of dollars.
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Thursday, December 18, 2008 | 09:58 AM | Permalink
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