Word: bailouts
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...recent weeks on financial reform, 75% of those polled expect Wall Street to return to dangerous activities. Americans clearly want action: some 62% believe financial regulations need to be tougher, and 67% want the government to force pay cuts on top executives at Wall Street firms that received government bailout money. It's a bit of a turnaround for a country that has been leaning toward the less-regulation-is-better model of government. Yet most people are still wary of giving Washington too much say in running businesses. The majority, 57%, don't want government interfering with free enterprise...
...sluggish economic growth" could result in the failure of the scheme. Despite the risks, proponents say it's the only way to ensure that Ireland's banks start lending again. But for residents bearing the brunt of the country's economic slump, NAMA is little more than an inflated bailout for the gambling debts of developers and the banks that fueled their folly...
...most recent round of bonuses at some of the nation’s most moneyed corporations has not escaped the notice of the Obama administration, which has ordered average compensation reductions of 50 percent at seven of the largest recipients of federal bailout funds. The cuts will affect the executives of some of the companies most closely linked with the recession, including American International Group, General Motors, and Citigroup. However, other firms that have already paid off their bailout loans, like financial behemoths Goldman Sachs and Morgan Stanley, are immune from these restrictions and may continue to award massive bonuses...
...Obama administration’s move to slash the pay of many top executives at the seven firms that have still not paid off their bailout loans is an understandable attempt to create a sense of accountability for corporate executives. It is a bold policy move that attempts to send the message that irresponsible behavior should not and will not be rewarded with massive compensation...
...cannot be replaced with simply cutting executive pay. The recent cuts are, in reality, a slap on the wrist for executives who will still enjoy multi-million-dollar pay packages and does not affect companies who were equally complicit in the crisis if they have already paid off their bailout loans...