Monday, October 06, 2008
No moola for CEOs, well then, no thank you to the bailout???
by Larry Geller
One of the least attractive elements [in the revised bailout bill] is a section designed to curb executive pay at banks that participate in the bail-out package. These include limiting stock-related pay and banning 'golden parachutes' for executives.
'I think this hodge-podge of regulations and rules will be enough to put many [chief executives] off participating,' [Thomas] Caldwell [CEO of Caldwell Financial, a $1 billion-plus fund manager] said. [The Guardian (London), 10/5/2008]
I’m not sure what this means, or whether it will come true, but I thought I’d mention it.
Reading the European papers’ take on this past week’s American circus is very interesting, especially as many European found that their economies were very deeply involved in the American-made crisis.
hmmm...suddenly it's not a crisis anymore? CEOs get to "opt out" because they don't like the terms? i am so tired of being aghast my jaw muscles hurt.