www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

WORLD> America
US Congress wants say on Wall Street pay
(Agencies)
Updated: 2009-08-01 00:35

WASHINGTON: The House of Representatives moved toward passing legislation Friday reining in salaries and bonuses for high-paid executives, a day after the disclosure that nine banks that got billions of dollars in US government bailout money had awarded bonuses of more than $1 million each to some 4,800 employees.

Democrats, who blame excessive salaries and bonuses for contributing to the financial crisis, are pushing the bill to ban pay plans that encourage employees at large firms to take "inappropriate risks." It was expected to pass the House Friday, with the Senate due to address similar legislation after Congress returns in September from its recess.

The debate came one day after New York Attorney General Andrew Cuomo reported that the nation's biggest banks kept handing out million-dollar-plus bonuses in 2008 even as profits dwindled and they accepted billions in government aid.

"This is not the government taking over the corporate sector. . . . It is a statement by the American people that it is time for us to straighten up the ship," said Rep Melvin Watt, a Democrat.

Related readings:
US Congress wants say on Wall Street pay Lawmaker: Tougher rule for Wall Street pay
US Congress wants say on Wall Street pay Obama wants tighter checks on banks, Wall Street
US Congress wants say on Wall Street pay Citigroup 1Q results top Wall Street forecasts
US Congress wants say on Wall Street pay Michael Douglas puts his money on "Wall Street"

US Congress wants say on Wall Street pay No curbs on Wall Street pay despite meltdown

Republicans are reluctantly pushing back. They say they understand voter outrage but that severe restrictions should be imposed only on banks that accept government aid.

The legislation's ban on risky compensation would apply to any firm with more than $1 billion in assets, including bank holding companies, broker-dealers, credit unions, investment advisers and mortgage buyers Fannie Mae and Freddie Mac.

Rep Michael Castle, a Republican, said the effect would be to force "financial institutions who did not contribute to the crisis to pay for the mistakes of others."

Another Republican, Rep. Jeb Hensarling, said the government would be better off terminating the $700 billion bank bailout program established last year.

"If you quit bailing out risky behavior, Mr. chairman, you'll receive less risky behavior," said Hensarling.

The bill also tries to discourage excessive corporate pay by giving shareholders a nonbinding vote on compensation packages and requiring that compensation committees not have financial relationships with the company and its executives.

President Barack Obama had asked Congress to give shareholders "say on pay" and diminish management influence on compensation as part of a broader proposal to reform financial regulations. Frank embraced the idea but added the outright ban on risky incentives.

Cuomo's report Thursday concluded that large banks, including Bank of America Corp., Merrill Lynch & Co, JPMorgan Chase & Co. and Goldman Sachs Group Inc, were generous with employee bonuses last year.

Citigroup, which is now one-third owned by the government as a result of the bailout, gave 738 of its employees bonuses of at least $1 million, even after it lost $18.7 billion during the year, Cuomo's office said.

The New York-based bank received $45 billion in government money and guarantees to protect it against hundreds of billions of dollars in potential losses from risky investments.

Bank of America, which also received $45 billion in government money, paid $3.3 billion in bonuses, with 172 employees receiving at least $1 million and the top four recipients receiving a combined $64 million. Merrill Lynch, which Bank of America acquired during the credit crisis, paid out $3.6 billion, including a combined $121 million to four top employees.

主站蜘蛛池模板: 欧美一区二区三区不卡 | 综合在线亚洲 | 狠狠一区| 在线观看视频99 | 国产精品久久免费 | 亚洲视频免 | 午夜精品尤物福利视频在线 | 亚洲一区在线免费观看 | 99精品国产高清一区二区三区香蕉 | 韩国日本一级毛片免费视频 | 男人和女人搞黄 | 亚洲久久网 | 一级生性活免费视频 | 美女张开腿黄网站免费 | 欧美成人交tv免费观看 | 日本一区二区三区高清福利视频 | 九九视频精品在线 | 午夜在线视频一区二区三区 | 亚洲系列国产系列 | 撸久久 | 女教师的一级毛片 | 高清韩国a级特黄毛片 | 欧美一区二区在线观看免费网站 | 国内精品久久久久久影院老狼 | 欧美 在线 成 人怡红院 | 亚洲久久视频 | 国产亚洲欧美日韩在线观看一区二区 | 91tv成人影院免费 | 日韩在线视频观看 | 国产精品成人观看视频国产 | 国产亚洲精品成人一区看片 | 青青爽国产手机在线观看免费 | 国产原创视频在线 | 亚洲一区二区在线视频 | 免费国产黄网站在线观看视频 | 国产婷婷一区二区三区 | 俄罗斯黄色毛片 | 亚洲一级高清在线中文字幕 | 亚洲三级一区 | 久久99国产精品久久99无号码 | 中文字幕咪咪网 |