The Highest-Paid CEOs in Banking
J.P. Morgan Chase's Jamie Dimon made $18.7 million last year, putting him fourth on the list of highest-paid chiefs in banking. Which CEOs made even more?
wall street bonuses
Citigroup CEO Pandit Gets a 14,900,000 Percent Raise
Wall Street's bad bonus year did not extend to Citigroup's c-suite. CEO Vikram Pandit, who said he'd take a salary of $1 until Citi returned to profitability, pulled in nearly $14.9 million this year, and his fellow top officers took home big raises too.
Lean Bonus Season Ahead for Wall Street Bankers
With unemployment still high, late mortgage payments rising, and the number of Americans in poverty at record levels, it seems that Main Street is headed for a hard, cold holiday season. But, somewhat surprisingly, so too are the fat cats of Wall Street -- relatively speaking.
Are You Better Off Under the Obama Administration?
President Obama has officially launched his reelection campaign and when it's time to vote again many may ask themselves whether they are better off than they were four years ago. A close look at the statistics reveals the clear winners and losers so far.
New SEC Rule Gives Investors a Vote on Executive Pay
The Securities and Exchange Commission on Tuesday approved a measure that gives institutional shareholders a vote on executive pay at large corporations, part of regulators' efforts to give investors greater say over top-level salaries that have been described as excessive.
This May Be the Best Way to Put CEO Pay in Perspective
To wrap your head around how much someone like Larry Ellison makes, try comparing his compensation to the median income of an American household -- $49,777. His 2008 take of $543 million is the equivalent of the annual earnings of 10,908 average American families. Got that?
Bankers Expect a 7% Drop in Bonuses
Bankers worldwide are expecting smaller bonuses this year. Still, they will be hard pressed to find much sympathy as their base salaries were boosted -- in some cases doubled -- this year to compensate for the lower year-end bonuses.
The Hidden Cost of Big Wall Street Bonuses to Society
Though most Americans wish that Congress would rein in excessive pay on Wall Street, that won't happen while the huge campaign contributions keep flowing. And the financial industry's big money shell game drains away something more precious from our society than money -- it siphons off talent.
Morgan Stanley to Trim 2010 Bonus Pool by 10% to 25%
Morgan Stanley is reportedly planning to pay out 10% to 25% less in bonuses this year to its employees, an effort to cut costs as it deals with volatile market conditions. The cuts are slated to affect traders, back-office staff and other employee groups, but perhaps not unusually strong performers.
Buffett Will Bank $3.5 Billion for Saving Goldman
Berkshire Hathaway CEO Warren Buffett extracted onerous terms from Goldman Sachs when he saved it from a potential meltdown. Two years later, Wall Street is healthy again, Goldman wants Buffett out of its hair, and he's looking at a $3.5 billion profit on that $5 billion lifeline.
Legal Briefing: Sex Discrimination Suits Hit Goldman, Tyson
Investment banks and chicken slaughterhouses don't have much in common, but evidently they both aren't the easiest places for women to make a living, based on the gender discrimination lawsuits filed against Goldman Sachs and Tyson Foods this week.
Brokers With Fraud Convictions Keep Bonuses
Two former brokers convicted of securities fraud won't have to return the $4.45 million signing bonus they received from Morgan Stanley, ruled an arbitration board.
Paulson: U.S. to Get 'Every Penny' Back from Banks
In a chat with Warren Buffett, former Treasury Secretary Henry Paulson called on Congress to allow a special authority to wind down troubled financial institution without taxpayer-funded bailouts. He also predicted bailout money given to banks would be recovered -- with a profit.
