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The executive compensation and bonus situation in the UK. RBS and othe banks and the public outcry. As RBS shares drop to 12 pence or less than the price of a candy bar, loss for 2008 is 28 billion pounds, and the British government comes up with $20 billion pounds of government money for RBS and takes 70% ownership, reports in the Sunday Telegraph suggest executives plant to handout $1 billion in bonuses. How?
Linked Articles
U.K. Boosts Its Bailout As Bank Losses Rise
Wall Street Journal 01/20/2009
British Official Plans a Review of Bonuses After OutcryNew York Times 02/09/2009
Schapiro and Khuzami, the new faces at the SEC as chief and enforcement director, are the old faces at FINRA which took ahands off view of self regulation of the financial industry and the old faces at Deuteche BAnk as inhouse lawyer. Sir James Crosby, the head of HBOS bank in the UK which needed $17 billion f government money in 2008, was made Deputy chairman of the Financial Services Authority in 2006, Britain's main regulator. He reisgned hours before a stormy session in the House of Commons which embarrassed Prime Minister Brown after some revelations about Crosby,s role in the mess.
Linked Articles
Obama's Pick to Head SEC Has Record Of Being a Regulator With a Light Touch
Wall Street Journal 01/15/2009
British Regulator Quits as Accusations Mount in Banking CrisisNew York Times 02/12/2009
Linked Articles
Wall Street Journal 01/09/2009
Panel Releases Findings in Olympus CaseWall Street Journal 12/06/2011
Linked Articles
Whatever Happened to Silicon Valley Innovation?
BusinessWeek 12/31/2008
The Big MehNew York Times 05/25/2015
Both the automakers unions and management lacked the vision and courage to break totally with the status quo. The unions in hanging onto higher medical benefits and the management onto their higher compensation, and the management failing to shift to higher fuel efficiency standards comparable to competitors in Europe as mandated by the EU. In the process they stand to lose the higher medical benefits, and the higher compensation under government oversight as condition for loans, and along with that the jobs of unions and of management as well as the huge downsizing occurs in 2009.
Linked Articles
New York Times 12/05/2008
Toyota delays new Prius plantDetroit News 12/16/2008
What short sellers are doing to destroy value in large financial institutions and the failure of the government and the SEC to reinstate the uptick rule remains a glaring omission.
Linked Articles
Shares Falling, Citigroup Talks to Government
New York Times 11/22/2008
Anatomy of the Morgan Stanley PanicWall Street Journal 11/24/2008
The falling clout of the Detroit automakers as the nation changed and things changed but the automakers dug in their heels into the status quo.
Linked Articles
Clout Has Plunged for Automakers and Union, Too
New York Times 11/18/2008
Bridge Loan to NowhereWall Street Journal 12/06/2008
Linked Articles
Fix income inequality with $10 million loans for everyone! - The Washington Post
Washington Post 04/13/2012
FDIC Chief Raps Rescue for Helping Banks Over HomeownersWall Street Journal 10/16/2008
Drops in commodity prices lead to sharp fall in Latin currencies.
Linked Articles
Economist 10/16/2008
Reality Reaches Latin AmericaWall Street Journal 10/13/2008
After some fumbling in the bank run on Northern Rock, Gordon Brown and Alistair Darling come up with what the Wall Street Journal calls "A Plan at Last," as if heaving a sigh of relief after Paulson and Bernanke's own fumbling with troubled assets program.
Linked Articles
U.K. Chiefs Repair Image With Bailout
Wall Street Journal 10/14/2008
A Plan -- at LastWall Street Journal 10/09/2008
In "The War Within" Woodward described how Bush persevered to get the job done right in Iraq. In "The Price of Politics," Woodward describes how Obama failed to use his presidential leadership and suthority to get all sides to reach an agreement. Bill Keller of the NYT says Obama failed to make the "unpleasant choices" a president has to make, including supporting the president's own Simpson-Bowles Commission on the U.S. deficit.
Linked Articles
Wall Street Journal 09/15/2008
Notable & QuotableWall Street Journal 09/07/2012
FDIC's Sheila Barr voices concern for a lack of serious homeowner help and an incomprehensible reluctance to do anything serious for homeowners in Congress or the Bush Administration even as Barr, Paulson and Bernanke offered no choice to CEO's of leading banks at the meeting last week in Paulson's offices but to sign term sheets for accepting $125 billion from the government. Another $125 billion goes to smaller banks. And a unspecified amount goes to buy troubled assets under TARP, and money to buy commercial paper, and other institutional help. Still nothing on a large comprehensive basis to help homeowners in difficulty which is at the root of this crisis according to Feldstein, Hubbard, Bair.
Linked Articles
FDIC Chief Raps Rescue for Helping Banks Over Homeowners
Wall Street Journal 10/16/2008
Agency’s Head Expects Banking’s Crisis to WorsenNew York Times 08/27/2008
Britain and other European countries want to continue dialogue and integration with Russia and not let Georgia affect their relationships with Russia.
Linked Articles
U.K. Takes Softer Tack In Dealing With Russia
Wall Street Journal 08/20/2008
Russia Never Wanted a WarNew York Times 08/20/2008
Avoiding wasteful spending and balancing government initiative with efforts to get private investment and initiative through tax cuts and incentives to companies.
Linked Articles
Wall Street Journal 01/16/2009
Government Spending Is No Free LunchWall Street Journal 01/22/2009
How the decline in foreign trade unlike anything seen since 1945 is affecting the US and global economy.
Linked Articles
Trade Secret: GDP's Pillar Looks in Peril
Wall Street Journal 01/13/2009
Global Trade Posts Sharp DeclineWall Street Journal 01/14/2009
The automakers with their huge overcapacity face a rapidly developing crisis, as they will be forced to close plants quickly. A similiar situation is likely to develop gradually in other industries that have overcapacity from falling sales and a reluctant consumer, who is now focussed on saving.
Linked Articles
Automakers' Overcapacity Problem
BusinessWeek 12/31/2008
The Doomsayers Who Got It RightWall Street Journal 01/02/2009
The reluctance of the German chancellor and her Finance Minister to match the large stimulus spending of France and Britain.
Linked Articles
New York Times 12/15/2008
German Talks Address Long-Term StimulusWall Street Journal 12/15/2008
Readers reactions to Rubin's defense of his work at Citgroup and his $115 million compensation since 1999.
Linked Articles
Rubin Should Simply Say He's Sorry and Then Leave
Wall Street Journal 12/05/2008
Rubin, Under Fire, Defends His Role at CitiWall Street Journal 11/29/2008
How the automakers failed to convince Congress and end up in a three way battle in Congress between the Democrats, Republicans and the midwestern Congressmen with things like automakers private jets drawing scrutiny over how this industry was diffeerent in the way it did things including the higher medical benefits of union workers that burdened the companies.
Linked Articles
Detroit’s Bid for Aid Fails For Now
New York Times 11/21/2008
Terms of a Rescue PlanBusinessWeek 12/11/2008
A misstep that leads to falling behind the Europeans and the Japanese in innovating and investing early in the area of fuel efficiency.
Linked Articles
Wall Street Journal 11/15/2008
Clout Has Plunged for Automakers and Union, TooNew York Times 11/18/2008
From UAW President Gettelfinger's view consolidation would only mean loss of even more jobs to a devastated Detroit. A better source of cash for GM would be more loans from the federal government as democratic candidate Obama has suggested a $50 billion loan package. At that point a Chrysler consolidation if it were to occur could be done through a rationall consolidation or merger as opposed to the large closures that the present situation might require.
Linked Articles
UAW chief opposes GM-Chrysler merger
Detroit News 10/14/2008
Howes: One of Big 3 may not surviveDetroit News 10/14/2008
Gordon Brown is winning the support of many experts and governments in the remarkable leadership he has shown in this global financial crisis and his plan and execution.
Linked Articles
New York Times 10/13/2008
Rescue Plan Comes Around to Views of the AcademicsWall Street Journal 10/11/2008
Cable by a career foreign service officer, the British ambassador in kabul on the loss of trust in Karzai government. The head of the provincial council in Kandahar is Karzai's brother who is said to be involved in the heroin trade.
Linked Articles
Reports Link Karzai’s Brother to Heroin Trade
New York Times 10/05/2008
‘Dictator’ Proposed for Afghanistan in Leaked CableNew York Times 10/04/2008
Lehman may be allowed to fail or a sale arranged by Treasury without taxpayer funds.
Linked Articles
No Deal Reached Yet to Decide Lehman's Fate
Wall Street Journal 09/13/2008
Sink or Swim for LehmanWall Street Journal 09/12/2008
Before the FDIC took over IndyMac bank Sheila Bair who heads the FDIC had given her own proposal to tackle the mortgage crisis and credit cris. Now she can use the IndyMac bank to develop a model for resolution of failed banks.
Linked Articles
Agency’s Head Expects Banking’s Crisis to Worsen
New York Times 08/27/2008
FDIC Unveils Plan to Aid IndyMac BorrowersWall Street Journal 08/21/2008
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