http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8052987/US-banks-the-bonus-pots-have-shrunk.html
No news in Europe about the foreclosure scandal rocking America.
Only concerns about a smaller bonus pool for the big banks
The question is, do they know, or do they just not care?
JP Morgan Chase kicks off a critical reporting season for US banks that will see less money poured into Wall Street's bonus pot as profits slide.
The US bank, which has fared better than most since the financial crisis started, is expected by analysts to report a third quarter profit of $3.8bn (£2.4bn), or 90 cents a share, on Wednesday, compared with $4.8bn or $1.09 a share, in the second quarter.
The summer has proved tough for banks' trading divisions on both sides of the Atlantic as deepening uncertainty over the global recovery reduced investors' risk appetite.
Showing posts with label Bank bonuses. Show all posts
Showing posts with label Bank bonuses. Show all posts
Sunday, October 10, 2010
Thursday, March 18, 2010
As banks binged on risky mortgages, govt rewarded regulators with taxpayer-funded bonuses
http://finance.yahoo.com/news/Govt-rewarded-bank-auditors-apf-3698670682.html?x=0&sec=topStories&pos=6&asset=&ccode=
Gee I wonder if we can demand a refund on the grounds of piss poor job preformance.
There must be a job opening for the Office of Thrift Supervision, because I don't see any being applied.
During the 2003-06 boom, the three agencies that supervise most U.S. banks -- the Federal Deposit Insurance Corp., the Office of Thrift Supervision and the Office of the Comptroller of the Currency -- gave out at least $19 million in bonuses, records show.
Nearly all that money was spent recognizing "superior" performance. The largest share, more than $8.4 million, went to financial examiners, those employees and managers who scrutinize internal bank documents and sound the first alarms. Analysts, auditors, economists and criminal investigators also got awards
Gee I wonder if we can demand a refund on the grounds of piss poor job preformance.
There must be a job opening for the Office of Thrift Supervision, because I don't see any being applied.
During the 2003-06 boom, the three agencies that supervise most U.S. banks -- the Federal Deposit Insurance Corp., the Office of Thrift Supervision and the Office of the Comptroller of the Currency -- gave out at least $19 million in bonuses, records show.
Nearly all that money was spent recognizing "superior" performance. The largest share, more than $8.4 million, went to financial examiners, those employees and managers who scrutinize internal bank documents and sound the first alarms. Analysts, auditors, economists and criminal investigators also got awards
Friday, October 16, 2009
Wall St. Is Winning: Elizabeth Warren "Speechless" About Record Bonuses
http://finance.yahoo.com/tech-ticker/article/355739/Wall-St.-Is-Winning-Elizabeth-Warren-%22Speechless%22-About-Record-Bonuses?tickers=XLF,FAS,FAZ,JPM,GS,BAC,C&sec=topStories&pos=8&asset=&ccode=
Comparing the situation today vs. a year ago, Warren observes:
•Even Too Bigger to Fail: A year ago the big concern was systemic risk and how to deal with 'too big to fail' firms, she recalls. Now "the big are bigger, we wiped out a lot of small folks and there's more concentration" in the banking system.
•Still Toxic: TARP was created explicitly to remove toxic assets from bank balance sheets. "They're still there by and large."
•Stress Test Failure: Unemployment has "blown through" the worst-case scenario in the stress test from February, Warren notes. But "we haven't repeated the stress test, or revealed any more information about what's going on inside these financial institutions."
In sum, "all the things going on [a year ago] that were serious, serious problems for the financial institutions seem to me are still serious, serious problems," she says.
Finally, Warren pulls no punches when it comes to her criticism of former Treasury Secretary Hank Paulson for his failure to put any restrictions on or monitoring of the initial TARP funds, and for using the money for something other than "toxic asset relief," as originally intended
Comparing the situation today vs. a year ago, Warren observes:
•Even Too Bigger to Fail: A year ago the big concern was systemic risk and how to deal with 'too big to fail' firms, she recalls. Now "the big are bigger, we wiped out a lot of small folks and there's more concentration" in the banking system.
•Still Toxic: TARP was created explicitly to remove toxic assets from bank balance sheets. "They're still there by and large."
•Stress Test Failure: Unemployment has "blown through" the worst-case scenario in the stress test from February, Warren notes. But "we haven't repeated the stress test, or revealed any more information about what's going on inside these financial institutions."
In sum, "all the things going on [a year ago] that were serious, serious problems for the financial institutions seem to me are still serious, serious problems," she says.
Finally, Warren pulls no punches when it comes to her criticism of former Treasury Secretary Hank Paulson for his failure to put any restrictions on or monitoring of the initial TARP funds, and for using the money for something other than "toxic asset relief," as originally intended
Subscribe to:
Posts (Atom)