New law has an effect on executive pay

[Aman A.K.A. Ahamburger]

All I can say, DON'T GIVE UP.

FDIC Charges, arrests, banks settling, ect...

Democracy lives on!!!

New law has an effect on executive pay: www.stltoday.com/business/columns/david-nicklaus/article_2ef7ab6c-dc54-5bc4-9512-2d8b61e8d36e.html

In the past, your opinion didn't really matter, even if you owned shares in the company. But this year, every publicly traded company in America must ask shareholders what they think of the bosses' pay package.

The 'say on pay" votes, which are required by the new Dodd-Frank banking law, are strictly advisory; the board of directors can ignore them if it wants to. They do, however, give shareholders a powerful new way to express their discontent with top brass.

Moreover, the mere prospect of having to defend pay practices is already causing some boards to do things differently. A survey by consulting firm Towers Watson found that 48 percent of companies were adjusting their pay-setting process in anticipation of the votes.

[Aman A.K.A. Ahamburger]

Lets add this on here too!

Massachusetts Ruling Slams Bank Foreclosure Practices
www.dailyfinance.com/story/investing/massachusetts-ruling-slams-bank-foreclosure-practices/19791847/

[texasredneck]

Ahamburger is AOL's Dailyfinance a free service or is it by subscription?

[vl]

What the MA court decided was-- that no bank can foreclose on a property they cannot show direct ownership of the instrument in. Therefore, if they sold off the instrument to a shell just to keep the bad credit loss off the primarily financials (smoke and mirrors), they bear no right to repossess it. That's a direct blow to Big Bank. Further, other states are now demanding to see the documentation file and actual instruments.
Unfortunately, there are states like Michigan where a senior law firm partner can be buddies with the judge, skip through the formalities and just foreclose with a nod.
As for Executive Pay... what Boards need to realize is-- ignoring shareholder concerns prompts shareholders to show up at meetings where there just might be beatings. It's about time we Americans took back our nation from golfers, wealth heirs and career bureaucrats.

[Aman A.K.A. Ahamburger]

texas... It's an app for my blackberry. I can't remember if I paid for it or not.

Thanks for the karma Impaler, next time I can exalt it's all you bro!

It really seems like things are changing!

[djrick]

HSBC plans to double the basic pay of hundreds of its top investment bankers in a move that risks inflaming the row about City pay.

Amid growing opposition to large cash awards, from the government, regulators and the public, the banking group will significantly increase the percentage of the total payout that its senior investment bankers receive as salary, and reduce the bonus component. New Europe-wide rules, which are likely to be finalised next month, will defer the payment of bonuses and reduce the percentage paid in cash.

investmentwatchblog.com/hsbc-bank-decides-to-double-bankster-salaries-around-the-world-including-in-london-and-new-york-in-order-to-circumvent-european-rules-on-bankster-bonuses/