July 23, 2010 at 10:34 a.m.
Filed under:
Banking,
Chicago executives,
Corporate governance
By Reuters
Kenneth Feinberg on July 22 in Washington. (Alex Wong/Getty Images)
Pay czar Kenneth Feinberg said on Friday that 17 banks overpaid executives in late 2008 and early 2009 by about $1.6 billion during the financial crisis, when taxpayers’ money was being used to support them.
He proposed that financial firms adopt policies that would let them “restructure, reduce or cancel” bonus and other special payments to executives in future crises but said he had no authority to force banks to give back past overpayments. Get the full story »
April 27, 2010 at 5:19 p.m.
Filed under:
Banking,
Chicago executives,
Housing,
Investing
Associated Press | The CEO of Goldman Sachs testily defended his company’s ethics and business practices during the nation’s financial crisis on Tuesday, saying customers who bought securities from the Wall Street giant came looking for risk “and that’s what they got.”
“Unfortunately, the housing market went south very quickly,” Lloyd Blankfein told skeptical senators on an investigatory panel. “So people lost money in it.”
Get the full story: Goldman CEO denies wrongdoing in crisis.
