Bailout money
WASHINGTON – President Barack Obama on Wednesday imposed $500,000 caps on senior executive pay for the most distressed financial institutions receiving federal bailout money, saying Americans are upset with "executives being rewarded for failure." Obama announced the dramatic new government intervention into corporate America at the White House, with Treasury Secretary Timothy Geithner at his side. The president said the executive-pay limits are a first step, to be followed by the unveiling next week of a sweeping new framework for spending what remains of the $700 billion financial industry bailout that Congress created last year. The executive-pay move comes amid a national outcry over huge bonuses to executives heading companies seeking taxpayer dollars to remain afloat. The demand for limits was reinforced by revelations that Wall Street firms paid more than $18 billion in bonuses in 2008 even amid the economic downturn and the massive infusion of taxpayer dollars. An increase in the ban on golden parachutes from a firm's top five senior executives to its top 10. The next 25 would be prohibited from golden parachutes that exceed one year's compensation. A requirement that boards of directors adopt policies on spending such as corporate jets, renovations and entertainment. The administration also will propose long-term compensation restrictions even for companies that don't receive government assistance, Obama said. Those proposals include: • Requiring top executives at financial institutions to hold stock for several years before they can cash out. • Requiring nonbinding "say on pay" resolutions — that is, giving shareholders more say on executive compensation. • A Treasury-sponsored conference on a long-term overhaul of executive compensation.
Нужно посмотреть правде в глаза и признаться, что большинство управленцев российских структур, что называется being rewarded for failure. В огромных структурах как использовались средства нерационально до кризиса, так и будут использоваться, потому что уровень бесхозяйственности слишком велик. Нужно свести пожертвования до минимума и, наконец, выделить средства забитому, задавленному налогами и проверками МАЛОМУ БИЗНЕСУ. Он был задавлен до кризиса, а сейчас так и вообще тонет в ускоренном режиме.