Re: Some Wall Street firms are looking for ways to sidestep tough new federal caps on compensation. [WSJ]

[David Farber <dave () farber net>]

Begin forwarded message:

From: "Ronald J Riley \(RJR Com\)" <rjr () rjriley com>
Date: March 17, 2009 8:30:39 AM EDT
To: <dave () farber net>
Subject: Some Wall Street firms are looking for ways to sidestep tough  
new federal caps on compensation. [WSJ]

The arrogance of banking and insurance companies has no bounds.  There  
is a serious moral rot which has spread throughout these businesses.


Ronald J. Riley,
Direct (202) 318-1595 - 9 am to 9 pm EST.

from The Wall Street Journal


March 17, 2009

Some Wall Street firms are looking for ways to sidestep tough new  
federal caps on compensation.

In response to expected bonus restrictions, officials at Citigroup,  
Morgan Stanley and other financial institutions that got government  
aid are discussing increasing base salaries for some executives and  
other top-producing employees, people familiar with the situation said.

The crackdown, part of the economic-stimulus package passed by  
Congress and signed into law by President Obama last month, limits  
bonus pay for the top five executives of any recipient of taxpayer  
capital through the Troubled Asset Relief Program, plus the 20 next- 
highest-compensated employees.

http://online.wsj.com/article/SB123724826580949187.html?mod=djemalertNEWS





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