Stephen Spielberg can't make this up, this is getting out of control!
Now Wall Street may shun $700bn bail-out
Fears are mounting that many Wall Street banks and financial firms will refuse to participate in the US government's $700bn bail-out package, leaving global markets and world economies in a perilous state for months to come.
One of the least attractive elements is a section designed to curb executive pay at banks that participate in the bail-out package. These include limiting stock-related pay and banning 'golden parachutes' for executives.
'I think this hodge-podge of regulations and rules will be enough to put many [chief executives] off participating,' Caldwell said.
Tuesday, October 7, 2008
Most banks reluctant to participate in "bailout / gift" because the bill limits CEO's pay...
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