speech

Darling claims to ban automatic bonuses for UK bankers

September 28, 2009 - 7:47am | Banks and internet banks | News

Great Britain will ban automatic bonuses for bankers in a new law expected to be enacted within weeks, Chancellor of the Exchequer Alistair Darling told Labour Party members Monday.

In a speech at the party's annual conference in Brighton, Darling, who heads the U.K. Treasury, said the legislation will require bonuses to be meted out over several years. The law will also ensure that bonuses can be clawed back if bank performance deteriorates.

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What we shall learn from Obama’s speech on April 14

April 14, 2009 - 8:24am | Analytics | News

The president is giving an economic speech at Georgetown University on Tuesday as 100-day symbolic mark of his administration nears.

It is also known that the speech contains no significant policy announcements, but it rather outlines the state of the economy when Obama took office in January, actions of his administration, and future plans regarding troubled sectors. Advisers suggest, Obama shows the public that his policies are actually working, in order for him to insure the public's support for his future plans.

Barack Obama | economic crisis | speech | U.S. economy | U.S. President

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Treasury thrust TARP on the financial institutions, Wells Fargo thinks

March 16, 2009 - 9:22am | News | Other themes

Richard Kovacevich, Wells Fargo & Co. Chairman, during his speech on March 13 at Stanford University in California criticized the Troubled Asset Relief Program, and called the stress-testing banks “asinine.”

Kovacevich, 65, stated that when the U.S. Treasury persuaded the nation’s nine biggest banks to accept capital investments in October, it signaled the whole industry was weak, although some of them, including Wells Fargo didn’t need the capital.

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