Comments on: Cuomo Prepares to Embarrass Banks Over Top Level Pay http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html Mon, 23 Nov 2009 10:17:20 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23811 Anonymous Fri, 31 Oct 2008 02:28:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23811 These crooks have no shame after their massive looting scheme went bust. These crooks have no shame after their massive looting scheme went bust.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23810 Anonymous Fri, 31 Oct 2008 02:22:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23810 The true cost of fascism is apparent here. The true cost of fascism is apparent here.

]]> By: RichardP http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23791 RichardP Thu, 30 Oct 2008 22:09:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23791 It is the huge incentive payments that have caused this problem in the first place. If a company is contracted to pay someone $20 million or $50 million for a "good year," that person faces an "end game" situation where winning means nothing in the future matters. So, they will take huge risks with other people's money, maybe shoot grandma, to get the bonus. The idea that you can't find "qualified" people to sit at the top of these organizations without paying these kinds of amounts is insulting, absurd, and obviously self-serving. It is the huge incentive payments that have caused this problem in the first place. If a company is contracted to pay someone $20 million or $50 million for a “good year,” that person faces an “end game” situation where winning means nothing in the future matters. So, they will take huge risks with other people’s money, maybe shoot grandma, to get the bonus. The idea that you can’t find “qualified” people to sit at the top of these organizations without paying these kinds of amounts is insulting, absurd, and obviously self-serving.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23789 Anonymous Thu, 30 Oct 2008 21:40:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23789 Cuomo better be squeaky clean in his private life. Even though I view this as politics I still hope he forces some change.<br/><br/>Hope he learned from Spitzer's fall. Cuomo better be squeaky clean in his private life. Even though I view this as politics I still hope he forces some change.

Hope he learned from Spitzer’s fall.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23783 Anonymous Thu, 30 Oct 2008 19:42:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23783 Embarrass? <br/><br/>Cuomo is losing his time. Wall Street doesn't have any concept of shame. Embarrass?

Cuomo is losing his time. Wall Street doesn’t have any concept of shame.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23780 Anonymous Thu, 30 Oct 2008 17:44:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23780 We all agree, this is the biggest rip off in history. My point is, lets not let it happen again. I think a law that specifies "Claw backs" woulda prevented this in the first place and will not let it happen again. The Idea being, if the executives thought they may have pay clawed back if the bank looses money OVER THE LONG TERM, then the bonuses get pulled back. THink Angelo mozillo woulda made those loans if he wasn't going to retire soon and coulda lost his pay? THink S&P woulda rated those mortages if they had some type of fiduciary dudy to the financial community? A claw back would put an end to this in my opinion... We all agree, this is the biggest rip off in history. My point is, lets not let it happen again. I think a law that specifies "Claw backs" woulda prevented this in the first place and will not let it happen again. The Idea being, if the executives thought they may have pay clawed back if the bank looses money OVER THE LONG TERM, then the bonuses get pulled back. THink Angelo mozillo woulda made those loans if he wasn't going to retire soon and coulda lost his pay? THink S&P woulda rated those mortages if they had some type of fiduciary dudy to the financial community? A claw back would put an end to this in my opinion…

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23778 Anonymous Thu, 30 Oct 2008 17:37:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23778 Cuomo is just throwing a bone at average Joe. CEO will always take the bacon, and leave Joe in the dust.<br/><br/>Remember Spitzer? Lawsuits were in fact to get the NY office, and business for his buddies. The real aim was to have money and power to shake the girl friend of average joe in hotels.<br/><br/>Average joe always get sticked. <br/><br/>Lost his stocks at the BOTTOM!<br/><br/>http://www.marketwarnings.com/2008/10/spring-on-right-side-of-wall-street.html Cuomo is just throwing a bone at average Joe. CEO will always take the bacon, and leave Joe in the dust.

Remember Spitzer? Lawsuits were in fact to get the NY office, and business for his buddies. The real aim was to have money and power to shake the girl friend of average joe in hotels.

Average joe always get sticked.

Lost his stocks at the BOTTOM!

http://www.marketwarnings.com/2008/10/spring-on-right-side-of-wall-street.html

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23771 Anonymous Thu, 30 Oct 2008 14:36:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23771 Is it mere simple coincidence that pseudo profits and actual cash pulled out of the banks is nearly equal [for sue there is likely some non-cash compensation in the figure] ...<br/><br/><br/>Sure is odd though. Is it mere simple coincidence that pseudo profits and actual cash pulled out of the banks is nearly equal [for sue there is likely some non-cash compensation in the figure] …

Sure is odd though.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23769 Anonymous Thu, 30 Oct 2008 14:19:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23769 We need as a nation to start placing tv crews outside these executives homes 24/7. <br/><br/>They then should be followed and questions launched through loud-speakers. <br/><br/><br/>There should be special websites <br/>dedicated to them. <br/><br/>They should know no peace. We need as a nation to start placing tv crews outside these executives homes 24/7.

They then should be followed and questions launched through loud-speakers.

There should be special websites
dedicated to them.

They should know no peace.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over.html#comment-23766 Anonymous Thu, 30 Oct 2008 14:06:00 +0000 http://www.nakedcapitalism.com/2008/10/cuomo-prepares-to-embarrass-banks-over-top-level-pay/#comment-23766 Mr. Cuomo must have forgot about federal preemption and visitorial powers issues - he has no authority to investgate a national bank - most of these entities are federally chartered. If I were them I would ignore Andrew. Mr. Cuomo must have forgot about federal preemption and visitorial powers issues – he has no authority to investgate a national bank – most of these entities are federally chartered. If I were them I would ignore Andrew.

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