— The author is a Reuters Breakingviews columnist. The opinions expressed are his own —
Financial Regulatory Forum
By David Lawder
WASHINGTON, Feb 3 (Reuters) – U.S. Treasury Secretary Timothy Geithner on Wednesday said insurer AIG’s contracts to pay hundreds of millions of dollars in bonuses were “outrageous” and appealed to Congress to help recoup the payments.
By Lisa Jucca and Martin Howell
DAVOS, Switzerland, Jan 29 (Reuters) – The world’s top financiers are at odds about how to fight back against a global push for tougher financial regulation, with commercial and investment banks struggling to reach common ground.
By Karey Wutkowski
WASHINGTON, Jan 20 (Reuters) – The Obama administration’s Wall Street bashing fell flat among voters in Massachusetts, but that doesn’t mean Democrats have ended their anti-bank rhetoric.
FRANKFURT, Jan 19 (Reuters) – Deutsche Bank <DBKGn.DE> is raising fixed salaries for staff and cutting variable pay, Germany’s flagship lender said on Tuesday as regulators and politicians pursue a clampdown on bonuses.
Deutsche Bank said the move arose from a review to ensure pay “remains competitive”. (more…)
By Elinor Comlay and Jonathan Stempel
NEW YORK, Jan 11 (Reuters) – New York’s attorney general asked eight major U.S. banks to turn over data on planned bonuses for 2009, amid a growing public outcry over payouts in light of the industry’s role in the near-collapse of the financial system and recession.
By Sudip Kar-Gupta and Sumeet Desai
PARIS/LONDON, Dec 16 (Reuters) – France singled out frontline financial traders for a special 50 percent tax on bonuses, following Britain by tapping into public anger over the pay deals of bankers whom many blame for the financial crisis.
By Steve Slater
LONDON, Dec 11 (Reuters) – Banks are likely to swallow the bulk of the cost of a shock UK tax on bonuses unveiled this week, rather than pass it on to staff or find loopholes, as more countries join the clampdown on payouts, industry experts and sources said.
By Philipp Halstrick and Edward Taylor
FRANKFURT, Dec 10 (Reuters) – Germany’s largest financial companies have agreed to enforce the Group of 20 recommendations on bonus rules in 2009, a year before they must, people familiar with the matter said on Thursday.