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Jul 10, 2009
07/09
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CNN
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mr. feinberg said this is a bad idea, i don't think aig will do it.ey've got to deal with the american people who are very upset about these kinds of things. and i think just a pr nightmare will come back to haunt them, i think that's a problem. so i think probably pressure but particularly for mr. feinberg and from president obama will say to them, look, you know, why don't you just make sure that the american people are paid back first, at least a few dimes of their $180 billion. and we'll look at bones for you. right now, we're going to see the performance matching up with the bones. >> the other argument is they need to provide these bonuses, aig said this before to retain the talented employees to assure the company's long-term success and to be sure they're able to unwind and untangle the mess they were in. >> kiran, they made that -- they've said that -- they've made all kinds of excuses for these bones. i'm just telling you, i've been dealing with aig for the last year. i heard everything under the sun. and this is just another one of the excu
mr. feinberg said this is a bad idea, i don't think aig will do it.ey've got to deal with the american people who are very upset about these kinds of things. and i think just a pr nightmare will come back to haunt them, i think that's a problem. so i think probably pressure but particularly for mr. feinberg and from president obama will say to them, look, you know, why don't you just make sure that the american people are paid back first, at least a few dimes of their $180 billion. and we'll...
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Jul 10, 2009
07/09
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mr. feinberg that they have struck the right balance to distort excessive risk taking and reward performance for its top executives. that's a quote, kitty. >> but, brian, let's talk about, kenneth feinberg on behalf of the government is only reviewing the future bonuses and isn't this set on bonuses from previous contracts? >> that's absolutely right. these upcoming bonuses for next week are based on previous contracts, as are the $200 million bonuses set to be paid out next year. now, he -- that means kenneth feinberg will not necessarily rule on them. if he does not, aig will have to face the heat alone on this. and remember the scale of these, next week's bonuses only $2.5 million and the remaining $200 million scheduled to be paid out next year that from a previous contract, that will spark even more outrage. >> because it's taxpayer money, it will definitely create a reaction. >> it will. get ready next year. next week is small in comparison. next year, $200 million. >> thanks, brian todd. >>> coming up, an apology to black and hispanic kids kicked out of a suburban swim club. they stil
mr. feinberg that they have struck the right balance to distort excessive risk taking and reward performance for its top executives. that's a quote, kitty. >> but, brian, let's talk about, kenneth feinberg on behalf of the government is only reviewing the future bonuses and isn't this set on bonuses from previous contracts? >> that's absolutely right. these upcoming bonuses for next week are based on previous contracts, as are the $200 million bonuses set to be paid out next year....
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384
Jul 29, 2009
07/09
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CNBC
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mr. feinberg, right? he's going to be looking at this. does this bill stipulate, legisla legislate, whatever ate, $100 million or other large bonuses that are performance-based, is what i'm really asking. this is not a salary. this is performance-based bonus. >> well, the answer to your question is potentially, yes. sections for the legislation, again, don't read the slogan, read the bill. section 4 says that the s.e.c., the cftc are regulators of financial institutions, can prohibit any incentive-based compensation system that they do not believe is properly aligned with quote, unquote, sound risk management. read the bill. they have the power to do that. so, yes, they could prohibit this kind of incentive pay. and in america, i just don't think that's right. >> no. that is exactly what it says. representative meeks, it seems like you don't agree that that's what this says. and i'm looking at this text right here, and it does say that, that regulators can ban pay structures that are inappropriate risks to the financial institution. so it
mr. feinberg, right? he's going to be looking at this. does this bill stipulate, legisla legislate, whatever ate, $100 million or other large bonuses that are performance-based, is what i'm really asking. this is not a salary. this is performance-based bonus. >> well, the answer to your question is potentially, yes. sections for the legislation, again, don't read the slogan, read the bill. section 4 says that the s.e.c., the cftc are regulators of financial institutions, can prohibit any...
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378
Jul 28, 2009
07/09
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mr. feinberg told the wilmington newspaper last year that he did not tell me. so why he has changed his story, i don't know. but he clearly has. he's contradicted himself. the simple truth is, he did not tell me. i have done nothing wrong. i will make my case to the ethics committee, and i am confident that there will be a good outcome. >> now, this all stems from a confidential interview with the senate ethics committee and robert feinberg, who was a former countrywide executive. according to "the washington post," they interviewed the executive, and he said he worked as a loan officer and what conrad and dodd are saying stand in quote, direct correction to statements before they maintained they did not know they were part of the countrywide program. he is now saying they did know about this program. they did know about the sweetheart deal that former executive, there anglo mozilo had given to high-ranking officials. the beat goes on. >> had christopher dodd made any public statements because feinberg's testimony directly contradicted dodd's denial. >> he hasn
mr. feinberg told the wilmington newspaper last year that he did not tell me. so why he has changed his story, i don't know. but he clearly has. he's contradicted himself. the simple truth is, he did not tell me. i have done nothing wrong. i will make my case to the ethics committee, and i am confident that there will be a good outcome. >> now, this all stems from a confidential interview with the senate ethics committee and robert feinberg, who was a former countrywide executive....
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Jul 10, 2009
07/09
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CNN
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mr. feinberg is only reviewing future bonuses. these were from previous contracts. >> much of these were from previous contracts and mr. feinberg does not necessarily have to trul rule o them, and if he doesn't, aig has to take the heat pretty much on their own. but keep in mind the scale of these bonuses. next week is $2.5 million and next year is a scheduled payout of more than $200 million from a previous contract. when that comes to bear, a lot more outrage will come out. >> public relations nightmare for aig, no doubt about that. >> it is. >> brian, thanks very much. we're standing by the president of the united states and the first lady are about to land in accra, ghana. we'll go there live. you'll see air force one touch down. right here in "the situation room." stand by for that. >>> michael jackson'ser now says he suspects foul play in his son's sudden death and police say they can't rule out murder. the latest on the investigation from ""inside edition"" chief correspondent jim more. >>> and one-third of american service
mr. feinberg is only reviewing future bonuses. these were from previous contracts. >> much of these were from previous contracts and mr. feinberg does not necessarily have to trul rule o them, and if he doesn't, aig has to take the heat pretty much on their own. but keep in mind the scale of these bonuses. next week is $2.5 million and next year is a scheduled payout of more than $200 million from a previous contract. when that comes to bear, a lot more outrage will come out. >>...
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Jul 10, 2009
07/09
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mr. feinberg, who is the pay czar, the compensation czar that president obama appointed, i'm hoping that as aig goes to him that he will say how dare you. >> okay. one point point here. aig doesn't really need approval from feinberg, the compensation czar because the bonuses are linked to contracts from last year before it received bailout money. smelling a blog question here. we want to know what you think about this round of aig bonuses, if you would. go to cnn.com/tony. we give you a bit of a longer set up to the question on the blog. i rip on it a little bit, couldn't help myself. send us your thoughts. >>> disturbing details continue to emerge where hundreds of bodies were dug up and moved in an alleged plan to resell plots. families are arriving in droves wanting to know where their wanting to know where their relatives are. >>> welcome back to "cnn newsroom." give you an idea what's happening around the country. case in point, the rough stuff we're seeing moving towards chicago, heavy storms that are developing some near cedar rapids right along parts of the interstate just north
mr. feinberg, who is the pay czar, the compensation czar that president obama appointed, i'm hoping that as aig goes to him that he will say how dare you. >> okay. one point point here. aig doesn't really need approval from feinberg, the compensation czar because the bonuses are linked to contracts from last year before it received bailout money. smelling a blog question here. we want to know what you think about this round of aig bonuses, if you would. go to cnn.com/tony. we give you a...