DAVID MCCANN – At a time when news of banking scandals is uncomfortably frequent, a new report says that last year only 17% of global banking organizations â€œclawed backâ€ compensation payments previously made to employees. The survey of financial-services institutions by the consulting firm Mercer was not expansive, with only 42 banks participating (in addition to 18 insurance companies and three other types of firms). Still, the results may suggest that regulators are not achieving the objectives of their persistent calls for banks to implement clawback policies.
Looks Like the 1% is Going to Get Away with It
PETER J. HENNINGS – The criminal investigation was prompted by a referral from the Senateâ€™s Permanent Subcommittee on Investigations, based on its 635-page report on the financial crisis that included details on Goldmanâ€™s transactions in mortgage-backed securities. The report highlighted potential conflicts of interest in how Goldman dealt with its clients and questioned whether Mr. Blankfein testified truthfully at an April 2010 subcommittee hearing when he said that the firm did not have a â€œmassive shortâ€ position to bet on a decline the housing market.
GTO: Give Thanks for Occupy
TYGER RICARD – We are told, and have come to accept, that the Occupy movement lacks focus, direction, and purpose. How can a group be successful without a linear plan and a list of demands? How does camping in a park solve the world’s problems? Onlookers often say that in the last two months, Occupy has yet to accomplish anything. As we come to Thanksgiving, however, I want to offer seven reasons to give thanks for the Occupy movement.
Top Ten Tax Avoiders
WORKINGINAMERICA.ORG – Read the following Top Ten Tax Avoiders, and think about the closed schools, struggling students, empty firehouses, and the unemployed workers dreading the day their benefits run out. It doesnâ€™t need to be this way.