Wednesday, February 22, 2012

Morning roundup: Was Moynihan's pay fair?

Here's a look at what's news in banking and finance this morning:

  • Bank of America CEO Brian Moynihan collected stock options worth about $6 million, disclosed last week. While investors might wish the pay was lower considering the bank's performance in 2011, The Motley Fool says the amount is significantly lower than the bank's peers are paying their executives, and says BofA made the right decision.
  • Bank of America's stock rebound continues to be the talk of the financial world on an almost daily basis. Bloomberg reports today that an investment firm CEO says it's not too late to get in on the bank's rise.
  • The Consumer Financial Protection Bureau is turning its attention to overdraft fees, requesting data from the country's largest institutions, the Wall Street Journal reports.
  • Four bank fees "you should never tolerate," according to the Christian Science Monitor: Monthly account fees, check cashing fees, account maintenance fees and minimum balance fees.
  • Wells Fargo is buying another loan portfolio from a European bank, this time an energy lending business from France's BNP Paribas, Reuters reports.
  • The much-discussed Volcker Rule could have the effect of reinstating the division between commercial banks and investment banks, a distinction broken down after the repeal of Glass-Steagall, The New York Times says.


Notorious L.E.V. said...

Conservatives: Sure he's worth he...he's worth whatever the market says he is.

Liberals: Wahhhh. He should be taxed at 98%. Wahhh. The rich are evil and don't do anything but hurt the poor. Wahhhhhhhhh.

Anonymous said...

$1900.00 per hour. Who is worth that?

Anonymous said...

He turned around the stock price of his multi-billion dollar company. Sounds like he's worth however much the stock-holders think he should be paid to keep doing so.

Anonymous said...

obama has everyone worried about what everyone else is doing except those that live off perpetual government handouts and perpetual unemployment "insurance".

Next obama is going to to stick his hope and change into some liberals business that they think is off limits...then things will change.

Anonymous said...

Johnny Depp made $300,000,000 off on one film who lives in France. Spare me your liberal ignorance all of you.

Anonymous said...

What difference does it make now if it was fair or not? He's already got the money. Think he's gonna give it back just because people don't think it's "fair"?

Anonymous said...

Anonymous 5:04 PM

Now who is showing their ignorance? It wasn't just ONE film as you state; Depp made the money over the entire Pirate franchise..and he admits he is overpaid. As is every EMPLOYEE that is paid millions. No one person 'earns' that kind of money. I'm all for entrepreneurs making millions off of their companies or investments, but no single EMPLOYEE is worth millions.

Anonymous said...

Jealousy and envy look bad on you