tag:blogger.com,1999:blog-7697320.post4499723095823264053..comments2023-04-01T04:12:01.589-06:00Comments on The Daily Fuel: Outrage, Where Art Thou?The Daily Fuelhttp://www.blogger.com/profile/12636581068441603099noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7697320.post-15963525457918382702008-09-22T10:05:00.000-06:002008-09-22T10:05:00.000-06:00Hi Tom.While the idea of pursuing recovery of the ...Hi Tom.<BR/><BR/>While the idea of pursuing recovery of the indecent bonuses taken by CEOs when their companies were losing billions has been brought up by many voices in government, the media, and the public, I have seen no indication so far that the bailout package includes provisions for recovery of such funds or special prosecutions for unethical (or criminal) behavior of CEOs involved in the collapses. Perhaps such recovery can be attempted under the provisions of the Sarbanes-Oxley Act. <BR/><BR/>Otherwise, I am pretty sure I heard Sec. Paulson or some other administration figurehead say something to the extent that it would be impractical to seek redress by confiscating bonuses that have already been paid out. (He said nothing about how these Vegas jackpot style payouts are going to be prevented in the future.)<BR/><BR/>And here is a quote from an article on Politico.com which seems to confirm my fuzzy recollection, at least in part:<BR/><BR/>"Democrats, [...] have drafted a bill giving Paulson much of what he wants but requiring that Treasury also demand 'appropriate standards for executive compensation'. Treasury argues that such requirements would make it harder to persuade companies to sell their troubled assets to the government."<BR/><BR/>If anyone knows differently, please post a follow-up comment.The Daily Fuelhttps://www.blogger.com/profile/12636581068441603099noreply@blogger.comtag:blogger.com,1999:blog-7697320.post-67270604018238962662008-09-22T08:52:00.000-06:002008-09-22T08:52:00.000-06:00Outrage is right. Do you know if any of the deals...Outrage is right. Do you know if any of the deals that the Federal Gov is making with these companies involves taking some of the capital back from these CEOs who made fortunes while their companies were doing so poorly that taxpayers have to bail them out?Tomhttps://www.blogger.com/profile/05074257624733067171noreply@blogger.com