Golden Parachute_其他_趣味英语-查字典英语网

Golden Parachute

FHFA director James Lockhart on Friday proposed limiting payments for departing executives, board members, contractors, outside lobbyists, and business partners. US senators including Charles Schumer of New York, Jack Reed of Rhode Island, and Richard Durbin of Illinois had urged FHFA to trim or eliminate bonuses for Mudd and Syron, citing their "failed leadership."

"We find it way out of line that these two executives will be rewarded with millions of dollars in bonus compensation at a time when taxpayer dollars may have to be deployed to cover any financial losses caused by errors in management," Schumer and Reed, both Democrats, wrote in a Sept. 9 letter to Lockhart.

3. Banks' boards of directors, encouraged by their shareholders, must look hard at reforming the pay of top bankers. The core problem is this: Bankers get stellar rewards in the good times and don't have to give money back when their strategy sinks the bank a few years down the road. They might miss a bonus, or even get fired - and float down to earth on the "golden parachute" negotiated in the flush years.

One way to change this would be for banks to hold a big chunk of bankers' pay in escrow, to be doled out over several years. A bigger share of a bankers' pay could be made in restricted stock that can only be sold over a fairly long period of time. Golden parachutes could depend on good performance through the executive's tenure.