According to Charlie Gasparino, execs at Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America and Citi should gird their loins for the Compensation Cop to either announce that he’ll be clawing back their hard earned bonuses or to admit that he was just messing around, though they should really have seen the looks on their faces when they thought he might be serious.
nothing can stop the claw
Kenneth Feinberg To Inform Banks Whether Or Not He’ll Be Going After 2008′s Bonuses By The End Of The Week
By Bess LevinCNBC reports that managing directors in UBS’s investment management division will receive neither cash nor stock in ’09. As for 2010? Bonuses shall be 100 percent stock, with a three year vesting period attached to 1/3 of the package. AND if UBS has a loss over those three years, clawbacks will ensue.
Related: Bonus Watch ’09: BAC Get Bupkis
The Kind Of Perverse Genius Only The Swiss Could Develop
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