Pay Day: In the midst of public outrage over executive bonuses paid out at AIG, government-run Fannie Mae also plans to pay four top executives at least $1 million in retention bonuses, reports the WaPo. The bonuses stem from decisions the government made when it took over the mortgage giant in September.
Falling Short: The inspector general at the Securities and Exchange Commission announced findings yesterday that show the SEC doesn't have adequate guidelines in place to enforce laws surrounding naked short selling, a practice that some investors blame for worsening the economic crisis, reports the WaPo.
Name Dropping: The Recorder has the story on an alleged international con man who authorities claim used the names of prominent law firms to make his scheme look legitimate. For example, the hedge fund manager told investors that Pillsbury Winthrop Shaw Pittman was legal counsel to his Fireside LS Fund.
More Bonus News: New York Attorney General Andrew Cuomo won a legal battle Wednesday to force Bank of America, which bought Merrill Lynch in December, to provide the AG's office with the names of Merrill employees with the 200 largest bonuses. The names are expected to become public as early as today.
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