FROM Nell Minow
Judge Stuns Wall Street, Tosses Out SEC Pact with BofA Executives at Merrill Lynch got $3.6 billion in bonuses just as their firm was about to be merged with Bank of America, but neither company told shareholders before they approved the deal. The Securities and Exchange Commission settled the case for $33 million. Yesterday Federal Judge Jed Rakoff said that fails to meet "the most elementary notions of justice and morality." Nell Minow is Editor at the Corporate Library and author of three books on corporate governance.
Public Outraged at Wall Street Excess With layoffs reaching massive proportions and the government spending billions to bail out financial institutions, Wall Street bankers gave themselves nearly $20 billion in bonuses. Private jets and expensive interiors are not things of the past. President Obama responded today by calling such bonuses “ the height of irresponsibility .” What can be done? Nell Minow is editor at the Corporate Library and co-author of three books on corporate governance .
Is Venezuela becoming a dictatorship? Venezuela may have the world's largest oil reserves, but it's a nation in trouble… economically and politically. Is a populist promise to rescue democracy turning out to be a prelude to dictatorship?
Mixed Messages from US diplomats on the new hard line on Syria Since President Trump's surprise retaliation against Syria's use of chemical weapons, Bashar al-Assad has used the same airport to launch conventional attacks on his own people. It's not clear what the US, its allies — or Vladimir Putin's Russia -- plan to do now.