To the Point
Big Banks, Big Bonuses and Big Government
A federal judge has accused two Wall Street firms of "lying to their shareholders" about executive compensation. At the same time, big banks that got taxpayer bailouts are resuming the practice of guaranteeing multi-million-dollar bonuses that don't depend on performance. Are new regulations needed? Also, documents show that Karl Rove played a key role in the firing of US Attorneys. On Reporter’s Notebook, how much do the Taliban and al Qaeda depend on the drug trade?
By Warren Olney • • 50m ListenA federal judge has accused two Wall Street firms of "lying to their shareholders" about executive compensation. At the same time, big banks that got taxpayer bailouts are resuming the practice of guaranteeing multi-million-dollar bonuses that don't depend on performance. Are new regulations needed? Also, documents show that Karl Rove played a key role in the firing of US Attorneys. On Reporter’s Notebook, do opium poppies fund religious extremists or do drug traffickers also trade in religion?
Banner image: Bank of America CEO Ken Lewis (R) and Merrill Lynch CEO John Thain shake hands at a press conference at Bank of America headquarters September 15, 2008 in New York City. Photo: Mario Tama/Getty Images
