Banks, Bonus | featured news

A compensation review of 28 financial companies found that many of the bonus programs that economists said contributed to the financial crisis were still in place.

JPMorgan Chase's Jamie Dimon pulled in a roughly $17 million bonus in restricted stock and options for 2009, making him one of the best-paid banking chiefs around.

Two Democratic senators on Thursday proposed legislation that would impose a one-time tax on bonuses paid to executives of companies bailed out with taxpayer money.

American International Group plans Wednesday to pay another round of employee bonuses worth about $100 million, said several people familiar with the matter.

Finance Minister Christine Lagarde said France will slap a one-off 50% tax on bonuses awarded to bank employees next year.

Big shareholders at Goldman Sachs have asked the U.S.

The special federal paymaster is trying to persuade the American International Group, the insurance giant, to reduce a coming bonus payment of $198 million, but is running into legal hurdles despite rules curtailing bonuses at companies receiving assistance from the Treasury.

The embattled chief executive, under pressure over the disclosure of losses and bonuses at Merrill Lynch, told the board on Wednesday that he planned to retire, people briefed on the situation said.

The Securities and Exchange Commission filed charges Monday against Bank of America for misleading investors about billions of dollars in bonuses paid to top executives at Merrill Lynch following its purchase of the brokerage giant.

Troubled insurer asks Treasury to rule on several types of executive pay, most of which is owed to embattled derivatives division in March 2010.