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Golden parachutes may be sole target of Treasury curbs; Other forms of compensation at banks not expected to be affected.(News)

Article from: Investment News Article date: November 03, 2008

Byline: Sue Asci

Restrictions on compensation that the Department of the Treasury is placing on senior executives at banks and other financial services companies as part of the federal bailout program will limit severance packages, though other forms of pay are unlikely to be reduced.

In the first wave of the Treasury's bailout program, $125 billion is being distributed to nine major banks. They are: Bank of America Corp. of Charlotte, N.C., Wells Fargo & Co. of San Francisco, State Street Corp. of Boston, and Citigroup Inc., JPMorgan Chase & Co., The Goldman Sachs Group ...

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McCain Bests Conservative Offensive in SC

Posted Jan 20, 08 8:00 AM CST in Politics 

McCain Bests Conservative Offensive in SC
Source: Associated Press

(Newser) – Despite an onslaught from uber-conservatives like Rush Limbaugh, John McCain managed to capture a chunk of the Republican establishment to win South Carolina. McCain's victory marked a dramatic difference from the last time conservatives blasted him out of the running in South Carolina in 2000, reports the Washington Post. "I think the people of South Carolina are getting to know John McCain now," said a supporter.

Limbaugh warned that McCain would "destroy" the GOP and former House majority leader Tom DeLay blasted him for working with the "most liberal Democrats." But McCain's future is far from in the bag. So far he has benefited from primaries that allow independents to vote. The coming contest in Florida is open only to registered Republicans, and will test his ability to galvanize a base that may be alienated by any deviance from a conservative party line.

More about:  John McCain • Florida primary • mainstream GOP

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Rudy Drops Out, Backs McCain

As expected, the former NYC mayor ends bid after weak finish in Florida

Associated Press Associated Press Jan 30, 08 5:14 PM CST
(Newser) - Rudy Giuliani ended his bid for the presidency as expected today and endorsed John McCain, the AP reports. Giuliani made his announcement at the Ronald Reagan library in California, one day after a disappointing third-place finish in the Florida primary. With McCain at his side, Giuliani called it a "consolation, in the bitterness of losing," to be able to back the Arizona senator. "He's an American hero." More »

More about:  John McCain • Republican • Rudy Giuliani • Florida primary

OPINION

Mitt's Seconds Looking More Like Lasts

Without big win, and taking lumps from departing GOP rivals

Boston Herald Boston Herald Jan 30, 08 2:46 PM CST
(Newser) - Mitt Romney is “almost there” in his quest to narrow the GOP race to two, but the men he’s beating are hanging tough against him—and the silvers aren’t adding up to gold. The departing Rudy Giuliani is passing the torch to John McCain, while Mike Huckabee—"the Christian leader who never turns the other cheek to Romney"—is willfully staying in to siphon votes from Mitt, argues Boston Herald columnist Howie Carr. More »

More about:  John McCain • Mitt Romney • Rudy Giuliani • Mike Huckabee • Florida primary

Hispanics Key to Both Fla. Wins

Seniors also tip scales for McCain, Clinton

Miami Herald Miami Herald Jan 30, 08 8:10 AM CST
(Newser) - The Hispanic vote clinched the Florida victories of both John McCain and Hillary Clinton, the Miami Herald reports. McCain's POW experience especially resonated with Cuban-Americans, and Hispanic voters' fondness for Bill Clinton boosted Hillary, who won among Hispanics by a 2-1 margin over Obama. The strong presence of retirees also bolstered both McCain and Clinton. More »

More about:  Barack Obama • John McCain • Hillary Clinton • Florida • Florida primary • Hispanic • Latino voters

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