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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: clawback

clawback stories: 7 news summaries

 $534M Paid to Madoff 
 Victims; $4.5B to Go 

Trustee has recovered $1.4 billion in clawbacks, with more to come

Oct 28, 09 2:38 PM CDT
(Newser) - The government fund that insures brokerage firms has so far paid 1,368 victims of Bernie Madoff’s Ponzi scheme $534 million in reparations—more than it has paid out in all its previous liquidations combined, in its almost 40 years in existence. And it ain’t over, Madoff trustee... More »

MORE ABOUT:
Ponzi scheme • bank fraud • Bernard Madoff • Irving Picard • clawback • Securities Investor Protection Corporation • Jeffry Picower

OPINION

Stop Whining, Let Goldman Have Bonuses

$23B is galling, but
at least the bank is sensible: Sorkin

Oct 13, 09 5:45 AM CDT
(Newser) - On Thursday Goldman Sachs is set to announce its third-quarter results, but the talk of Wall Street is the size of this year's bonus pool—predicted to be more than $23 billion. That's the largest figure in the company's history and twice as much as it paid out in 2008,... More »

MORE ABOUT:
executive compensation • Goldman Sachs • bonuses • financial crisis • Wall Street bailout • Andrew Ross Sorkin • clawback • executive bonuses

 Fed Plans 
 to Oversee 
 Bankers' Pay 

Sweeping new rules will let central bank reject risky compensation plans

Sep 18, 09 5:48 AM CDT
(Newser) - A wide-ranging plan by the Federal Reserve to limit executive pay would allow government regulators to probe private financial institution's pay practices—and let the Fed block any policy it thinks may encourage undue risk. The plan is still being formulated and won't be finished for weeks, but it requires... More »

MORE ABOUT:
Wall Street • executive compensation • Federal Reserve • bonuses • compensation • risky trading • clawback • executive bonuses

Madoff Clients
to Get $100M
Back Soon

Funds address
fraction of 9,000
claims: trustee

May 14, 09 4:13 PM CDT
(Newser) - It's a start. Some of Bernie Madoff's clients will get back at least a portion of the money that he stole. Trustee Irving Picard says he expects to approve at least $100 million of investor claims—mere hundreds out of nearly 9,000 filed claims—by May 25, Bloomberg reports.... More »

MORE ABOUT:
investors • lawsuit • Ponzi scheme • defrauding investors • Bernard Madoff • Bernard L. Madoff Investment Securities • clawback

(Newser) - The White House might not be onboard with bills sprinting through Congress to tax away AIG’s outrage-inducing bonuses. Top White House financial advisers are reacting coolly to the suggestion, the Washington Post reports. “The president has been clear we don’t want to govern out of anger,... More »

MORE ABOUT:
Joe Biden • White House • AIG • bonuses • Obama administration • clawback

Madoff Profiteers Scramble From Threat of Clawbacks

New York law allows those who lost money to reclaim from those who gained

Mar 12, 09 10:40 AM CDT
(Newser) - The threat that authorities will seek to recoup profits reaped through their investments in Bernard Madoff’s Ponzi scheme have some investors hurrying to put those funds in hard-to-reach places, the Wall Street Journal reports, like homes, trusts or life-insurance policies. So-called “clawback” lawsuits could allow those who were... More »

MORE ABOUT:
profits • lawsuit • Ponzi scheme • defrauding investors • Bernard Madoff • Bernard L. Madoff Investment Securities • clawback • Bill Maher Grid

(Newser) - The trustee liquidating Bernard Madoff’s companies said today the disgraced financier appears not to have purchased any securities for his clients for “perhaps as much as 13 years,” Bloomberg reports. It was “cash in and cash out,” Irving Picard said. "It was all just... More »

MORE ABOUT:
fraud • SEC • Ponzi scheme • defrauding investors • Bernard Madoff • Irving Picard • clawback • Securities Investor Protection Corporation

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