Results tagged “executives”

Republican Senator Charles Grassley of Iowa told a Cedar Rapids radio station how he really feels about the AIG executives taking bonuses after needing to be bailed out with $170 billion in federal money: "I suggest, you know, obviously, maybe they ought to be removed. But I would suggest the first thing that would make me feel a little bit better toward them if they'd follow the Japanese example and come before the American people and take that deep bow and say, I'm sorry, and then either do one of two things: resign or go commit suicide. And in the case of the Japanese, they usually commit suicide before they make any apology." His spokesman later said Grassley was speaking rhetorically.

The NY Times reports that NYC business titans--CEOs of JPMorgan Chase, Goldman Sachs, Blackrock, Blackstone, News Corp--met with state and local officials "to discuss how they and government officials should respond to the financial crisis." And not surprisingly, "all seemed to agree that now was not the time to raise taxes or impose new regulations on their businesses," lest it inhibit growth. The executives pointed out how New York's taxes turn companies off from hiring in NY and the U.S. legal system is unattractive for foreign investment (issues that have been raised over previous concern of NYC's status as #1 Financial Center of the World slipping). Side note: Blackrock CEO Laurence Fink took exception to the public's hate of Wall Street fat cats, “The evil empire is not as evil as people think we are."