Sunday, June 8, 2008

Now this could prevent fraud at mortgage lenders in future

Pay It Back if You Didn’t Earn It

READY for some good news from your humble research assistant? During this proxy season, almost 300 companies adopted provisions allowing them to recover executive pay that they find to have been based on incorrect financial statements. Four years ago, such clawback policies were found at only 14 companies.Only in executive payland would figures like these qualify as progress. But having boards agree to go after pay that was not in fact earned is, oddly, still something of a battle. Although pay for nonperformance — or even failure — seems an obvious no-no, shareholders have had to push hard in recent years to have companies institute such provisions.The most common — in 131 cases — were those that kick in when fraud is uncovered.

Posted by lvmreader @ 11:18 PM (586 views)
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5 thoughts on “Now this could prevent fraud at mortgage lenders in future

  • Imagine Adam Applegarth being forced to pay back all the £700,000.

    or

    That B&B person, Crawshaw getting £800,000

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  • japanese uncle says:

    This rule should apply on 10 year retroactive basis.

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  • @JU

    Absolutely!

    Good to see you back posting more. I hear that in Japan, people are worried that the fishing fleet is not going to be able to go out to fish with these high oil prices.
    Also people in the countryside areas are looking to sell their cars, since they cannot afford to run them.

    And then this guy, Kato, in that 2-ton truck and the stabbings!!

    Do you have relatives in Japan? What is being said?

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  • japanese uncle says:

    Some British media reported this man belonged to the mob, ie Yakuza, which proved untrue.

    This man was another ‘temporary employee’ working in a factory on completely the same conditions as his ‘regular employee’ colleagues, except that his pay is 50% lower, and that without any benefits (as a result of an exploitation by the temporary employment agency that operates in-between), who went berserk after all when he realized he was utterly ‘tired of life’. Being slave-driven every day, no savings no career accumulation, thus hope for the future. This is the danger of a society in which the rich is quickly getting richer while the poor the poorer. Having said that, I simply cannot rule out that this man could have possibly been under mind-control as same as Sahan Sahan was when he allegedly assassinated Robert Kennedy. Driving the mass by terror is the lesson one for effective dictatorship, as terror-driven people will seek security even at the cost of their civil liberty and become reliant on stronger authority.

    Just off-the-topic, but read this FT article casting serious doubt over the ‘official theory’ about 911. Now FT is to be called ‘Conspiracy Theorist’? Hahaha. It is simply the matter whether a person has minimum level of intelligence to question the questionable, or NOT.
    ——————————————————–
    The truth is out there
    By Peter Barber
    Published: June 7 2008 01:22 | Last updated: June 7 2008 01:22
    When Cynthia McKinney speaks the words of Martin Luther King Jr, they resound through the church with some of King’s cadence. “A time comes,” declares the former US congresswoman from Georgia……………
    http://www.ft.com/cms/s/0/8d66e778-3128-11dd-ab22-000077b07658.html?nclick_check=1
    ——————————————————————–
    Speaking about the oil price, I think it is about time that we learn to stop being dictated by those oil villains. Just try to use as little oil as possible while we must speed up developing alternative technologies involving non-petro energy, in which Japan is by far the most advanced, thus the most favorably positioned for the next few decades. Those vicious speculators and the seemingly collaborating oil producers must realize that oil is not necessary the basis of our industrial society, but cheap oil happened to have been. Stupid rigging of oil price just encourage alternative options (nuclear energy at least the one based on conventional nuclear fission technologies is strictly rejected here simply because of the unacceptable level of its risk, as German government/people fully know. In the case of Japan or UK indeed which are surrounded by the sea, wave energy is a very strong option. For Japan geothermal energy is another valid option which is practically exploited in Iceland. Once we achieved all this, petroleum will prove to be none but stinking black liquid none will turn to)

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