Bad Credit Loans

• Thain was criticised over expensive office refurbishment • Role as head of the troubled US lender could net him $6m The former Merrill Lynch boss John Thain, who was ousted a year ago amid a furore over lavish office expenditure, has won a chance to rehabilitate his career by landing a $6m-a-year (£3.8m) job as [...]

• Thain was criticised over bonuses and expensive office refurbishment • New role as head of CIT, troubled US lender, could net him $5.5m in shares John Thain, the former boss of Merrill Lynch, returned to the business world today when he was named as chief executive of troubled US commercial lender CIT Group. The company announced [...]

The megabanks could be split up – or might turn into footloose investment banks again More details please. On Thursday ­President Obama declared war on Wall Street – but what would ­victory look like? On day one, it seemed as if a break-up of JP Morgan, Morgan Stanley, Bank of America, Citigroup and Goldman Sachs [...]

Analysts predict big payouts despite political pressure Goldman Sachs bankers are forecast to enjoy an 81% rise in their pay and bonuses for 2009, even though the bank may be forced to respond to political pressure by reducing the amount of money it sets aside for employee payouts in the fourth quarter of the year. Goldman is [...]

Very telling little story out of Detroit this morning. The Detroit Auto Show is taking place right now, and a Michigan branch of the tea party movement was putting together a demonstrate outside the venue to protest government aid to the auto industry. Two people showed up. It turned out that other conservative Michiganders opposed the [...]

Appaloosa Management hedge fund manager David Tepper staked huge amounts on US banks surviving economic crisis A New Jersey hedge fund manager stands to enjoy a $2.5bn (£1.5bn) payday after placing an astute bet at the height of the global financial crisis that America’s top banks would live to fight another day. David Tepper, a former Goldman [...]

• Heads of nine leading banks go to Washington for summit• President airs irritation about lack of support for reform• Small business loans, mortgage relief and bonus payouts are among concerns covered in ‘very, very serious’ discussion The heads of the leading US banks were summoned to the White House yesterday for a “frank and candid” [...]

Moves comes day after Barack Obama accused Wall Street institutions of handing back funds simply in order to escape curbs on multimillion dollar bonus payouts Citigroup has been given the go-ahead by the US treasury to repay its $20bn (£12.3bn) of government bailout money, a day after President Barack Obama accused Wall Street institutions of handing [...]

Banks are still looking to get rich quick. Reckless risk-taking should be discouraged by limiting executive pay Kenneth Feinberg, the US Treasury department’s special master for compensation, delivered the highest-profile rebuke to Wall Street’s excess last week, slapping the seven companies under his office’s purview with a 50% cut in compensation for their top 25 employees, [...]

• ‘Pay tsar’ to cap salaries at $500,000 at bailed-out firms• Fed to tackle rewards for ‘imprudent risks’ Leading US banks will be subject to a dual crackdown on multimillion dollar pay packets, as the Federal Reserve set out broad plans to scrutinise remuneration and the Obama administration’s so-called “pay tsar” confirmed that salaries will be [...]