If policy makers want to bring down bank pay, they should do something to make the industry more competitive, and to assure that no one expects the taxpayer to again pay all the costs if the industry blows up again. says Floyd Norris in the New York Times.

Stocks rallied Thursday, rebounding off of the prior session's rout, after reports showed the economy grew more than expected last quarter and jobless claims fell. The Dow jumped more than 2 percent—its best day since July.

Executive compensation - particularly bonuses - has been the source of much fury both on Capitol Hill and on Main Street. The Obama administration has also set it sights on these pay packages, most recently by cracking down on executive compensation at bailed-out firms. Given the attention being paid to multi-million dollar paydays, CNBC.com enlisted the help of Equilar, an executive compensation research firm, to find out which executives received the most massive bonus payouts of the decade.

Stocks rallied Thursday, rebounding off of the prior session's rout, after reports showed the economy grew more than expected last quarter and jobless claims fell.

Stocks rallied Thursday, rebounding off of the prior session's rout, after reports showed the economy grew more than expected last quarter and jobless claims fell.

Futures pointed to a positive open for Wall Street on Thursday ahead of the all-important U.S. third-quarter gross domestic product data.

Stocks tumbled to session lows late Wednesday, with the Dow down more than 100 points, as worries about the recovery gripped the market.

Stocks were lower at the halfway point Wednesday as investors shrugged off some good news and worries about the recovery gripped the market.

Stocksskidded Wednesday, despite a rise in durable-goods orders and some earnings beats, as worries about the recovery dragged on the market.

The weak consumer confidence report that hit U.S. stocks on Tuesday is having a lingering effect this Wednesday, with global stock markets falling and stock index futures pointing to another lower open on Wall Street.

Robert McCann, the former head of Merrill Lynch's brokerage unit, was named the head of UBS's private client group.

For Kenneth R. Feinberg, the process of cutting pay underscored the widening divide between Wall Street and the rest of America, where even a fraction of a banker’s pay seems like riches to many people, reports the NYT.

At long last the real agenda of Wall Street's harshest critics becomes clear, thanks to the arbitrary antics of a pay czar who answers to no one and a pandering Congress only too happy to jump onboard.

As Wall Street looks forward to a new era of blowout bonuses, the unthinkable is happening, at least at Credit Suisse, the big Swiss bank. It said on Tuesday that it would radically change the way it paid its employees, the New York Times reports.

Financial companies that were shored up by taxpayer money are now paying their employees bug bucks in compensation and benefits. The chairman of the Senate Banking, Housing and Urban Affairs Committee says that's a source of outrage in the country.