Video Friday: Economic Outlook & TARP Hearing

Watch, as BNY Mellon’s Chief Economist Richard Hoey presents a summary of his October update.

We continue to expect a broad sustained global economic expansion over the next several years with the fastest growth in those countries in the strongest financial position (largely in the developing world) and the slowest growth likely in those countries with a debt hangover (largely in the developed world).

Another part of his message, although people are having a tough time digging out of debt, corporations have dramatically improved their positions. Profits have improved substantially, they refinanced their debt at lower cost and have been “cautious” about expanding capacity.

Also, panel II of a hearing of the congressional oversight panel
 subject: executive compensation restrictions for companies that received troubled asset relief program funds chaired by: Senator Ted Kaufman (D-DE).

Witnesses: Professor Kevin Murphy, the University of South Carolina’s (sic/means University of Southern California) Marshall School of Business; Professor Frederick Tung from Boston University School of Law; Rose Marie Orens, a senior partner at Compensation Advisory Partners; and Ted White, strategic advisor for Knight Vinke Asset Management and the co-chair of the International Corporate Governance Network Executives Remuneration Committee. (538 Dirksen Senate Office Building, Washington, DC. 12:21 P.M. EDT, today, 10/21/2010. FNS subscription required.)