Wall St. Robbers Get Big Bonus Money

[Jagger69]

Where is the goddamned oversight for this shit??? This REALLY fucking fries my ass....they don't even know if taxpayer money went to pay these fat-cat pricks!!! Obama calls it "outrageous"....let's see if he can do something about it.

http://www.reuters.com/article/ousiv/idUSWAT01087820090129

:thefinger Wall St. robbers!!!

 

[ChefChiTown]

Wow, that is "outrageous".

Even if they paid their employees with their own money (and not tax payer dollars), I think that it's still fucking ridiculous that they did such a thing, especially right after they received BILLIONS of dollars to prevent them going into bankruptcy. Do business ethics no longer exist in this country?

 

[Shindekudasai]

What did you expect?
If there is one constant in history, it's human greed. As long as there are at least two human beings breathing, one of them is always going to try to take advantage of the other(s) and will probably get away with it.
In Germany the government had to intervene in some cases or else the blamable bank managers or board members would have kept their jobs or would have been released with golden handshakes (multi-million Euro severance packages). And still most of them got away with it.

 

[Philbert]

Not that I'm surprised, or shocked, but why so much naiveté? Have none of you ever heard of "business as usual"?
Why would this situation be the first time a corporate structure reversed completely the standard operating procedure?
Did Obama Mania affect the logical thought of so many that there is shock at greed and avarice? What exactly shocks and surprises you?
Look for more hard times for the naive and the usual wealth to continue to go to those who control the flow...big business and lawmakers/regulators have the control and haven't given it up.

Saw a case on Lou Dobbs where a lady put $40,000 down on a $147,000 house, and didn't use a lawyer to review and advise her on the loan...she was put into a sub-prime mortage adjustable rate, and went from $880 a month to $1500; she's getting foreclosed by the end purchaser of her loan, Wells Fargo.
Just where does government step in? When she was tricked (she was not a sub-prime!), or when the brokers sold her loan 8-10 times? Or is she just cannon fodder for the flow of wealth?
Why was there no oversight in the Bailout bill? 'Cause there didn't have to be, hysteria provided the momentum and Congress provided the tax Dollars.

Look for plenty of Obama admin BAU. He's a Chicago politician...it's not like ya'll weren't warned.
In a few years, things will be the same or worse.
Nobody is giving up any wealth, believe in that. That's the actual change ($) they were refering to. :2 cents:

 

[ChefChiTown]

Look for plenty of Obama admin BAU. He's a Chicago politician...it's not like ya'll weren't warned.

Yes, but Chicago politicians know how to get shit done and they do it.

 

[Philbert]

Yes, but Chicago politicians know how to get shit done and they do it.

For the highest bid...we all know.
And you sound so proud of that fact...best politicians money can buy.

 

[Facetious]

Where is the goddamned oversight for this shit??? This REALLY fucking fries my ass....they don't even know if taxpayer money went to pay these fat-cat pricks!!! Obama calls it "outrageous"....let's see if he can do something about it.

http://www.reuters.com/article/ousiv/idUSWAT01087820090129

:thefinger Wall St. robbers!!!

The banks can just pick up and go to Hong Kong or wherever, if oversight becomes a bit much heavy handed. remember now, it's a global market, for better or worse.
I don't think that Obama, or any President can do much, short of turning u.s. in commys.


Also -
Obama had just better clean up his crew first, as his U.S.Treasury Secretary appointment,
Timothy Geithner, is a tax evader. Only upon learning that he was to become Obama's U.S Treasury Secretary nomination, does he pay his overdue tax obligation, free of penalty, maintaining that he made, now get this . . "a . m i s t a k e".
Yea, imagine that, the error resulting in the failure of payment for his tax shortcoming. You try to get away with that ! Ahhh, Membership has it's privileges.

Upon receiving his nomination to become the U.S. Treasury Secretary, Geithner also maintained that his office would not be penetrable to any special interest lobby, and what does he do, but hires a lobbyist as his chief of staff. The audacity !

 

[Latterer]

Wall Street unfortunately has proven it can't regulate itself in terms of salaries.I don't like government intervention, but we need Congress to set limits on what brokerage firms can reward their executives versus what they give their employees-I bet none of their middle management received any bonuses proportional to their salaries compared to what the executives received.

 

[BOOTSY]

Obama should try leading by example before he opens his hypocrite mouth...

$150,000,000 on an inauguration?

$300,000 on interior designers to remodel the white house?

CEO's taking huge bonuses seems inappropriate in these extraordinary economic times...but Obama has shown little leadership in setting the example for "change" in fatcat spending....

Not to mention 1,100,000,000 in a stimuus plan full of earmarks for paying back those that got him elected....

 

[paveman]

I'm not surprised either!
I hope, but don't think, Obama can do something about it and governments all across the world are putting an end to people just sponsoring themselves....

 

[maildude]

The more things change, the more they stay the same.

 

[Jagger69]

Do business ethics no longer exist in this country?

The oxy-moron to end all oxy-morons....business ethics.

Not that I'm surprised, or shocked, but why so much naiveté? Did Obama Mania affect the logical thought of so many that there is shock at greed and avarice? What exactly shocks and surprises you?

I'm not shocked nor surprised and I'm certainly not naive, Philbert. I'm PISSED! You'll also note that the bonuses were paid out during 2008 so Obama really didn't have any influence on it....we'll see what happens to "ethics reform" going forward during his administration. Personally, I'm skeptical about anything regarding regulation or oversight of big business by any governmental agency or individual. The American economic model has become laissez faire on crack and steroids. I don't know about the rest of you hard-working taxpayers but I'm about ready to go postal as this shit just keeps happening.

That asshole Cornyn and Kay Hutchinson (great lady by the way) are going to hear from me this morning. I urge all other American taxpayers to do likewise....not that it'll do much good I suppose. I'm tired of paying the freight for this kind of shit as my workload increases and my standard of living declines. Some American dream, huh? More like a fucking nightmare.

Well, enough ranting. I have to get to work to make more money for these fucks.

 

[Baill Inneraora]

Yes, but Chicago politicians know how to get shit done and they do it.

That’s the funny thing about Chicago. Sure the Daley machine might have been a little crooked in the last 40+ years, but they get things done.

Cleveland and Cuyahoga county has had a lot of corruption lately. A Clevelander told me recently, “I don’t really mind the corruption, if they ran the Government correctly like they do in Chicago/Cook County.”

 

[Facetious]

"Big Corporation" can defy any such payroll or compensation regulation via paying it forward in gold or preferable foreign currency.

Screw the dollar !

 

[Baill Inneraora]

Where is the goddamned oversight for this shit??? This REALLY fucking fries my ass....they don't even know if taxpayer money went to pay these fat-cat pricks!!! Obama calls it "outrageous"....let's see if he can do something about it.

http://www.reuters.com/article/ousiv/idUSWAT01087820090129

:thefinger Wall St. robbers!!!

You crazy libs just don’t understand economic principles. Saint Reagan showed us that if you give billions to Billionaires, it will trickle down and help the people on lower economic levels…………….just wait.

 

[ChefChiTown]

For the highest bid...we all know.
And you sound so proud of that fact...best politicians money can buy.

Richard Daley, Chicago's Mayor, is one of the most corrupt politicians in the United States but he has done more good for this city than any other "legit" mayor has done for theirs.

Most Chicagoans know that their politicians aren't the most honorable people in the world, but most Chicagoans also see the amazing things that they have done to keep Chicago one of the best cities in the world.

That’s the funny thing about Chicago. Sure the Daley machine might have been a little crooked in the last 40+ years, but they get things done.

Cleveland and Cuyahoga county has had a lot of corruption lately. A Clevelander told me recently, “I don’t really mind the corruption, if they ran the Government correctly like they do in Chicago/Cook County.”

Exactly. Remember Michael White? Michael White did a lot of good for Cleveland. He helped build it up into a temporary tourist attraction, generating a lot of money for the city. Only, he decided to keep a lot of that money for himself, rendering all of his work to be completely useless.

Cleveland is a shithole. Chicago is a thriving metropolis.

 

[titsrock]

The spirit of the these gov't bailouts was for Wall St firms and Banks to "clean up their business sheets." It was not to simply assist with "business as usual." It was "business as usual" that created this disaster/depression in the first place.

I think there will have to be some "blood in the street" as a result of this. Wall St has proven without a doubt that it can not govern itself. The gov't needs to step in, take some firms over and disintegrate other firms.

This story seems very reminiscent of that douchebag John Thain of Merrill Lynch who sold Merrill to BofA, hid the recent Merrill 4th Qtr 16bill loss from BofA, and then asked the BofA board for his bonus! Apparently he spent Merrill firm funds on bonuses before the merger went through and these execs took their bonuses and then quit BofA.

This story is also reminiscent of all the Wall St millionaires who committed suicide and jumped out of their offices during the Great Depression.

We are re-witnessing the Wealthy and the Powerful lose their minds when the markets turn on them. The decision to use TARP money for bonuses fits this psychological/trauma-induced/divorce from reality as we saw back in the Great Depression....

 

[Facetious]

This story seems very reminiscent of that douchebag John Thain of Merrill Lynch who sold Merrill to BofA, hid the recent Merrill 4th Qtr 16bill loss from BofA, and then asked the BofA board for his bonus! Apparently he spent Merrill firm funds on bonuses before the merger went through and these execs took their bonuses and then quit BofA.

Douchebag, thain is ! :yesyes:

Did you hear about his 1 million dollar office renovation, a $44K commode and a $14K waste paper basket etc. ?

B of A maintains that thain resigned from the firm. :rofl:


I only invest with those who offer fiduciary duty to do what's right for their clients.
Never a full service brokerage ! . . . like merrill

 

[titsrock]

^
I can't call Thain's behavior capitalistic piggish it's WAY beyond that...it's some sort of bastardized Corporate Monarchism?

 

[Jagger69]

^
Elitist events like this triggered the Russian revolution in 1917....