Posted on 12/21/2008 7:50:59 AM PST by Joiseydude
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.
The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank performance, but still forked over multimillion-dollar executive pay packages.
Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the AP review of federal securities documents found.
(Excerpt) Read more at foxnews.com ...
Everyone will flock to what is least regulated. If it isn’t hedge funds it would be something else. Regulate everything and the $ will leave the country.
I’m poor so don’t pay much, either. Well, maybe we could just write nasty letters. LOL
I did write my reps about the first bailout. One of my congressmen voted against it, at least. I just worry that soon the dollar will be worthless compared to other currencies. Better spend ‘em while we got ‘em.
A lot like people on welfare. We taxpayers demanded that those on welfare work. No different with corporations — we have the right to dictate how they spend our money.
If they don’t like it, they don’t have to ask for help.
How would it be “capitalism” when they come to the government for a handout? Not that’s NOT capitalism, that’s THEFT.
“If they don’t like it, they don’t have to ask for help.”
they can ask for anything they want but congress and Bush didn’t have to listen to them.
The same people who caused this problem by allowing Fannie Mae to cook their books worse than Enron all got re-elected. Corruption is widespread.
Pray for W and Our Troops
Agreed.
I not calling for additional regulations but if they want to play with fire then take the FULL risk of getting burnt. Its the American Way, well at least I thought.
It's just way more complicated than that. We could fix the problem if it were only Fannie and Freddie. However, picture an upside pyramid. The point of the pyramid is Fannie and Freddie. Above that is one giant global pyramid of JUNK. That's right. JUNK. Junk financial instruments. Deregulated financial JUNK. It's an upside down ponze scheme that nobody knows how to fix.
Prepare for some very rough times ahead. Personally, I think we're headed towards a long lasting depression. :(
Yes its the ivy league club they implicitly won’t punish each other and write golden parachutes into each others deals.
letting bad companies fail is the best regulation you can get.
I knew this every time I read an annual report. I voted against every executive and board of directors that ran for re-election. It didn’t help but it made me feel better.
Don’t kid yourself, barbbie fwank would love to be in jain with all those tough MEN.
You are absolutely right.
But the Government is just like Santa Claus. You want a house that you can’t afford, you mismanaged your business and it is failing, ....
Ho Ho Ho.
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