$1.6 Billion Went to Bank Execs
Really, isn't that nice? And here, I thought they might have to give up the beachfront homes in Montauk...
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.
The total amount given to nearly 600 executives would cover bailout costs for many of the 116 banks that have so far accepted tax dollars to boost their bottom lines.
Rep. Barney Frank, chairman of the House Financial Services committee and a long-standing critic of executive largesse, said the bonuses tallied by the AP review amount to a bribe ''to get them to do the jobs for which they are well paid in the first place.
''Most of us sign on to do jobs and we do them best we can,'' said Frank, a Massachusetts Democrat. ''We're told that some of the most highly paid people in executive positions are different. They need extra money to be motivated!''
Give us our taxes back you INCOMPETENT, GREEDY MUTHAH FUCKAHS!!!
Nice.
If you make windows and doors, fuck you. Merry Christmas.
"If the US government enforced its banking laws like it did its park regulations, we wouldn't be
in this damn park in the first place." OCCUPY.!!
Who are these bank exectives? The taxpayers of the United States would like to know.
...maybe some enterprising person will publish a list of names and numbers.
"Egotism is the anesthetic that dulls the pain of Stupidity" - Frank Leahy
Are being committed.
What would the Founding Fathers tell us to do?
What are we going to do?
Keep "going along to get along"?
"The US has an army of 90,000 soldiers in Afghanistan and is spending $100bn a year, but has still been unable to defeat 20,000-25,000 Taliban who receive no pay at all." - Patrick Cockburn
bunch of wealthy white slave owners who did not feel like paying taxes would do, and start thinking about what us, common folk in the XXI century, should do in order to protect our interests.
We need to realize that the country we live in is the side effect, not the end result of the founders project. And maybe that is a good thing... let's embrace that, and figure what we need to do, not what a bunch of dead people would have wanted.
I wish a nice case of flu for each of these executives.
Not good enough. Bubonic Plague would be nice. And chronic hemorrhoids.
*
the Spanish Flu was pretty bad ass, probably killed more people than the bubonic plague.
When it comes to bacterial vs. viral, my money is usually on the virus. Antibiotics took the edge off most of the biblical arsenal...
Here I showed where Barney Frank describes Credit Default Swaps as being like life insurance for vampires.
Here WaPo describes Banks issuing Dividends to their shareholders at half the $163 Billion they had received in Bailout Money.
Here Barney Frank describes the Bailout as being to make whole the bank's creditors. The ones who bought the life insurance for the vampires.
The problem here is that the Fat Cats are the vampires, the government is their handlers and the poor taxpayer is being bled dry.
Barney Frank talks a good talk, but he walks arm in arm with the vampires.
The time is coming when the majority of Americans will only be able to afford ONE pitchfork and ONE torch, there will 150 million of them tearing Washington down.
I can dream can't I.
statusquObama, change you can only pretend in
n/t
...we have two pitchforks for the two of us and several tiki torches ...
*
"Barney Frank talks a good talk, but he walks arm in arm with the vampires."
----more kabuki
---------they don't care if we notice or not imo.
Some of us Cannucks might come over to help ya, but don't say I said. :!) We get direct spin-off from all your crap.
"If the US government enforced its banking laws like it did its park regulations, we wouldn't be
in this damn park in the first place." OCCUPY.!!
Where you can f--k up and move up. The worse you do---the more you make. And if you piss away all the shareholders profit---call Hank Paulsen for a blank check no accountability bailout courtesy of the taxpayers.
Unbelievable.
"We will find fulfillment not in the goods that we have, but in the good we can do for each other."
Robert F. Kennedy
How 'bout that Ben Bernake? He'll give a few trillion on the side with no questions asked. And nobody knows that you got that money either because the Fed is not accountable to anyone.
When will this sh*t cease? These greedy bastards continue to feed from the public trough and place new layers of debt on the taxpaying public. It's nothing but a new form of indentured servitude with the financial services industry and their overpaid exectutives grabbing all the dough they can from a corrupt and willing federal government, leaving the average working people to pay off the debt for generations to come.
Look at the bright side: of the two trillion that has been distributed so far, at least we know where 0.08% went.
I'm not sure I want to know what happened to the rest ...
If this isn't class warfare by the rich on the rest of America, I don't know what is. How long will primitive raw capitalism continue to exist in this world? I guess as long as sheep are kept fat and happy by these leeches.
Is it the 21st century yet?
It is absolutely class warfare. It is rapacious, egregious greed.
*
As Warren Buffet says…
There is class warfare, and his class is winning.
statusquObama, change you can only pretend in
This bailout was inevitable. It's the best thing that could have happened. We were being robbed all along, except nobody noticed. At last the banditry is out in the open. The Fed is a private bank; that's the source of the problem. If the Treasury can print a $1 bond, why can they print a $1 bill?
What we need is a 10 million person march on DC. But, no, the moras'll throw us crumbs, fatten us up, so the next generation of vampires can get more blood. We're the lifeblood of the vampires.
That's the reason for our existence, ain't it?
We should nationalize every freaking bank that engaged in this. GET A PAIR Dems!! You're looking like patsy's over this, so MAKE THEM PAY!! OR get every penny back with interest.
The Dems are part of the problem.
If DC fell into the ocean tomorrow - I wouldn't care.
*
This was a hugely unpopular comment I made a couple of years ago (I made it elsewhere), but I think on 9/11 they missed the target.
"If the US government enforced its banking laws like it did its park regulations, we wouldn't be
in this damn park in the first place." OCCUPY.!!
Hah! Depends on who you think did it!
1. Clean out the entire government, except for Obama and Biden. Everyone is guilty and/or incompetent.
2. Can't we just print money and give to everyone that needs it? Not the f**kin bankers and crooks, the citizens who are really struggling.
NOBODY 2012
the fed reserve is NOT part of the goverment, THAY ARE A PRIVATE BANK, WHO OWNS THE GOVERMENT.
Just keep pissing and moaning on line?
Does anyone have a suggestion on how to get our federal house in order other than the pitch forks and so on ideas?
"The US has an army of 90,000 soldiers in Afghanistan and is spending $100bn a year, but has still been unable to defeat 20,000-25,000 Taliban who receive no pay at all." - Patrick Cockburn
A real one.
statusquObama, change you can only pretend in
By the weathiest international financiers?
Not to mention that the computerized voting machines are corporately owned.
How do you elect a socialist government without the media to even allow coverage and the vote not being transparent anyhow?
It just seems to me that we are f'd.
"The US has an army of 90,000 soldiers in Afghanistan and is spending $100bn a year, but has still been unable to defeat 20,000-25,000 Taliban who receive no pay at all." - Patrick Cockburn
Come April 15th all Americans should hold back on filing their taxes. Let them go ahead and arrest all 300 million of us. They'll get the point real fast as the only thing these people understand is the power of money or the lack there of.
What they would do is arrest some people and put it on the news, telling people, if you do not PAY your Taxes, we will arrest you and you will go to prision. they will play it up just like bushs build up to his war. people will cave in.
A peaceful 5-million-person sit-in in D.C. If you can have a Million Man March, why not? Did you see the 60s?
"If the US government enforced its banking laws like it did its park regulations, we wouldn't be
in this damn park in the first place." OCCUPY.!!
Certainly enough will be unemployed to partake. Grow a pair.
"If the US government enforced its banking laws like it did its park regulations, we wouldn't be
in this damn park in the first place." OCCUPY.!!
We need to first stop paying taxes and credit card statements. If these guys are using federal money to pay for bonuses, dividends, and outrageous salaries then they aren't as hard up as they say they are. Second, we need to protest on April 15th. Protest not just in DC since not everyone will be able to afford going there, but protest near local federal offices. The last thing we need is a government that is not bought by the financiers of the world. We need a government for the people and by the people. We need like others have stated a socialist government. We need to look at places like Finland, Norway, and Sweeden and try to emulate their social and economic policies.
These are just a few things...but goddamn if it doesn't look like an impossible task.
The bourgeoise have been at this longer than we have. After WWII union organizers were redbaited out of the unions. The rest of us were bamboozled out of our historical jockstraps. Without the real organizers for working class rights, the union leaders went golfing with Nixon and condoned the Vietnam war. Working men and women built this country. To get backm we're going to have to reorganize. (Note: the day after Blago critisized Bank America, he was attacked. Coincidence? I don't think so. All the politicians have skeletons; but it's when they start doing the right things, that's when the alarm goes off. Spitzer? Same thing.)
We need a 10 million person march on DC to let these vampires know we want real change.
double post, sorry I'm a new poster
Actually it is pretty simple to take back America. All you have to do is vote out the people already in office. I don't care if they have been in office two yrs or 30 yrs vote them out. Then the next election vote out the people already in office and then do it again the third election and congress will learn that the people mean business and will start listening to the people, instead of lobbyist, to keep their jobs. If your congressman doesn't listen to you then vote him out. Also when you think your representative is going to vote for something you disagree with, send him/her an email, a letter or call and tell them they work for you and can be replaced.
about the pay of bank executives, but thought the pay of an average auto worker was too much.
and they look out for foreign companies not their country's. as if they could secede from this nation...oh, wait.
How does the American public get its pockets picked? Just leave it to a do nothing Congress who has the power of oversight and setting the rules of the game as well as the bankers that obviously control Congress.
How much more fucking outrageous does it have to get before those with jobs as well as those without finally say enough of this bullshit? Frank must really have a pair as well as Dodd. We elect people to do the peoples business and then they turn around and allow the farm to be given away anyway while the foxes are guarding the hen house.
The assholes in Congress are responsible for spending the US taxpayers money. The bailout wasn't supposed to be a free for all in the form of bonuses given to these greedy bastards on Wall Street after they knew fool well that they caused this financial mess to begin with. To their way of thinking, this is a piece of cake, a walk in the park as people are so scared about losing their jobs that the people couldn't care less what we do with their money. Well, guess again. Obama can kiss his ass goodby if he allows this to stand. But you know the drill already.....we have to move on for the betterment of the country. Where have I heard that before? Sure, let's just brush everything under rug of history. Meanwhile people are going hungry, jobless and homeless while the fat cats on Wall Street and D.C. attend to their dinner parties while munching on caviar and champaign while the masses chow down on spam and Mountain Dew.
Someone on another thread said it's time for our second revolution. That time has past and hopefully the pendulum is about to swing the other way....Big time!
The bankers were right in getting their bonuses. They are geniuses. They managed to secure the loans against collateral that is absolutely worthless.
They're trying (unsuccessfully) to juggle the old aristocratic, privileged state you were with the new, socialist state you are now, but it doesn't work so well.
"If the US government enforced its banking laws like it did its park regulations, we wouldn't be
in this damn park in the first place." OCCUPY.!!
any prediction on when this free-fall ends??
Once you occupy the Blvds. of D.C.
"If the US government enforced its banking laws like it did its park regulations, we wouldn't be
in this damn park in the first place." OCCUPY.!!
What did you think Homeland Security and all the defenses built in D.C. in the last 7 years are really for?
Grab yer wallet and kick you in the nuts in one swift move. Gotta just love bank execs. Isn't it a crime when somebody robs a bank? Why the double standard?
hate Barney Frank.
They say it's because he's gay, because that earns points with the disinformed public. But it's really because he's disturbing their gravy train.
"How dare he point out the fact that us executives are sinking the economy, fleecing the public and walking away with millions in compensation?"
These are people who'd be lost without having their fucking country clubs to hide in.
good cop, bad cop, kabuki. dems, repubs, media just show time and hands in the till. making sure the rabble doesn't get any, tho. less for them and their bosses.
imo
Sheesh, clearly you libruls don't know anything about capeetulism. They have to pay such ginormous salaries because that's the only way they could get the best people. Seriously, who would work at a bank that you caused to fail unless they were shoveling dumptruck loads of money at you?
Next thing you know you'll be asking all those executives to work part-time so they don't get any heath insurance.
Reds...
(seemingly) indicates lower profit and that signals bad marketing outcomes and possibly lower compensation for those who are deserving/entitled.
THE BIGGEST RIPPOFF IN HISTORY...
WORKERS (UAW): NO competitive (LOWER) salary, NO bailout!!
BANKERS: Whatever! Here's the CASH!!
Must... resist... must not... advocate... violence.... must not....
Wasn't it you that told us, the American public, that we NEEDED this bailout? My God...this man must have no soul. I remember watching you on the Rachel Maddow screaming at the TV because I was so pissed that you wanted this damn bailout. Oh Barney, you are almost as bad as those that you chastise. The whole damn congress, every last one of them, is at fault for this mess.
Obama can't fix this. The Mayan calendar is right - 2012 is the BIG reset.
..think they'll be able to continue living their lives of elitist opulence when the entire global monetary/banking/financial system collapses ?! I was having a good laugh watching the TV last night - CNBC I think - a show about the Madoff robbery and all the "greedy but suddenly poor" millionaires in West Palm Beach have lost everything they had invested with him. What a hoot!
I think this whole bailout thing is just to provide enough cover and time for these bastards who run the world financial cabal, and the other fools who are running our government, to stuff their pockets and disappear a la Ken Lay.
I remember a line from the Man of La Mancha, kind of sums up our predicament: "Whether the stone hits the pitcher, or the pitcher hits the stone; it's the pitcher that suffers."
"Egotism is the anesthetic that dulls the pain of Stupidity" - Frank Leahy
Thank god! I was really starting to worry about our CEO friends. It's not like they are a bunch of "socialist" leeches - like those overpaid and overcompensated auto workers.
The damned middle class is running this country into the ground!
Rush Limbaugh is what a smart person thinks a stupid bigot sounds like.
The Bailout is bullshit. I knew it from Day f**king 1. Use our hard earned money to help out the millionaires and billionaires who need it. This country needs a revolt/revolution/riot.
NOBODY 2012
If everyone waited until May 1 to send the tax returns in you think the a-holes in Washington would have two weeks to wonder WTF ??? The tax return is the best idea ever
With a show of hands, who is surprised by this last insult to the American tax victim?
We're getting fleeced by these scheisters and nothin is happening.
This is OUR FUCKIN MONEY.Why aren't people gettin PISSED?
people are watching to much of the BULLSHIT on TV.people getting fucked over and just standing there? sounds like WWII when the SS just rounded up the jews and just killed them. most of them just stood there, where SOME did fight back. We have how many people in the US, and how many of them will MARCH???????????????
This is a surprise, Shit, I saw this comming a long time ago. That bald bitch said he polled the 700 billion dollare out of his ass. the the congress kissed bushs ass and just gave $345 billion to all of there wallstreet buds with NO accountable. Now that baldheaded bitch wants the rest of the $350 billion to make sure the CEO's have there big money to retire while the rest of us goes down the drink.
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