Bank Bonuses

[Ratickle]

"$1.6 billion went to bailed-out bank execs
Records show bonuses, chauffeurs, health club benefits, financial planning"

The Associated Press
updated 2:03 p.m. ET, Sun., Dec. 21, 2008

"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."

Makes you want to puke. And our congress won't do a damn thing about it because most of them are on the take from these guys.:cuss:

http://www.msnbc.msn.com/id/28337800?GT1=43001

[Audiofn]

Are you really supprised?

[phragle]

you thought the waste of taxpayer bailout money ended with AIG corporate retreats?? I got some property in florida to sell you too.....

[Wrinkleface]

:(:willy_nilly:

[inbetween]

I got an idea...

Let's give billions of dollars to the automakers and see what they do with it :cuss:

[phragle]

just wait..

Obama
Bailout
And
Money
Allocation

it's comming to a country near you.

[Ratickle]

just wait..

Obama
Bailout
And
Money
Allocation

it's comming to a country near you.

I think I'll just go stand in line.

[inbetween]

I think I'll just go stand in line.

HEY...no cuts

[phragle]

the american dream, a handout in every hand.

[clayinaustin]

"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.

I think that "last year" refers to 2007. Everyone was doing great 12 months ago. remember?

[clayinaustin]

just wait..

Obama
Bailout
And
Money
Allocation

it's comming to a country near you.

I'm no fan of Obama, but Bush and the Democratic Congress are doing all of this "bailout" right now. Obama has to wait another four weeks before he officially gets the reins of power!

[Sea-Dated]

Are you really supprised?

Not at all....:smash:

[Davidmnc]

the american dream, a handout in every hand.

I have two hands!!!!!!!!!! Two hand outs!!! :party:

[Ted]

I'm no fan of Obama, but Bush and the Democratic Congress are doing all of this "bailout" right now. Obama has to wait another four weeks before he officially gets the reins of power!

That's when the money spigot will really open up. :seeya:

[Davidmnc]

That's when the money spigot will really open up. :seeya:

Yea, and every one will buy a new RV!!! :26:

[Tommy Gun]

Now this is sad...

http://www.youtube.com/watch?v=qDC0qcf0kzE

[Sea-Dated]

Yea, and every one will buy a new RV!!! :26:

You keep telling yourself that.

Even if they do, you will be forced to sell them at 50% of cost.:boxing_smiley:

[Davidmnc]

You keep telling yourself that.

Even if they do, you will be forced to sell them at 50% of cost.:boxing_smiley:

God I hope not! :leaving:

[MarylandMark]

Democratic Congress are doing all of this "bailout" right now.

and why we've been screwed the last 2 years in general.

Thanks Nancy!

[Heavyhauler]

Redistributionn of wealth means that they are taking our money and giving it to the bankers and other top execs who lost theirs. We belong to a pecking order.

[Tommy Gun]

Life is like a sh!t sandwich...the more bread you make, the less sh!t you eat.

[Ted]

Yep free grants for Republicans. That's what the financial bailout was all about. Not only that, THEY DON'T HAVE TO TELL CONGRESS WHERE THE MONEY HAS GONE...AND THEY HAVEN'T. And they won't. The executives are still getting their fatcat bonuses and flying around in their private jets.

Now, the Southern Senators-McConnell of Kentucky, Corker of Tennessee, Shelby and Sessions of Alabama-are trying to scuttle the Big 3 bailout because the UAW will not agree to any more concessions on pensions and benefits, which they have already cut twice. Why? Because they have nonunion foreign carmakers they have given welfare(read tax cut) checks to. Those economic traitors put their campaign contributors before the interests of 3,000,000 people who are connected to the Big 3 for their jobs.

Oh BTW, Big 3 wages are BELOW Toyota and the rest of the foreign carmakers. And tell me, which of the Big 3 can even SELL their cars in Japan and China, much less have a plant to make them there.

Cat, are you one of the 54% of Obambi voters that doesn't know who controls Congress??? Nancy and Harry's signature is on those bailout checks and you need to deal with it. It is your guy's mess and those of us that pay taxes will have to pay for it. (I know you're not worried about that) And as for your UAW falacy-they blew this deal because they would not agree to bring wages into line with BMW, Toyota, etc. until 2010 or later, well guess what, the problem is NOW, so they need to move to those levels NOW. If your falacy is correct, then they would all get a raise, let's do it NOW.

Please get your facts straight, pull your nose out of Kos' butt for once.

[Ratickle]

Nancy and Harry's signature is on those bailout checks and you need to deal with it.

And as for your UAW falacy-they blew this deal because they would not agree to bring wages into line with BMW, Toyota, etc. until 2010 or later, well guess what, the problem is NOW, so they need to move to those levels NOW.

If your falacy is correct, then they would all get a raise, let's do it NOW.


That is one of the things that gets me.
"It's their fault, they want us to take more pay cuts. It's their fault, they want us to make the same as Toyota and Nissan implant plants. It's not our fault, Toyota makes more than us now." HUH???:huh:

[clayinaustin]

Please get your facts straight, pull your nose out of Kos' butt for once.

Give it up, Ted. Cat and the Liberals will soon control both the Congress and the White House, and they are gonna STILL be blaming Bush for the next four years! :rolleyes:

I am no fan of W. In fact he may have been one of our worst presidents! But, the Democratic Congress has to take some of the blame for the last two years.

Just my jaded two-cents... :mad:

[GregP]

There is plenty of blame for the sloppy way the bailout is being handled for both parties in congress, but the still current adminstration/Republican party (the last 8 year version, not the clasical once was a fiscally conservative party that ceased to exist long ago) have been the pro big greed advocates and have to take most of the blame for the attitude and lax controls that encouraged and allowed things to get so bad. Paulson (he works for Bush) gets the major share of blame for giving the money to his friends with no requirements or oversight.

As for the financial company employees (remember it is the employees at fault, not some impersonal "company"), we either declare open season or tell them they have to sign up for retroactive changes and restrictions or give all the money back right now (I'd actually go for making the employees pay back their last 5 years of un-earned compensation).

It's time for the companies to start returning the profits to the owners/investors, not the execs thinking it is their personal money tree (exec compensation over the last years has grown at a rate 10 times the average company employee's salary). A start on that path should be something like:

A salary cap on all employees, including the exec mgmt and BOD, of all publically traded/owned companies of 200k. Start in 2009 for companies not taking bailout funds, retroactive to 2008 for companies taking bailouts.

All extra compensation (comissions, bonuses, IC's, severance packages, options) changed to an after-tax charges against profit. If they don't book a profit, there are no bonuses, commisions, severange packages.

Clearly list the "extra compensation" they pay themselves as a lost dividend in their financial reporting so it is obvious to the owners/stock holders just how much of their money they are giving to themselves.

I won't get into my list of new regulations for the stock markets or un-merging all the "too big to fail" companies back into smaller "let them fail" ones.

-g

[Offshoredrillin]

The UAW has a two-tier wage system; $15 for new hires and $25-$27 top rate. These wages are BELOW the foreign automakers. So if it's not the wages that are responsible for the disparity in the cost of vehicles, what is it? It's the costs of pensions and benefits, particularly health insurance benefits. Japan and Germany have national health care, paid for by their federal and local governments. We do not. We need single payer health care(among other reasons) so our automakers can be competitive with foreign automakers.
that makes zero sense everett. All union jobs have pay scales. So you want these people to work 30 years for a company and not save a dime just to be taken over by the government once they reach your age? What happened to a little fiscal responsibility of the employee. If someone cant take enough time to plan for their future while making alot more than you say they are, they will look fine pushing a shopping cart, and I will wave to them as I pass in my gas burning dually and my boat. The only person responsible for making sure my life is planned is me. Should be the same for you, a persons poor choicees in life shouldnt burden the rest of the country.

[Offshoredrillin]

It's time for the companies to start returning the profits to the owners/investors, not the execs thinking it is their personal money tree (exec compensation over the last years has grown at a rate 10 times the average company employee's salary). A start on that path should be something like:

A salary cap on all employees, including the exec mgmt and BOD, of all publically traded/owned companies of 200k. Start in 2009 for companies not taking bailout funds, retroactive to 2008 for companies taking bailouts.

All extra compensation (comissions, bonuses, IC's, severance packages, options) changed to an after-tax charges against profit. If they don't book a profit, there are no bonuses, commisions, severange packages.

Clearly list the "extra compensation" they pay themselves as a lost dividend in their financial reporting so it is obvious to the owners/stock holders just how much of their money they are giving to themselves.

I won't get into my list of new regulations for the stock markets or un-merging all the "too big to fail" companies back into smaller "let them fail" ones.

-g

these are the parts I agree with, why should we support the people that own chrysler, they are hedge fund investors and refuse to dump any more money in it. I own a jeep, let them go bankrupt, they deserve it, no reason for us to bail them out. then attach their profits from other investments to pay for the bankruptcy. Bet they would change their tune then. ESPECIALLY their oil profits.