Bank Execs took home $1.68B from Bailout!! - GoFuckYourself.com

Redrob · 12-22-2008, 08:31 AM

The Great American Money Grab......

According to this mornings newspaper:

AP study finds $1.6B went to bailed-out bank execs
By FRANK BASS and RITA BEAMISH

Associated Press Writers

Banks that have their hands out in Washington this year were handing out multimillion-dollar rewards to their executives last year.

The 116 banks that so far have received taxpayer dollars to boost them through the economic crisis gave their top tier of executives nearly $1.6 billion in salaries, bonuses and other benefits in 2007, an Associated Press analysis found.

That amount, spread among the 600 highest paid bank executives, would cover the bailout money given to 53 of the banks that have shared the $188 billion that Washington has doled out in rescue packages so far.

http://www.statesman.com/news/conten..._Bailouts.html

96ukssob · 12-22-2008, 08:35 AM

Honestly, im surprised it was a lot more.

Either way this kinda thing pisses me off. There are a lot of people out there that could really use the money they are paying in taxes for other things in life, like food or house payment, but instead it goes to these big wigs who really dont need 1.6mm a year salary, considering they suck at their job of making a bank work

Shagbunny · 12-22-2008, 08:38 AM

That was last year, before the bailout. Still, stupid.

crockett · 12-22-2008, 08:41 AM

ummm

Quote:

Banks that have their hands out in Washington this year were handing out multimillion-dollar rewards to their executives last year.

The 116 banks that so far have received taxpayer dollars to boost them through the economic crisis gave their top tier of executives nearly $1.6 billion in salaries, bonuses and other benefits in 2007, an Associated Press analysis found.

While it is stupid it's nothing new and it wasn't from the bail out money they recived this year.

Domain Diva · 12-22-2008, 08:41 AM

I saw that story on the news this morning and thier excuse was "We had to pay out these huge bonus amounts to retain staff or they would go work for our competitors "

Its seems to me a circle with each wanting to outdo each other ,l think they forget they are all actually bankrupt

Iron Fist · 12-22-2008, 08:43 AM

Work for the competition? What competition? They all pull from the same pool.

GT-Omar · 12-22-2008, 08:45 AM

In my heart of hearts. I truly hope this bail out really works, but the logical side of me tells me we haven't seen the bottom hit just yet either.

bronco67 · 12-22-2008, 08:59 AM

These guys live in another world, breathing rarefied air. We can't even begin to imagine the depth of their sense of self-importance and entitlement. I'm not even kidding when I say this...they need to be shot.

Darkland · 12-22-2008, 09:41 AM

Man... People's reading comprehension skills suck! No wonder the rest of the world thinks the US is filled with a bunch of idiots. No where in that article does it say they took that money from the bailout, unless there was a bailout in 2007 no one heard about.

At any rate, AIG proved to the country what some of these banks were going to do with the bailout money. I think it is funny how we were so quick to shore up these crooked banks as fast as we could but when the auto industry, an economic stimulus, needed some help they were shut out. Talk about ass backwards, but what can you expect from the US these day.

pornguy · 12-22-2008, 09:47 AM

Quote:

Originally Posted by Darkland

Man... People's reading comprehension skills suck! No wonder the rest of the world thinks the US is filled with a bunch of idiots. No where in that article does it say they took that money from the bailout, unless there was a bailout in 2007 no one heard about.

At any rate, AIG proved to the country what some of these banks were going to do with the bailout money. I think it is funny how we were so quick to shore up these crooked banks as fast as we could but when the auto industry, an economic stimulus, needed some help they were shut out. Talk about ass backwards, but what can you expect from the US these day.

Its not the point that the bail out money was used in 2007. The point is they PIAD OUT THAT KIND OF MONEY to execs that were driving the banks into the ground and causing the NEED for the bail out.

Darkland · 12-22-2008, 10:00 AM

Quote:

Originally Posted by pornguy

Its not the point that the bail out money was used in 2007. The point is they PIAD OUT THAT KIND OF MONEY to execs that were driving the banks into the ground and causing the NEED for the bail out.

I am well aware of the point of the "article", I was questioning the point of the "poster" and the "thread title"

And it isn't really the money they paid their exec's that caused this financial hole we are in right now. I have seen your posts and know you are smarter than that.

The SHADY LOAN PRACTICES was what drove these banks into the ground. 116 banks handing out a mere 1.6 billion in salaries, bonuses and benefits is what caused this collapse? Highly unlikely, but it does point out their greed nicely.

scuba steve · 12-22-2008, 10:08 AM

Quote:

Originally Posted by Redrob

The Great American Money Grab......

According to this mornings newspaper:

AP study finds $1.6B went to bailed-out bank execs
By FRANK BASS and RITA BEAMISH

Associated Press Writers

Banks that have their hands out in Washington this year were handing out multimillion-dollar rewards to their executives last year.

The 116 banks that so far have received taxpayer dollars to boost them through the economic crisis gave their top tier of executives nearly $1.6 billion in salaries, bonuses and other benefits in 2007, an Associated Press analysis found.

That amount, spread among the 600 highest paid bank executives, would cover the bailout money given to 53 of the banks that have shared the $188 billion that Washington has doled out in rescue packages so far.

http://www.statesman.com/news/conten..._Bailouts.html

Kudles · 12-22-2008, 03:58 PM

So tired of this crap

tony286 · 12-22-2008, 03:59 PM

here this can piss everyone off in realtime
http://finance.yahoo.com/news/Whered...-13889514.html

skrinkladoo · 12-22-2008, 04:16 PM

I bet that kind of money can buy a really nice xmas tree and just about any gift you could ever want.

tiger · 12-22-2008, 04:32 PM

Quote:

Originally Posted by tony404

here this can piss everyone off in realtime
http://finance.yahoo.com/news/Whered...-13889514.html

dav3 · 12-22-2008, 04:37 PM

Quote:

Originally Posted by Darkland

I think it is funny how we were so quick to shore up these crooked banks as fast as we could but when the auto industry, an economic stimulus, needed some help they were shut out. Talk about ass backwards, but what can you expect from the US these day.

So if the auto companies get a bailout, who will buy their cars? No one. They were given their government hand-out in the 90's to start building electric cars and they blew it on hummers and dumb shit, so fuck 'em.

StuartD · 12-22-2008, 04:37 PM

Quote:

Originally Posted by tony404

here this can piss everyone off in realtime
http://finance.yahoo.com/news/Whered...-13889514.html

so retarded

DaddyHalbucks · 12-22-2008, 04:45 PM

Are you telling us that socialism is inherently corrupt?

AmeliaG · 12-22-2008, 04:49 PM

Quote:

Originally Posted by tony404

here this can piss everyone off in realtime
http://finance.yahoo.com/news/Whered...-13889514.html

I wish that were more unbelievable. Ugh.

StuartD · 12-22-2008, 04:51 PM

Quote:

Originally Posted by DaddyHalbucks

Are you telling us that socialism is inherently corrupt?

Or that Bush and his incentives are? Or that the greedy bastards at the top that are in bed with the top politicians are willing to rip off the average Americans?
Any other ways you'd like to spin this today?

onwebcam · 12-22-2008, 04:56 PM

Quote:

Originally Posted by tony404

here this can piss everyone off in realtime
http://finance.yahoo.com/news/Whered...-13889514.html

That's just the number they give the general public. The real figure is at last count $8.5 trillion. Only half of that has been dispersed and no real accounting for anything but the talked about 350 billion.

tony286 · 12-22-2008, 04:58 PM

jim cramer was talking about what bullshit this all is and how they were beating up the union guys about what they make. when two guys at goldman sachs made more than the whole line at gm combined.this was hank and w's goodbye gift to the financial industry.

onwebcam · 12-22-2008, 05:10 PM

Quote:

Originally Posted by tony404

jim cramer was talking about what bullshit this all is and how they were beating up the union guys about what they make. when two guys at goldman sachs made more than the whole line at gm combined.this was hank and w's goodbye gift to the financial industry.

Actually it's a goodbye middle finger to the US.

Darkland · 12-22-2008, 08:00 PM

Quote:

Originally Posted by dav3

So if the auto companies get a bailout, who will buy their cars? No one. They were given their government hand-out in the 90's to start building electric cars and they blew it on hummers and dumb shit, so fuck 'em.

They deserve it more than the bankers, that is for sure. Banks go under all the time, whole sections of an industry do not. Also I would like to see a link on that too. As far as I remember the only one that got anything in the 80's was Chrysler and it WAS A LOAN and it was paid back in full.

I actually hope it does... As a matter of fact I hope every shitty thing that can happen to us and the economy DOES happen. Just to show how out of touch the american public is about the things going on around them. Most americans can see no further than the shirt the sheep in front of them is wearing.

12-22-2008, 08:31 AM	#1
Redrob Confirmed User Industry Role: Join Date: Oct 2004 Location: In a refrigerator box by the tracks. Posts: 4,790	Bank Execs took home $1.68B from Bailout!! The Great American Money Grab...... According to this mornings newspaper: AP study finds $1.6B went to bailed-out bank execs By FRANK BASS and RITA BEAMISH Associated Press Writers Banks that have their hands out in Washington this year were handing out multimillion-dollar rewards to their executives last year. The 116 banks that so far have received taxpayer dollars to boost them through the economic crisis gave their top tier of executives nearly $1.6 billion in salaries, bonuses and other benefits in 2007, an Associated Press analysis found. That amount, spread among the 600 highest paid bank executives, would cover the bailout money given to 53 of the banks that have shared the $188 billion that Washington has doled out in rescue packages so far. http://www.statesman.com/news/conten..._Bailouts.html

12-22-2008, 08:35 AM	#2
96ukssob So Fucking Banananananas Industry Role: Join Date: Mar 2003 Location: If I was in your ass you'd know it Posts: 12,991	Honestly, im surprised it was a lot more. Either way this kinda thing pisses me off. There are a lot of people out there that could really use the money they are paying in taxes for other things in life, like food or house payment, but instead it goes to these big wigs who really dont need 1.6mm a year salary, considering they suck at their job of making a bank work __________________ Email: Clicky on Me

12-22-2008, 08:41 AM	#5
Domain Diva Too lazy to set a custom title Industry Role: Join Date: Oct 2007 Location: UK/USA/Canada ICQ : 494318698 Email:[email protected] Posts: 10,180	I saw that story on the news this morning and thier excuse was "We had to pay out these huge bonus amounts to retain staff or they would go work for our competitors " Its seems to me a circle with each wanting to outdo each other ,l think they forget they are all actually bankrupt __________________ Cams-Tube-Dating Domains Available At Trade Prices ! Domains For Sale ICQ:494318698

12-22-2008, 08:43 AM	#6
Iron Fist Too lazy to set a custom title Join Date: Dec 2006 Posts: 23,400	Work for the competition? What competition? They all pull from the same pool. __________________ i like waffles

12-22-2008, 08:45 AM	#7
GT-Omar DM at Performive.com Industry Role: Join Date: Aug 2006 Location: Atlanta, G.A. Posts: 2,968	In my heart of hearts. I truly hope this bail out really works, but the logical side of me tells me we haven't seen the bottom hit just yet either. __________________ Email me Skype me

12-22-2008, 08:38 AM	#3
Shagbunny Confirmed User Industry Role: Join Date: Oct 2007 Location: wut Posts: 3,028	That was last year, before the bailout. Still, stupid.

12-22-2008, 08:59 AM	#8
bronco67 Too lazy to set a custom title Join Date: Dec 2006 Posts: 29,032	These guys live in another world, breathing rarefied air. We can't even begin to imagine the depth of their sense of self-importance and entitlement. I'm not even kidding when I say this...they need to be shot. __________________

12-22-2008, 09:41 AM	#9
Darkland Confirmed User Join Date: May 2002 Posts: 1,488	Man... People's reading comprehension skills suck! No wonder the rest of the world thinks the US is filled with a bunch of idiots. No where in that article does it say they took that money from the bailout, unless there was a bailout in 2007 no one heard about. At any rate, AIG proved to the country what some of these banks were going to do with the bailout money. I think it is funny how we were so quick to shore up these crooked banks as fast as we could but when the auto industry, an economic stimulus, needed some help they were shut out. Talk about ass backwards, but what can you expect from the US these day. __________________ "The towers are gone now, reduced to bloody rubble, along with all hopes for Peace in Our Time, in the United States or any other country. Make no mistake about it: We are At War now -- with somebody -- and we will stay At War with that mysterious Enemy for the rest of our lives." H.S.T. 09/12/01

12-22-2008, 03:58 PM	#13
Kudles Confirmed User Join Date: Feb 2003 Location: Here There and Everywhere Posts: 5,477	So tired of this crap __________________ Free to Play MMOs and MMORPGs

12-22-2008, 03:59 PM	#14
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	here this can piss everyone off in realtime http://finance.yahoo.com/news/Whered...-13889514.html

12-22-2008, 04:16 PM	#15
skrinkladoo Confirmed User Join Date: Oct 2007 Location: South Florida - "Fuck Bitches and Fight Crime - It's all we do! Posts: 629	I bet that kind of money can buy a really nice xmas tree and just about any gift you could ever want. __________________ * Andrew Love * Services: (1) Web Design, (2) Graphic Design, (3) E-commerce, (4) Database Development, (5) Web Analytics, (6) Targeted Lead Generation, (7) Marketing and Consulting Mainstream: Successful Website Landing Page Design \| ICQ: 360-83-9627

12-22-2008, 04:45 PM	#19
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Are you telling us that socialism is inherently corrupt? __________________ Boner Money

12-22-2008, 04:58 PM	#23
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	jim cramer was talking about what bullshit this all is and how they were beating up the union guys about what they make. when two guys at goldman sachs made more than the whole line at gm combined.this was hank and w's goodbye gift to the financial industry.