Bank Execs took home $1.68B from Bailout!!
 

The Great American Money Grab......:disgust

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.:disgust

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

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

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

ummm


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

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 :(

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

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.

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.

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.

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.

:2 cents::(

So tired of this crap

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

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

:mad::mad:

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.

so retarded :mad:

Are you telling us that socialism is inherently corrupt?

I wish that were more unbelievable. Ugh.

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?

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.

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.

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.

:2 cents: