Wall Street banks in $70bn staff payout
Pay and bonus deals equivalent to 10% of US government bail-out package
* Simon Bowers
* The Guardian,
* Saturday October 18 2008
Financial workers at Wall Street’s top banks are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, […]
We the taxpayers pay for his and others’
Golden Parachutes…
*
REUTERS/Jonathan Ernst (UNITED STATES)
Congress opens hearings on financial meltdown
By JULIE HIRSCHFELD DAVIS, Associated Press Writer 5 minutes ago
WASHINGTON - Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a […]
…as surely as the moon is made of Roquefort cheese.
Still, the Red Sox Curt Schilling may have made more per hour.
*
By Ron Scherer Tue Sep 30, 4:00 AM ET
New York - Lloyd Blankfein, chairman of Goldman Sachs, made $73.7 million last year. James “Jamie” Dimon, chairman of J.P. Morgan Chase, had to make do […]
*
The story and recording are here.
*
Images: (Jonah) princeton.edu; (beck) farm3.static.flickr.com; (weasel) dnr.state.il.us; (electric knife) Cuisinart via toolmonger.com;
that they choose an inopportune time to stand, should surprise no one.
-
Following Brooks’ piece is a comment by Vincenzo Kolchak.
*
September 30, 2008
Op-Ed Columnist
Revolt of the Nihilists
By DAVID BROOKS
In 1933, Franklin Roosevelt inherited an economic crisis. He understood that his first job was to restore confidence, to give people a sense that somebody was in charge, […]
but that apparently is what he did–that and having dinner with Cindy, Tailwagger Joe Lieberman and his wife.
***
***
‘Explaining why McCain never went to Capitol Hill on Friday or Saturday after rushing back to Washington after the debate, top aide Mark Salter explained that McCain “can effectively (story with video) do what he needs to do […]
This piece is from the Hill.com.
Kucinich says not enough votes for bailout
By Kevin Bogardus
Posted: 09/28/08 03:31 PM [ET]
A prominent liberal Democratic lawmaker said Sunday there are not enough votes to pass the bailout package as it stands now.
“I will tell you right now I don’t know if they have votes,” said Rep. Dennis Kucinich (D-Ohio). […]
Sam Stein
McCain Camp Can’t Get Story Straight On Bailout
September 28, 2008 11:26 AM
At the same time that Sen. John McCain was saying that he didn’t deserve credit for getting an economic bailout package to the brink of completion, his campaign’s chief strategist was arguing that the Senator played an integral role.
Appearing on Meet the Press, […]
Fri, Sep 19, 2008 6:28pm ET
Cavuto suggests Congress should have warned that “[l]oaning to minorities and risky folks is a disaster”
Summary: On September 18, Fox News’ Neil Cavuto conflated giving home mortgages to minorities with risky lending practices, suggesting that there should have been “a clarion call that said, ‘Fannie and Freddie are a disaster. […]
Clearly the current economic crisis needs a legislative solution. An executive branch giveaway is not the answer, particularly a giveaway that neither shows little planning nor one that is being shoved down the throats of our legislators and, ultimately, the taxpayers.
In the last few days, we have heard a lot of fine creative ideas from […]
*
AP Photgraph
Slate Magazine
Is John McCain a Crook?
Chris Suellentrop
Posted Friday, Feb. 18, 2000, at 2:35 PM ET
The controversial George W. Bush-sponsored poll in South Carolina mentioned John McCain’s role in the so-called Keating Five scandal, and McCain says his involvement in the scandal “will probably be on my tombstone.” What exactly did McCain do?
In early 1987, […]
New York Times
McCain Aide’s Firm Was Paid by Freddie Mac
By JACKIE CALMES and DAVID D. KIRKPATRICK
Published: September 23, 2008
WASHINGTON — One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month from the end of 2005 through last month to a firm owned by Senator John McCain’s campaign manager, […]
It would almost be better to force each of these Wall Street sharks adopt a mortgage.
*
Wall Street Journal
SEPTEMBER 22, 2008, 2:41 P.M. ET
By DAMIAN PALETTA
WASHINGTON — Senate Democrats want to add tough new measures to the Treasury Department’s proposal to bail out financial firms, including strict limits on executive compensation and a provision that would […]
Last Year’s Big Five Wall Street Bonuses
Jack Tapper, ABCNews
September 22, 2008 7:12 AM
As the Bush Administration asks for close to a trillion dollars to prevent a worldwide financial cataclysm, here are some numbers you might find interesting — courtesy of the ABC News Research Center and ABC News’ Barbara Paulson.
In 2007, Wall Street’s five biggest […]