Comments on: Bailed-out banks ordered to reveal executive compensation

By: charles bent

charles bent — Mon, 03 Nov 2008 04:57:35 +0000

I just l got my insurance bill for my auto policy, AIG just bought 21st century insurance before they got a bailout. I feel like I am getting rippped off twice paying these people more money so they can go out and party at my expense. I do not want to give any money to these *ssholes. But you know , the own the court system and the DMV too. All the law enforcement and state employees pension is tied up to financial derivatives from mortgage based investment. What can be done?

By: WhyCare

WhyCare — Thu, 30 Oct 2008 04:51:54 +0000

More of the same! Once the government owns the banks, the Chinese will demand repayment and all we’ll have to give them .. are the banks. Time to bail.. out of this country.

By: ocobserver

ocobserver — Wed, 29 Oct 2008 23:19:58 +0000

Before they swiped your $700 billion they told you that they were going to use it to buy up the toxic assets from the financial institutions, hold ‘em and eventually turn a profit for the taxpayer. ha-ha. Once they strongarmed your money they merely dished it out willy nilly to the banks of their choice with virtually zero conditions. The banks used it for acquistions, ceo bonuses and to shore up their books! ha-ha. The idea was to unfreeze the liquidity. ha-ha. banks still refuse to loan to one another because no one can be trusted. ha-ha. Meanwhile, foreclosures continue to multiply unabated which will further erode the economy and destroy corporate profits for years to come. Basically, we have entered into an L shaped recession. Don’t know what that is? Google Japan economics 1990. You are flying at 10k feet with no pilot in the cockpit.

By: OC4truth

OC4truth — Wed, 29 Oct 2008 23:19:55 +0000

And some of this could be misleading as well. While the parent co may be either in trouble, or as many of the banks are, not really in trouble but forced to particpate, some of their subsidiaries may be financially sound and not have engaged in the reckless lending that caused problems for the parent.

AIG got a lot of bad press for the big events that were being held to reward independent insurance agents. If they are independent agents, they are not employees and are ones bringing in income to the co.

And now they are pushing them to loan out the money. I wonder is history going to repeat itself with part of what got lenders and the whole economy into this mess when govt pushed them to lend to a broader group of people which sounded good. But the pressure was on so standards were lowered which is a big part of where the sub-prime mess came from. Oh and it was the Dems who pushed that program and who resisted attempts by Bush, McCain and others to introduce some more regulation of Freddie and Fannie. But they were squelched by the Dems including Frank, Dodd and Obama. And yet Obama constantly blames the lack of regulation on Bush!

By: Alan

Alan — Wed, 29 Oct 2008 22:58:33 +0000

Does this include the Banks that were requested behind closed doors to accept bailout funds even through their balance sheets were solid?

“While the program is voluntary, Treasury essentially forced nine major U.S. banks to agree to take $125 billion from the federal government. Treasury will buy $25 billion in preferred stock from Bank of America — including soon-to-be acquired Merrill Lynch — as well as from J.P. Morgan and Citigroup; $25 billion from Wells Fargo & Co.; $10 billion from Goldman Sachs Group Inc. and Morgan Stanley; $3 billion from Bank of New York Mellon; and about $2 billion from State Street. The remainder will be available to small and medium-size institutions that apply for an investment.”
- Wall Street Journal
http://online.wsj.com/article/SB122398468353632299.html

I feel bad for those Banks that manage their assets professionally and now are subject to disclosure. However, are they not already disclosing this to the ones who own the Companies - the Shareholders?

By: Fed up tax payer

Fed up tax payer — Wed, 29 Oct 2008 22:23:50 +0000

These rotten scum sould be shot for treason along with the rotten scum politicans (both Democrat and Republican) who were playing pocket pool while this was going on

I pay almost 50% in taxes
Where is my bailout?

By: Kmoochiee

Kmoochiee — Wed, 29 Oct 2008 22:22:09 +0000

about damn time

By: wes

wes — Wed, 29 Oct 2008 22:00:49 +0000

I’m so happy to hear that these banks are going to be held accountable for their past and present earnings. I know for a fact that the CEO of every bank on this list is shaking in their chair as they read the information regarding pay. Haha. We should start a pool to see which company blows the most money on its worthless management. Maybe a chart showing company earnings vs. CEO earnings would be nice too!
Thanks Mr. Waxman!

By: jh749

jh749 — Wed, 29 Oct 2008 21:54:55 +0000

Is there no limit to the greed and chutzpuh on the part of these criminals? Public monies infused into their banks are meant to prevent their failure and the consequences to the economy, not to reward their egegious actions with end of year bonuses. Do the many employees recently fired have bonuses to look forward to? I believe that the bank executives should be rewarded with orange prison jumpsuits and huge penalties if indeed they are found guilty of speculating and mismanaging their depositor’s hard earned funds.

By: Kin (Anaheim, Ca.)

Kin (Anaheim, Ca.) — Wed, 29 Oct 2008 21:41:49 +0000

The money was given to help balance the BASIC NEEDS of the bank systems and pay for bonuses due !!!!!

Many companies have GONE UNDER since 2006 and people have lost out. Retirement funds have DWINDLED !!!

Give them their base salary and NOTHING ELSE…

FEED the HOMELESS and help the LAID-OFF first.