The New York attorney general has asked nine banks that are getting a piece of the Wall Street bailout to turn over information about how they are spending money on executive bonuses.
Andrew Cuomo said Wednesday that the bailout has essentially made taxpayers shareholders in these companies, and they have a duty to be upfront with the public about huge bonuses.
The request followed an Associated Press report last week that found that the nation's biggest banks are preparing to pay their workers as much as last year or more, including bonuses tied to personal and company performance.
Cuomo's office is among several agencies that are investigating banks about their role in the Wall Street meltdown.
Wall Street has successfully perpetrated the biggest scam on the American people in the history of the World! The bet the wrong way on derivatives and other flaky securities and then got the Bush Administration to cover their losses. Then Executives of these companies through lavish parties, went on hunting trips, and Las Vegas conferences. I'm hoping after President Bush is out of office their will be indictments passed down for everyone!
Unconscionable.
After being given billions of taxpayer dollars to help it climb out of the deep hole it dug us all into, Wall Street's cavalier attitude towards its millions of citizen creditors is incredibly brazen and shameless. It's evident that the financial industry has no conscience about the monumental mess it created; nor does it have a clue about how its let-them-eat-cake attitude towards compensation, bonusses and material excess is perceived by the masses. That a former Goldman Sachs CEO is now the government fox in charge of this plush henhouse gives me no reason to think anything will change.
No wonder Main Street is rapidly becoming skeptical, cynical and restive about the ultimate success of the bailout bill -- er, sorry, rescue package -- and the restoration of economic normalcy. Our money appears to be going towards the purchase and takeover of distressed institutions by the major players, and thus line the already fat pockets of their executives and minions, rather than being used to grease the wheels of credit and commerce to get things moving again.
Will the new Congress and President we're electing have the courage to press for swift justice for the corrks, with criminal indictments, look-back forfitures of million-dollar pay days and time served in honest-to-God prisons? Please vote for those individuals whom you think, hope and pray have the cojones to take such action. Then pray some more that we might live to see our massive loan paid back with interest.
I believe there are about 9 institutions receiving the bail-out sofar.Their CEO's must be removed SOONER or LATER.Rewarding incompete idiots and allowing them to remain on the job will not 'go' with the public.Reagan,the republican guru,fostered 'trickle down economics.'Now economists are saying that we should apply financial effort at the bottom.I AGREE!Many businessmen say that they will be unable to create jobs without all the 'handouts?'I Disagree vehemently.Placing resources at the bottom WILL SPUR new entrepreneurs who will succeed.They have a vision for America based on honesty and hard work.The current 'breed' of "entrepreneurs" only have a vision of G-R-E-E-D.We are are seeing the results of the 21st century 'robber-barons.'
Please all these people who have made millions/ billions should be held accountacble for bailing out the messes they left behind. And to even think about bonuses that will really come from the tax payers, WAKE UP AMERICANS, We the people need to get off our lazy butts and demand accountability and start demanding reform!! Start with the election and campain reform. I think this is how the French revolutionists must have felt!
I couldn't have said it any better.Revolutions have occurred in Europe for less reasons.
You're in Easy Mode. If you prefer, you can use XHTML Mode instead. |