$1.6 billion went to bailed-out bank executives

[kuzadd]

Gosh I wonder, how many homeless , jobless , hungry people could have benefitted from this?

Well I am sure these people needed it to keep the mansions , etc up....

Instead...... executive bonus's for jobs well done, LOL!

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.

The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank performance, but still forked over multimillion-dollar executive pay packages.

[GostHacked]

Here is another kick in the balls

http://www.foxnews.com/story/0,2933,470824,00.html

"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,"' said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."

Not wanting to disclose how the money is spent to the public when it is taxpayers money that is being pissed away makes me a very angry man.

But no bank provided even the most basic accounting for the federal money.

"We're choosing not to disclose that," said Kevin Heine, spokesman for Bank of New York Mellon, which received about $3 billion.

--

"We're not providing dollar-in, dollar-out tracking," said Barry Koling, a spokesman for Atlanta, Georgia-based SunTrust Banks Inc., which got $3.5 billion in taxpayer dollars.

--

"We manage our capital in its aggregate," said Regions Financial Corp. spokesman Tim Deighton, who said the Birmingham, Alabama-based company is not tracking how it is spending the $3.5 billion it received as part of the financial bailout.

And there are no check and balances in place to prevent any abuse of the bailout money. That means there is no way to enforce the tracking of the money. WTF ?????? And you wonder why we are in a financial crisis??

[eyeball]

And you wonder why we are in a financial crisis??

No, not at all.

[kuzadd]

Go on, take the money and run

that is what is going on, it is looting from the worker class to pay the rich corporatists.

Quick giv'em another tax cut!

[Oleg Bach]

Governments are installed by rich old white guys in Canada - as in the states.

Governments favour the rich and will do them favours.

When the system peaked and finally failed in collapse the rich appealed to govnerment to help them (bail out)..because now the rich were suddenly poor.

So the rich tell their appointees in governent to send them a cheque - a HUGE one!

Our monetary sytem is a belief system. We must believe that the rich have all the money....a failure in that religiousity by the people would render the top dogs...too bottom feeders instantanously.

So the poor and middle class and lower upper class had their public purse snatched and handed over to those poor babies who feel so damned entitled that even when they are going belly up - they demand that the status quo continue indefinitely...no matter how much is given to the rich - it will turn to sand in their hands. The system is so infected that it will continue to decay and blacken - all the money in the world will not save them..

BEHIND EVERY GREAT FORTUNE IS A GREAT CRIME....so now justice finally prevails for the abuse and degradation of the people - and the usery.

[Shady]

And we can all thank these guys for the lack of oversight and transparency. "The most ethical congress in history."

The house Republicans must feel vindicated.

[Oleg Bach]

And we can all thank these guys for the lack of oversight and transparency. "The most ethical congress in history."

The house Republicans must feel vindicated.

If you suffer from greed and stupidy and lazyness - and arrogance and hold everyone below you in contempt - It's just a matter of time before you fall...bad management is bad management - toss in a bit of trickery ---and capooooosh - down come the house of cards ....and then the snow and cold comes...The powers that be stayed to long at the fair...hate to say it but this virus that is destroying the so-called economic structure might just be devine natural retribution...I used to feel sorry for the poor rich - but in my books - to bad - you had your chance to reform and you did not...sorry - NEXT!

[GostHacked]

And we can all thank these guys for the lack of oversight and transparency. "The most ethical congress in history."

The house Republicans must feel vindicated.

You are always right Shady. It is never the Republican'ts fault. The fact that there is no oversight at all begs the question to both Dems and Reps. OH was it not BUSH who is a Rep approved both bailouts? He must have forced his hand on the Dems to do the Reps bidding.

Vindicated indeed. I blame both parties.

[Oleg Bach]

Both parties are the same party - They are like to huge mafia families that are say developers. One family developes for a few years - makes a fortune - then they take a rest and let the other family have a go at rape and plunder of a naive and trusting nation.

[Shady]

You are always right Shady. It is never the Republican'ts fault. The fact that there is no oversight at all begs the question to both Dems and Reps. OH was it not BUSH who is a Rep approved both bailouts? He must have forced his hand on the Dems to do the Reps bidding.

Vindicated indeed. I blame both parties.

I never said that Republican's weren't to blame as well. President Bush, and Sen. McCain (who could have stood up to the pork he claims to hate) are also complicit. However, it's the Dems that control the house and the senate. They're ultimately responsible for writing this legislation. And they're ultimately responsible for the lack of oversight and transparency. With power comes responsibility.

[kuzadd]

I never said that Republican's weren't to blame as well. President Bush, and Sen. McCain (who could have stood up to the pork he claims to hate) are also complicit. However, it's the Dems that control the house and the senate. They're ultimately responsible for writing this legislation. And they're ultimately responsible for the lack of oversight and transparency. With power comes responsibility.

sorry shady, the way I see the bailout it came from the top itself, Mr. Bush and his bankers and everyone fell in lock step.

No one is more or less to blame, they all share equally

[kuzadd]

Both parties are the same party -

"Both parties are the same party "

for all intents a purposes, I would agree.

same go for the liberals and conservatives in Canada

[Topaz]

Jim, the guy from "Mad Money" said that 700Bil, alot of it went over to Europe, probably in someone Swiss bank account. The whole govt in the US is corrupt. The military had 2.3 BIL missing after Bush and Cheney came into gov't and the Sec of Defence said it would take awhile before we can find it. yeah right!

[Oleg Bach]

Jim, the guy from "Mad Money" said that 700Bil, alot of it went over to Europe, probably in someone Swiss bank account. The whole govt in the US is corrupt. The military had 2.3 BIL missing after Bush and Cheney came into gov't and the Sec of Defence said it would take awhile before we can find it. yeah right!

Cheney and his band of hooligans looted Eron - prior the scandal...ooooooooops...shouldn't have said that....would not want to get all pock marked up when he lets go with the bird pellets...They borrow money to wage war from China and others - and they keep the profits while we pay for eternity - such cold blooded bastards....where the hell did they come from?

[jdobbin]

The house Republicans must feel vindicated.

Those House Republicans were among the reasons the economy is where it is now.

Funny how they have snuck out the back door of the house, ran around to the front to shout "Throw the bums out!"

[Oleg Bach]

Those damned Americans have been sooo mischievious as of late...ripping the head off a dictator they trained - tormenting bearded goat herders in Cuba - and robbing the bank ----what's next....That whole bunch will live high on the hog and in shame - but they have no shame - calling them holigans is like calling Hitler a common trouble maker. Never in my 58 years would I ever have believed I would see the collapse of the American empire - holy shit - the mob took over! We don't realize that organized crime over a generation or so - educate their children and send them to the top of the heap - but they still carry the values of the past gererations -----that trained and conditioned them - what do you expect from America when absolutely every last political personality has intergenerational ties in organized crime - all of the bastards - so why do we empower them with respect - maybe it's time to call a spade a spade...they are a den of snakes...and that is an insult to snakes.

[Shady]

Those House Republicans were among the reasons the economy is where it is now.

I had no idea house Republicans were forcing banks and lenders into mortgages for the poor under the guise of 'affordable housing.' I also had no idea that Republicans were defending the behavior of Freddie Mac and Fannie Mae. And I had no idea former Republicans were running such grand institutions such as Mac and Mae, and City Bank, and Goldman Sachs. Those damn Republicans, always fighting for the poor and disadvantaged!

[jdobbin]

I had no idea house Republicans were forcing banks and lenders into mortgages for the poor under the guise of 'affordable housing.' I also had no idea that Republicans were defending the behavior of Freddie Mac and Fannie Mae. And I had no idea former Republicans were running such grand institutions such as Mac and Mae, and City Bank, and Goldman Sachs. Those damn Republicans, always fighting for the poor and disadvantaged!

Republicans controlled the House, the Senate and the House of Reps and the deregulation occurred under their watch.

It is funny how the Republicans are laying this all out as the Democrats fault.

Edited December 23, 2008 by jdobbin

[Shady]

Republicans controlled the House, the Senate and the House of Reps and the deregulation occurred under their watch.

Please explain this so-called deregulation that occurred under their watch, and how it forced banks and lenders into lowering credit standards, as to give the poor and disadvantaged access to 'affordable housing.'

Those damn Republicans, always bending the rules for the good of the poor!

[punked]

Please explain this so-called deregulation that occurred under their watch, and how it forced banks and lenders into lowering credit standards, as to give the poor and disadvantaged access to 'affordable housing.'

Those damn Republicans, always bending the rules for the good of the poor!

Alan Greenspan.

[bush_cheney2004]

Republicans controlled the House, the Senate and the House of Reps and the deregulation occurred under their watch.

It is funny how the Republicans are laying this all out as the Democrats fault.

Patently false...."deregulation" occurred over many years and administrations....both Republican and Democratic.

Example: Gramm-Leach-Bliley Act of 1999

http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act

[jdobbin]

Those damn Republicans, always bending the rules for the good of the poor!

In your view it was totally the Democrats responsible? 100%? None of the last eight years had anything to do with it?

[punked]

Patently false...."deregulation" occurred over many years and administrations....both Republican and Democratic.

Example: Gramm-Leach-Bliley Act of 1999

http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act

Allan Greenspan

[bush_cheney2004]

Allan Greenspan

That would be Alan Greenspan, Fed Chairman from 1987 through 2006. Deregulation started before 1987.

[Topaz]

I put this website on the business section ,but I'll also put it here www.andrewgrause.com He's into finance and he looks at the Federal Reserve and the people connected to it and how the US got into such a mess.