U.S. Bankers Bonuses Accounted for a 5th of the Money Given to Bailout the Banks


	U.S. Bankers Bonuses Accounted for a 5th of the Money Given to Bailout the Banks

lakotahope

7-31-2009 11:57 AM

35 views

tags:

congress allows bonuses

lakotahope says:

This is completely unfathomable to me. Congress is stuck up to their armpits in collusion by allowing this to happen.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c1249e8b-553a-4e9e-ac6f-96f06b1b89ca/09D426E2-477C-4935-967D-BF962414A722/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.dailymail.co.uk/news/worldnews/article-1203430/U-S-banks-paid-32-6-billion-bonuses-government-spent-175-billion-bailing-out.html" href="http://www.dailymail.co.uk/news/worldnews/article-1203430/U-S-banks-paid-32-6-billion-bonuses-government-spent-175-billion-bailing-out.html" style="font-size: 11px;">www.dailymail.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailymail.co.uk/news/worldnews/article-1203430/U-S-banks-paid-32-6-billion-bonuses-government-spent-175-billion-bailing-out.html"><P>Citigroup, Merrill Lynch and seven other American banks banks paid more than $32.6 billion in bonuses in 2008 while receiving $175 billion in taxpayer funds, according to New York Attorney General Andrew Cuomo. <BR /></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailymail.co.uk/news/worldnews/article-1203430/U-S-banks-paid-32-6-billion-bonuses-government-spent-175-billion-bailing-out.html"><P>Crippled Wall Street giant and major City employer Merrill Lynch led the way by paying 14 of its bankers more than $10 million (£6 million) last year despite racking up losses of nearly $28 billion. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailymail.co.uk/news/worldnews/article-1203430/U-S-banks-paid-32-6-billion-bonuses-government-spent-175-billion-bailing-out.html"><P>Some 53 high-flyers at Merrill trousered more than $5 million as it paid a total of $3.6 billion in bonuses to its 59,000 staff worldwide, including thousands in London. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailymail.co.uk/news/worldnews/article-1203430/U-S-banks-paid-32-6-billion-bonuses-government-spent-175-billion-bailing-out.html"><P>The lavish payments, mirrored at banks across Wall Street and the City, came after Merrill lost $27.6 billion last year and was forced into the hands of Bank of America in an emergency takeover to save it from collapse. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailymail.co.uk/news/worldnews/article-1203430/U-S-banks-paid-32-6-billion-bonuses-government-spent-175-billion-bailing-out.html"><P>'Bonuses and overall compensation did not vary significantly as profits diminished.' </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailymail.co.uk/news/worldnews/article-1203430/U-S-banks-paid-32-6-billion-bonuses-government-spent-175-billion-bailing-out.html"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/www.dailymail.co.uk/img/6A7A8C3E-458E-4908-8EC1-B38BCA834ECB" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailymail.co.uk/news/worldnews/article-1203430/U-S-banks-paid-32-6-billion-bonuses-government-spent-175-billion-bailing-out.html"><P class="imageCaption">What the banks received and then paid out in bonuses</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/09D426E2-477C-4935-967D-BF962414A722/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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