Bank Executives Receive Pay Deals Worth $70bn


	Bank Executives Receive Pay Deals Worth $70bn

Kauaiguy

10-24-2008 7:35 PM

165 views

tags:

money, wall street, bailout, government, crime

Kauaiguy says:

Dear Wall Street: Hank Paulson effectively set your 2008 bonus to zero when he offered you government money you couldn’t refuse. Sure, you could go ahead and pay yourself $5 million, but that is spare change in your world and hardly worth five years of various Senate and House committee subpoenas.

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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/efe91c5f-5a87-4a47-a18b-886b356ac526/3C9AAB75-E68C-4B0E-B7B0-437943750333/" 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.guardian.co.uk/business/2008/oct/17/executivesalaries-banking" href="http://www.guardian.co.uk/business/2008/oct/17/executivesalaries-banking" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/oct/17/executivesalaries-banking"><H1>Wall Street banks in $70bn staff payout</H1></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.guardian.co.uk/business/2008/oct/17/executivesalaries-banking"><H2 id="stand-first">Pay and bonus deals equivalent to 10% of US government bail-out package</H2></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.guardian.co.uk/business/2008/oct/17/executivesalaries-banking"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.guardian.co.uk/img/7B186F82-A339-48EC-9186-08D701108567" alt="Wall Street demonstrators" /></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.guardian.co.uk/business/2008/oct/17/executivesalaries-banking"><P>Financial workers at Wall Street's top <A href="http://www.guardian.co.uk/business/banking" linkindex="28">banks</A> are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, for their work so far this year - despite plunging the global financial system into its <A href="http://www.guardian.co.uk/business/useconomy" linkindex="29">worst crisis</A> since the 1929 stock market crash, the Guardian has learned.</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/3C9AAB75-E68C-4B0E-B7B0-437943750333/blog/" title="blog or email this clip"><img src="http://content6.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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