Wall Street’s $18.4 Billion Bonus


	Wall Street’s $18.4 Billion Bonus

DomainPawnshop

3-10-2009 11:46 PM

61 views

DomainPawnshop says:

This is sick - what am I doing wasting time with domain names? Hey, wanna by a credit default swap? What is it, you say? Well it’s whatever I say it is! They’re not regulated so whatever, right?

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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/72ff989c-d763-4934-a569-88773ab897ef/A66F1C07-9A7D-4877-A741-0CE3B98A3751/" 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.vanityfair.com/politics/features/2009/03/wall-street-bonuses200903" href="http://www.vanityfair.com/politics/features/2009/03/wall-street-bonuses200903" style="font-size: 11px;">www.vanityfair.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.vanityfair.com/politics/features/2009/03/wall-street-bonuses200903">Only a year before, Wall Street’s financial firms had paid out $33.2 billion in bonuses—down a mere rounding error from the $33.9 billion bestowed in 2006—even as the credit crisis spread and $74 billion in shareholders’ equity went poof. But now one firm after another had teetered or collapsed. And Treasury Secretary Henry Paulson had stridden to the podium for his Al Haig moment, inflicting upon already hard-hit 401(k)-holding Americans the unfortunate acronym <SPAN class="sc">tarp</SPAN> (Troubled Assets Relief Program), and through it propping up nine large banks with $125 billion in federal bailout money. Paulson had taken the Cabinet post, in July 2006, with only the noblest of motives, but in hindsight, the move had been fortuitous; the former Goldman Sachs C.E.O. had been forced to sell his Goldman Sachs stock, then worth almost $500 million, at pretty close to its market peak. </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/A66F1C07-9A7D-4877-A741-0CE3B98A3751/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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