$1.5 Billy in Bail Out Money Went to Hook Up Bank Execs

a1bion · Post by **a1bion** » Mon Dec 22, 2008 9:37 am

Good thing we made those line workers pay! Why the fuck should we be paying for health care for a car worker when we can be putting that money to work, paying for private jets for some jackass who just wrecked the banking system! No wonder we're so fucked up as a country.

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.

Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the AP review of federal securities documents found.

The total amount given to nearly 600 executives would cover bailout costs for many of the 116 banks that have so far accepted tax dollars to boost their bottom lines.

http://news.yahoo.com/s/ap/20081221/ap_on_bi_ge/executive_bailouts

TheTodd · Post by **TheTodd** » Mon Dec 22, 2008 11:44 pm

I really don't understand some of these companies boards that approve these bonuses on such lousy performance. I equate it to a D Lineman that gets a huge salary and signing bonus but sucks all year. I guess the cronyism that exists in the upper echelon is to blame.

annarborgator · Post by **annarborgator** » Tue Dec 23, 2008 2:52 am

Is it wrong that I wish death upon these people? I try and I try, but I have yet to see what the fuck they contribute to the economy. I could lose Fortune 500 companies millions (or billions if I worked hard enough!) of dollars...and I have no training or experience....imagine...I'd actually be a fucking bargain to these oligarchical mopes.

Our whole god damned country is a ponzi scheme. I just pray I get my off-the-grid, self-sufficient homestead built before this place goes up in flames. Once I'm set, burn baby burn. We're past the point of no return, IMO, otherwise I'd try to stem the tide.

a1bion · Post by **a1bion** » Tue Dec 23, 2008 8:57 pm

I really don't understand some of these companies boards that approve these bonuses on such lousy performance. I equate it to a D Lineman that gets a huge salary and signing bonus but sucks all year. I guess the cronyism that exists in the upper echelon is to blame.

Yeah, that's the part I don't get either. I think this is one area where the Japanese have the right idea. Over there, a company blows it and the CEO publicly steps down as a sign that he personally screwed up and dishonored the company. None of this golden parachute stuff.

I've seen the argument made that they need to pay out these huge perks to attract the best people. Guess what? I'll take one of those jobs for less that what some of these characters were making. And I'll bring common sense to the job to boot!

TheTodd · Post by **TheTodd** » Wed Dec 24, 2008 12:58 pm

^^^^

WERD

IHateUGAlyDawgs · Post by **IHateUGAlyDawgs** » Sat Dec 27, 2008 8:48 am

a1 we disagree a lot politically...but not here. Other than I don't think we should be bailing out the line workers in Detroit, either.