This is pure greed and corruption. I am so against this bail out!

Don'tLikeStinkingThinking · 10-01-2008, 12:20 PM

The best temp gig in history
Posted Sep 30 2008, 12:47 PM by Kim Peterson Rating: Filed under: Kim Peterson, JPMorgan, Washington Mutual

Congress wants to crack down on CEO mega-salaries for banks participating in the bailout. And while the politicians argue how best to do that, Alan Fishman of Washington Mutual is headed for the doors with $19 million in his pocket.

If that wasn't outrageous enough, consider this: Fishman started the job three weeks ago. I never saw the employment ad Fishman answered, but it must have read something like this:

WANTED: Top executive for train-wreck bank about to be seized by federal regulators. Must be able to look busy while FDIC sells business from under you. Previous experience with angry shareholders sitting on worthless stock a plus. Perks: $7.5 million hiring bonus and $11.6 million cash severance.

Fishman got the best temp gig in history. Read More...

Top Stocks Blog - MSN Money

Forget me, who I am, whether you dislike my presence on the Roo, but think of yourselves, your family, your children and our futures...Call your congresspersons NOW, PLEASE!

AutumnRain · 10-01-2008, 01:10 PM

truth be told I am sick fed up of hearing about it... thanks to the mess of the USA's finance world we are feeling the lash of it here.. sort it.. sort it fast.. dont give a hoot how its done but I wont pay cos someone else is messing up AGAIN

Don'tLikeStinkingThinking · 10-01-2008, 02:23 PM

Autumn,

I don't like hearing of it either, but if I don't post, if I don't research, if I don't read I will be part of the problem and not part of the solution.

I do believe citizens can make a difference, in fact I know citizens can. I saw what you reported about your local involvement and personally I contribute to my local community in many ways. However, this is a global thing, yes the shit happened here in the States and we here in the states need to deal with it. The only way I see the citizens dealing with it, is to first know of the problem and the problem has yet to be narrowly defined and we are all just taking bits and pieces of information to try to understand how and who got us in this mess.

The Government owes us and if we don't demand they do right by us, we will be paying out our arses for generations to come!

Regards,

James

sunburstlespaulhero1989 · 10-01-2008, 02:30 PM

I was debating this lastnight with my mother's boyfriend. When I spoke to him about this, he gave me a long list of what execs were getting...... well, take it from me...... it was really long and I am sure the totals were through the roof.

I don't know how many times I have to say this, well it is getting a bit annoying " I shouldn't have to pay a f-king penny for these people's mistakes". What happens when I do a stupid financial decision? I suffer because I made a mistake. It isn't anyone else's fault other than my own.......

indianajoe · 10-03-2008, 01:58 AM

Can the bailout work? Fat chance - MSN Money

indianajoe · 10-08-2008, 08:11 AM

AIG bailout means facials, pedicures - Top Stocks Blog - MSN Money

AIG bailout means facials, pedicures
Posted Oct 07 2008, 02:42 PM by Kim Peterson Rating: Filed under: Kim Peterson, economy, AIG

First off, I apologize if this post makes you throw up. Got a trash can handy? Here we go....

Remember that $85 billion government bailout of insurance company AIG? Surely executives there must be under the gun, working all hours to dig the company out of trouble. Our taxpayer dollars demand that, right?

Nope. Less than a week after getting the $85 billion commitment, AIG execs went on a week-long retreat at the luxurious St. Regis Resort in Monarch Beach, Calif. The trip cost AIG almost half a million dollars, including $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.

Sometimes, after you've worked hard at running a company into the ground, only a pedicure will do. Oh, and a stiff drink. The tab also included $25,000 in "leisure dining," also known as drinking in bars.

Documents uncovering the AIG vacation came out today during a hearing on Capitol Hill.

"If a company is drowning and you're going to spend that kind of money, that's crazy," said one Congressman during the hearing. "The American people are paying for that."

"This unbridled greed," said another. "It's an insensitivity to how people are spending our dollars."

AIG has some explaining to do. But for some reason Congress didn't get any current executives to show up.

The only defense -- a laughable one at that -- came from Eric Dinallo, head of New York State's insurance department.

The worst thing that could have happened after the bailout was for AIG employees to flee the company, Dinallo said. "There was a thinking that they needed to bring everyone together," he said, according to Dealbreaker. "This was not a crazy corporate decision."

There you have it. Bailout be damned; the Wall Street mentality has not changed.

sybarite · 10-08-2008, 09:36 AM

Quote:

Originally Posted by Don'tLikeStinkingThinking

The Government owes us and if we don't demand they do right by us, we will be paying out our arses for generations to come!

Regards,

James

Too bad the government doesn't see it that way. They feel the taxpayers owe them for all of their worthless pork barrel projects, screw ups, and bailouts. We are nothing but a giant piggy bank to dip into whenever it suits them. The government is supposed to be accountable to the people but unfortunately they have too much power to be bothered with the peon's complaints or opinions. Absolute power corrupts absolutely.

sybarite · 10-08-2008, 10:00 AM

Quote:

Originally Posted by sunburstlespaulhero1989

I was debating this lastnight with my mother's boyfriend. When I spoke to him about this, he gave me a long list of what execs were getting...... well, take it from me...... it was really long and I am sure the totals were through the roof.

I don't know how many times I have to say this, well it is getting a bit annoying " I shouldn't have to pay a f-king penny for these people's mistakes". What happens when I do a stupid financial decision? I suffer because I made a mistake. It isn't anyone else's fault other than my own.......

I can really feel for the family that a spouse has lost their job, due to the greedy corporations shipping it overseas, and have lost their MODEST home and health insurance. It's the people who who jump in headfirst and buy a quarter of a million dollar mcmansion, (lets not worry about that fine print at the end of the contract) and lose everything. That boils my blood, because I was responsible with my money and have to bail them out so they can keep their mcmansion. That's just bull!!!!

I'm such a pessimist!!!

sunburstlespaulhero1989 · 10-08-2008, 02:23 PM

Quote:

Originally Posted by sybarite

I can really feel for the family that a spouse has lost their job, due to the greedy corporations shipping it overseas, and have lost their MODEST home and health insurance. It's the people who who jump in headfirst and buy a quarter of a million dollar mcmansion, (lets not worry about that fine print at the end of the contract) and lose everything. That boils my blood, because I was responsible with my money and have to bail them out so they can keep their mcmansion. That's just bull!!!!

I'm such a pessimist!!!

you are right, now that we are mad about it, Congress doesn't know what the heck to do..... Those people who are responsible, paid for Congress to be there..... Well, the politicians have to decide whether to help the people and get justice, or help their buds..... either way they are SOL.........

Don'tLikeStinkingThinking · 10-31-2008, 12:56 PM

Grab your political sickness bags this is just wrong!

$50 billion of bailout going to employee bonuses
Posted Oct 31 2008, 07:30 AM by Andrew Horowitz Rating: Filed under: Merrill Lynch, Morgan Stanley, Goldman Sachs, banking, Andrew Horowitz
If it isn't enough to make you sick to your stomach that U.S. taxpayer monies are apparently going to bailout the world's economies, new information has come to light that several banks are planning to pay billions of dollars in year-end bonuses from the bailout funds they received. Already investigations are beginning into the nine banks that took in the first $125 billion. Yes, the same $125 billion that was supposed to be used to unclog the credit system which was preventing banks from providing much needed funds for individuals and businesses.

There are many feathers in a ruffle over this and New York Attorney General Andrew Cuomo and several congressmen are furious that over $20 billion has already been earmarked as bonus monies for management and employees. Unbelievably, that is just the estimates from Goldman Sachs, Morgan Stanley and Merrill Lynch. There are six more banks that are also working on similar heists.

Top Stocks Blog - MSN Money

10-01-2008, 12:20 PM	#1 (permalink)
Don'tLikeStinkingThinking Member Join Date: Jul 2008 Posts: 1,998	This is pure greed and corruption. I am so against this bail out! The best temp gig in history Posted Sep 30 2008, 12:47 PM by Kim Peterson Rating: Filed under: Kim Peterson, JPMorgan, Washington Mutual Congress wants to crack down on CEO mega-salaries for banks participating in the bailout. And while the politicians argue how best to do that, Alan Fishman of Washington Mutual is headed for the doors with $19 million in his pocket. If that wasn't outrageous enough, consider this: Fishman started the job three weeks ago. I never saw the employment ad Fishman answered, but it must have read something like this: WANTED: Top executive for train-wreck bank about to be seized by federal regulators. Must be able to look busy while FDIC sells business from under you. Previous experience with angry shareholders sitting on worthless stock a plus. Perks: $7.5 million hiring bonus and $11.6 million cash severance. Fishman got the best temp gig in history. Read More... Top Stocks Blog - MSN Money Forget me, who I am, whether you dislike my presence on the Roo, but think of yourselves, your family, your children and our futures...Call your congresspersons NOW, PLEASE! __________________ Merci Sadie

10-01-2008, 01:10 PM	#2 (permalink)
AutumnRain Senior Member Join Date: Mar 2005 Location: ma hoose Posts: 3,071	truth be told I am sick fed up of hearing about it... thanks to the mess of the USA's finance world we are feeling the lash of it here.. sort it.. sort it fast.. dont give a hoot how its done but I wont pay cos someone else is messing up AGAIN __________________ Light travels faster than sound. That's why some people appear bright until you hear them speak.

10-08-2008, 08:11 AM	#6 (permalink)
indianajoe Senior Member Join Date: Feb 2005 Location: Indiana Posts: 16,213	"This was not a crazy corporate decision." AIG bailout means facials, pedicures - Top Stocks Blog - MSN Money AIG bailout means facials, pedicures Posted Oct 07 2008, 02:42 PM by Kim Peterson Rating: Filed under: Kim Peterson, economy, AIG First off, I apologize if this post makes you throw up. Got a trash can handy? Here we go.... Remember that $85 billion government bailout of insurance company AIG? Surely executives there must be under the gun, working all hours to dig the company out of trouble. Our taxpayer dollars demand that, right? Nope. Less than a week after getting the $85 billion commitment, AIG execs went on a week-long retreat at the luxurious St. Regis Resort in Monarch Beach, Calif. The trip cost AIG almost half a million dollars, including $200,000 for rooms, $150,000 for meals and $23,000 in spa charges. Sometimes, after you've worked hard at running a company into the ground, only a pedicure will do. Oh, and a stiff drink. The tab also included $25,000 in "leisure dining," also known as drinking in bars. Documents uncovering the AIG vacation came out today during a hearing on Capitol Hill. "If a company is drowning and you're going to spend that kind of money, that's crazy," said one Congressman during the hearing. "The American people are paying for that." "This unbridled greed," said another. "It's an insensitivity to how people are spending our dollars." AIG has some explaining to do. But for some reason Congress didn't get any current executives to show up. The only defense -- a laughable one at that -- came from Eric Dinallo, head of New York State's insurance department. The worst thing that could have happened after the bailout was for AIG employees to flee the company, Dinallo said. "There was a thinking that they needed to bring everyone together," he said, according to Dealbreaker. "This was not a crazy corporate decision." There you have it. Bailout be damned; the Wall Street mentality has not changed.

10-31-2008, 12:56 PM	#10 (permalink)
Don'tLikeStinkingThinking Member Join Date: Jul 2008 Posts: 1,998	I swear I will be heading to Canada with all my assets....criminal I say, Criminal Grab your political sickness bags this is just wrong! $50 billion of bailout going to employee bonuses Posted Oct 31 2008, 07:30 AM by Andrew Horowitz Rating: Filed under: Merrill Lynch, Morgan Stanley, Goldman Sachs, banking, Andrew Horowitz If it isn't enough to make you sick to your stomach that U.S. taxpayer monies are apparently going to bailout the world's economies, new information has come to light that several banks are planning to pay billions of dollars in year-end bonuses from the bailout funds they received. Already investigations are beginning into the nine banks that took in the first $125 billion. Yes, the same $125 billion that was supposed to be used to unclog the credit system which was preventing banks from providing much needed funds for individuals and businesses. There are many feathers in a ruffle over this and New York Attorney General Andrew Cuomo and several congressmen are furious that over $20 billion has already been earmarked as bonus monies for management and employees. Unbelievably, that is just the estimates from Goldman Sachs, Morgan Stanley and Merrill Lynch. There are six more banks that are also working on similar heists. Top Stocks Blog - MSN Money __________________ Merci Sadie

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10-01-2008, 02:23 PM	#3 (permalink)
Don'tLikeStinkingThinking Member Join Date: Jul 2008 Posts: 1,998	Autumn, I don't like hearing of it either, but if I don't post, if I don't research, if I don't read I will be part of the problem and not part of the solution. I do believe citizens can make a difference, in fact I know citizens can. I saw what you reported about your local involvement and personally I contribute to my local community in many ways. However, this is a global thing, yes the shit happened here in the States and we here in the states need to deal with it. The only way I see the citizens dealing with it, is to first know of the problem and the problem has yet to be narrowly defined and we are all just taking bits and pieces of information to try to understand how and who got us in this mess. The Government owes us and if we don't demand they do right by us, we will be paying out our arses for generations to come! Regards, James

10-01-2008, 02:30 PM	#4 (permalink)
sunburstlespaulhero1989 Senior Member Join Date: Jun 2008 Location: Western Saline, Michigan Posts: 4,457 Blog Entries: 1	I was debating this lastnight with my mother's boyfriend. When I spoke to him about this, he gave me a long list of what execs were getting...... well, take it from me...... it was really long and I am sure the totals were through the roof. I don't know how many times I have to say this, well it is getting a bit annoying " I shouldn't have to pay a f-king penny for these people's mistakes". What happens when I do a stupid financial decision? I suffer because I made a mistake. It isn't anyone else's fault other than my own.......

10-03-2008, 01:58 AM	#5 (permalink)
indianajoe Senior Member Join Date: Feb 2005 Location: Indiana Posts: 16,213	Can the bailout work? Fat chance - MSN Money