Can you stand it! The US and other governments are feeding billions in our money to prop up companies in the financial market and other arenas who have failed to manage their risk. Now in addition to ridiculous fees we are charged, the government is stiff arming us to "donate to the cause". Where will it end? Nobody knows, but the journey will be chronicled here.

Thursday, January 29, 2009

What did financial services executives do with their bailout?

They gave themselves bonuses!!! And they want more money from us, the taxpayer!! Here's the NBC News Story with the details.
President Barack Obama issued a withering critique Thursday of Wall Street corporate behavior, calling it "the height of irresponsibility" for Wall Street employees to be paid more than $18 billion in bonuses last year while their financial sector was crumbling.
This, a day after he hosted them at the Whitehouse doting on their front line status in the "war on recession". 2007 Executive bonuses were the 6th highest ever during the year that was the worst financially since 1939 when the last "great depression" ended.

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