Dy’er Sez: To anyone who still thinks that the bailout programs (started by Bush and finalized with Obama) were for the good of the US economic system and not just to fill the pockets of the bankers, brokers, lobbyists and the politicians who love them: get yer friggen’ head out of yer friggen’ aft stink hole, you maroon!
So, NOW can we audit the Fed and start sending people to jail?
Story from the Daily Mail:
U.S. banks paid out $32.6 billion in bonuses as government spent $175 billion bailing them out
By Mail Foreign Service
Citigroup, Merrill Lynch and seven other American banks banks paid more than $32.6 billion in bonuses in 2008 while receiving $175 billion in taxpayer funds, according to New York Attorney General Andrew Cuomo.
Crippled Wall Street giant and major City employer Merrill Lynch led the way by paying 14 of its bankers more than $10 million (£6 million) last year despite racking up losses of nearly $28 billion.
Some 53 high-flyers at Merrill trousered more than $5 million as it paid a total of $3.6 billion in bonuses to its 59,000 staff worldwide, including thousands in London.
The lavish payments, mirrored at banks across Wall Street and the City, came after Merrill lost $27.6 billion last year and was forced into the hands of Bank of America in an emergency takeover to save it from collapse.
- Where Are They Now? Seven Villains of the Financial Crisis (dailyfinance.com)