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Banks using bailout money for exec compensation

Discussion in 'Uncategorized Threads' started by halfmile, Oct 25, 2008.

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  1. halfmile

    halfmile Well-Known Member

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    Yes, on CNN last night. I couldn't get the whole story, I was going into "Redout".

    Lucky the TV survived.

    HM
     
  2. halfmile

    halfmile Well-Known Member

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    Found a link on the subject. Mash away.

    This kills me:

    "At one point last week the Morgan Stanley $10.7bn pay pot for the year to date was greater than the entire stock market value of the business. In effect, staff, on receiving their remuneration, could club together and buy the bank."

    If they worked at GM they probably could, too.


    HM
     
  3. Brian in Oregon

    Brian in Oregon Well-Known Member

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    That's the problem with rushed, panic legislation. It isn't thought through and there are loopholes for the unethical to exploit.
     
  4. halfmile

    halfmile Well-Known Member

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    ol' G. W. sure sold this one to the public. he had a "deer in the headlights" look when he came on TV. I think the puppet masters had their hands on his jugular.

    HM
     
  5. cubancigar2000

    cubancigar2000 Well-Known Member

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    Brian and Halfmile you are so right. It was a panic act of stupidity
     
  6. Bisi

    Bisi TS Member

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    The only people who lose are the "suckers" aka - shareholders and taxpayers.

    GD crime!
     
  7. bigdogtx

    bigdogtx Well-Known Member

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    MIA, what we need is a private/public oversight board of the bailout/rescue/pig, whatever you call it. This board would report findings to the public in newspapers. No oversight by the feds or banking system. UNTIL they are out of the loop, there will be rampant corruption and WASTE of OUR money!!!!
     
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