Heck of a job, Bushies…

by SpiderFarmer on September 22, 2008 · 3 Comments
in Newsfilter, politics

$39 billion: The Wall Street Bonuses for the Big Five Investment Banks Last Year.

“In 2007, Wall Street’s five biggest firms — Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley — paid a record $39 billion in bonuses to themselves.

That’s $10 billion more than the $29 billion loan taxpayers are making to J.P. Morgan to save Bear Stearns.

Those 2007 bonuses were paid even though the shareholders in those firms last year collectively lost about $74 billion in stock declines — their worst year since 2002.”

“These company executives are still fiercely fighting to protect their pay. Politico notes that the Bush Treasury Department is ‘resisting efforts’ by House Democrats ‘to impose pay limits on Wall Street executives and bankers.’”

Bush Backs Unlimited Compensation For Disgraced CEOs: Now Is Not The Time For ‘Punitive Measures’.

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3 Responses to “Heck of a job, Bushies…”

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  1. Political Humor says:
    September 24, 2008 at 8:31 pm

    Interesting article. I really like your blog overall. Really makes me think! Thanks!

Trackbacks

  1. » Heck of a job, Bushies… says:
    September 22, 2008 at 4:42 pm

    [...] Advance Tech Blog wrote an interesting post today onHere’s a quick excerpt $39 billion: The Wall Street Bonuses for the Big Five Investment Banks Last Year. “In 2007, Wall Street’s five biggest firms — Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley — paid a record $39 billion in bonuses to themselves. That’s $10 billion more than the $29 billion loan taxpayers are making to J.P. Morgan to save Bear Stearns. Those 2007 bonuses were paid even though the shareholders in those firms last year collectively lost about $74 billion in stock [...]

  2. Credit Crunch » Heck of a job, Bushies… says:
    September 22, 2008 at 4:45 pm

    [...] Paradenitis wrote an interesting post today onHere’s a quick excerpt $39 billion: The Wall Street Bonuses for the Big Five Investment Banks Last Year. “In 2007, Wall Street’s five biggest firms — Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley — paid a record $39 billion in bonuses to themselves. That’s $10 billion more than the $29 billion loan taxpayers are making to J.P. Morgan to save Bear Stearns. Those 2007 bonuses were paid even though the shareholders in those firms last year collectively lost about $74 billion in stock [...]



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