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$18 billion for Wall Street bonuses, sixth best year on record
Corrente —
Izvestia:
Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial companies in New York, the now-diminished world capital of capital, collected an estimated $18.4 billion in bonuses for the year.
That was the sixth-largest haul on record...
If you ask me, they deserve every penny. Read more…
ThinkFast: January 29, 2009
Think Progress —
... A report by the New York State comptroller revealed that Wall Street employees reaped an estimated $18.4 billion in bonuses for the year, “the sixth-largest haul on record.” Despite billions lost in revenue this year, “Wall Street workers still took home about as much as they did in 2004, when the Dow Jones industrial average was flying above 10,000, on its way to a record high.” ...
The WonkLine: January 29, 2009
Wonk Room —
... “Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business,” Wall St. employees collected $18.4 billion in bonuses in 2008. ...
wall street greed
skippy the bush kangaroo —
... a report by the new york state comptroller revealed that wall street employees reaped an estimated $18.4 billion in bonuses for the year, “the sixth-largest haul on record.” despite billions lost in revenue this year, “wall street workers still took home about as much as they did in 2004, when the dow jones industrial average was flying above 10,000, on its way to a record high.” - ...
The sound of one hand clapping
The Reaction —
... So naturally, the first question I have to ask is, "Why would you spend half a trillion dollars on a land that you will never ever visit to assist people you will never ever meet, but not a dime to help the family down the block buy a loaf of bread or get a flu shot? Why would you spend a trillion and a half to bailout your banking buddies so they can buy corporate jets or pay obscene bonuses, but not help a fourth grader keep her clarinet?" ...
Claw Back The Bonuses
TPMCafe —
... The New York Times revealed this morning that Wall Street Paid out over $18.4 Billion in bonuses for last year's great work by their executives. ...
No More Mister Nice Blog — RICH EXECUTIVES: STILL GREEDY, ARROGANT SCUM WHO THINK WE DON'T HAVE A SUFFICIENT APPRECIATION OF THEIR BRILLIANCE The real affront to decent people everywhere in this New York Times article isn't the lede: By almost any measure, 2008 was a complete disaster for Wall Street -- except, that is, when the bonuses arrived. Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial companies in New York, the now-diminished world capital of capital, collected an estimated $18.4 billion in bonuses for the year. That ...
Obama: Wall Street Bonuses "Outrageous"
TPMMuckraker —
President Obama has weighed in on the controversy over Wall Street bonuses.
Obama this morning called the bonuses "outrageous", according to White House Robert Gibbs, speaking at a press briefing moments ago.
A report released by the New York State comptroller's office and written up today by the New York Times found that Wall Street firms awarded over $18 billion in bonuses, despite the financial crisis that many of them helped trigger.
Yestrday, it was reported that AIG paid $450 million in bonuses to the unit that sold those disastrous credit default swaps.
And of course, New York ...
Obama: $18B In Wall Street Bonuses "Outrageous"
Politics on HuffingtonPost.com —
President Barack Obama responded Thursday to a front page story in the New York Times which reported that Wall Street handed out $18.4 billion in bonuses for the year, calling the payments "outrageous."
From the AP:
President Barack Obama said Thursday it was "outrageous" that Wall Street employees got more than $18 billion in bonuses last year. White House press secretary Robert Gibbs said the president told his staff of his reaction to the report by the New York state comptroller about bonuses paid by the securities industry to its New York City employees last year.
Obama was meeting in the Oval ...
Dodd Slams Wall St. Bonuses, Warns Firms
The Caucus —
Senator Christopher Dodd, chairman of the Banking Committee, today fired a warning shot at Wall Street firms who doled out $18.4 billion in bonuses to financial employees despite the financial crisis and mega-bailout plan, saying they would be summoned before his committee if taxpayer money were involved in any way. “Whether it was used directly or indirectly, this infuriates the American people and rightly so,” Senator Dodd said, referring to the findings of an annual report ...
Obama Calls Wall Street Bonuses 'Shameful' and the 'Height of Irresponsibility' -- But Unclear How Stern He Was With CEO's During Visit Earlier This Week
Political Punch —
... Obama Calls Wall Street Bonuses 'Shameful' and the 'Height of Irresponsibility' -- But Unclear How Stern He Was With CEO's During Visit Earlier This Week January 29, 2009 4:10 PM President Obama blasted Wall Street CEOs Thursday afternoon, calling it "shameful" that they had given themselves billions of dollars bonuses during a year when the financial sector had to beg for billions in taxpayer dollars or risk crashing. Referring to a story in the New York Times today indicating that in 2008 Wall Street executives paid themselves $18.4 billion in bonuses -- the sixth largest ...
Obama's Biting Rebuke of Wall Street
Swampland —
Barack Obama has been starting his days in the Oval Office much later than his predecessor, a pattern that allows him to workout and read the papers before he sends his daughters off to school. This morning, during this routine, he got peeved by the New York Times. Not by the newspaper itself, but by a story in the middle of the front page ...
Obama Ally Introduces Bill to Cap Salaries of CEOS from TARP-Receiving Companies
Political Punch —
... -- first reported in the New York Times -- that Wall Street executives in 2008 paid themselves $18.4 billion in bonuses -- the sixth largest such raking in recorded history, according to the New York State Comptroller's office, despite the financial sector's abysmal year. You can read McCaskill's bill -- the Cap Executive Officer Pay Act of 2009 -- ...
Paul Raushenbush: God Damn Wall Street!
Politics on HuffingtonPost.com —
God Damn Wall Street!
Ok, I had to get a little Jeremiah Wright off my chest because the disgusting behavior of Wall Street while our economy crumbles has made it tough to maintain equanimity.
The rip off disgrace of Bernie Madeoff, the spa adventures of government bailed-out AIG, the $100,000 office antics of Merrill Lynch's John Thain, - these have been enough to wish for some good old fashioned Divine judgment. But now the New York Times recently reported that hefty bonuses were awarded on Wall Street:
"Despite crippling losses, multibillion-dollar bailouts and the passing of ...
Wall Street Insiders Whine Over Obama Executive Pay Limits: ‘$500,000 Is Not A Lot Of Money’
Think Progress —
Today, President Obama announced that top executives’ pay at companies accepting TARP funds would be capped at $500,000, with any additional compensation coming only in the form of stock options that could not be cashed until the government had been repaid.
As news of the plan leaked last night, wealthy Wall Street went into panic mode, insisting that the caps would ruin the financial industry. It’s “a nightmare for any financial institution,” CNBC host Joe Kernen proclaimed this morning, while Fox Business host Alexis Glick said it was evidence of Obama being “a little anti-business.” Others ...
Should We Really Cap Executive Salaries at Bailed-Out Companies?
Pajamas Media —
... has already suggested that those that fail on Wall Street, the ultimate high risk, high reward profession, should share her guillotine experience. He argues that other professions such as pilots already risk death every day on the job for much less pay. The phrase “Let them eat cake” certainly flitted in my head when the New York State Comptroller, Thomas Di Napoli, announced that the financial services companies paid a staggering $18.4 billion in bonuses for the year 2008. Incredibly, it was the 6 th largest bonus haul in history despite this year being one of multi ...
