The definition of Greed
Bank of America must think that this is still the Bush Administration and they can get away with trying to be above the law. This can’t get much more disgusting. They know they aren’t going to be able to pay out jthe bonuses later so they bust their asses to pay them out early. It says all you need to know about the GREEDY culture that is at the top of Bank of America. This bullshit excuse that you have to pay the top people if you want to retain is tired and hollow. Where are they going to go? If they are so smart how come the bank is in the mess it is? Give me a break…
Let’s not forget that they are laying off thousands of people at this bank, hundreds of them in Delaware.
Today’s Wall Street Journal article on the $209 million given to Merrill Lynch’s top ten earners in 2008 takes the cake. The revelation is causing more problems for the company. The Wall Street Journal is reporting that,
“Bank of America is expected to file a motion on Wednesday in New York State Supreme Court to keep the compensation data from becoming public. Next week, Mr. Cuomo (NY’s Attorney General) intends to make his case that the data shouldn’t be kept confidential. A judge is expected to rule on March 13.”
Cuomo’s brother, Chris, also said on “Good Morning America” that Bank of America would be fighting to keep its pay structure secret.
Look, any literate person knows this is a joke. These banks are LIARS and CHEATS. They’ll take gov’t money to cushion against ‘toxic’ assets on one side of their balance sheet but they won’t take ‘capital’ because then gov’t gets a stake in the business, yes. That’s something for nothing.
Now they want to keep shit secret? Public companies taking fucking tons of taxpayer cash?
Then they claim they aren’t insolvent… so why not lend the new dough? Because you’re fucking insolvent! That’s why the fucking stock prices continue to fall off the precipice (see also Citi). Everyone knows you are lying cunts. It’s all a classic CYA routine. Corporate subterfuge.
Don’t say NATIONALIZE though or you’re a pinko commie.
Nationalize, fire everyone, let in settle, slide back to private sector… JUST FUCKING DO IT ALREADY.
Oh why was it that I could never get one of these dream Jobs.
You know the ones where you can be a total failure and walk out with Millions of $$$$$$$
How many articles have you read about homeoweners in trouble because they bought a house at 700k, refi’d 2x… now owe 1 mil+ and the place is worth 500k. Homeowners cry the blues and Obama’s plan won’t help them. (Jumbos don’t qualify for help.) First reaction is, “Hey you got yourself into this mess – this situation wasn’t exactly unforeseen.”
Banks are crying the blues too… they just have teams of lawyers, accountants and PR folks to lay down cover fire… and the banks did the same thing as the homeowner… only difference is the frequency…
Amen DG! These are the losers I’m sick of bailing out. I have not been impressed with Geithner so far. He seems to be very “conventional” with the wisdom that “governments do a poor job running banks.” Well, bankers did a lousy job running banks!
I won’t feel any confidence until the executives that have run the entire world’s financial system into the ground have been fired. They talk about their “experience.” I want someone who doesn’t have the wrong kind of experience. I want new people!
What is wrong with these people!
Go A.G. Cuomo…..I’ve been wishing for some like-actions from DE’s A.G.s for years on end.
But NOOOO they want to chase stupid criminals around, lock ’em up, throw away the key, and give us the bill for their respective ‘vanity cases’.
Wouldn’t it be something if our A.G.’s office became more active in issue that could make money for the state (we could sure use it)?
Geithner is just in a very unforunate situation. I think he probably knows what needs to be done but there is no political will to do it. People are scared and ignorant and this will not change. So you get half measures. Oh well.
I’ll occupy myself with the great liberal changes at Energy, Interior, Justice, HHS, etc. Rush and Protack and Coulter and FSP and Joe the douche-bag-fake-plumber can divert attention with the economy and the Obama admin can get cool stuff done about the environment and animals and civil rights…
I know Geithner thinks there is no political will for nationalization but haven’t people like Lindsey Graham and Alan Greenspan given him cover?
I love DG’s passion (comment#1) and his pragmatism (comment #6). He keeps his eye on the ball!
P – That’s much appreciated. Since I have been paid such a wonderful compliment I will accept it with sincere graciousness and refrain from commenting for the rest of the day. It’s the old quit whilst you are ahead bit…
rolling eyes 🙂