NY AG: Before Losing $15 Billion, Merrill Lynch Quietly Made 696 Employees Millionaires

reply to post by questioningall


I can see we have a problem here?
Once they have stolen the Pension funds and your 401K's
Where is the next BAILOUT going to come from?
Wait a second what about all those Charity funds they dont need the MONEY! Lets steal from THEM!

Why do you care what a private company does with it's money ? Are you communists ? Is that company state owned ? Looks like it
In fact it's a form or communism only for the rich.

Originally posted by ThePiemaker
So according to these figures they paid out a minimum of $1.4 billion in bonuses. Is that a normal amount of bonus money for them to pay out?

who knows, but well, for the average american, I don't think the normal bonus would exceed a few thousand dollars...
my first bonus was hundred dollars....and I felt that was great!! can't say what my last bonus was....company policy...
but, it wasn't no million dollars, not even close!

by the way...
madoch or whatever his name is, well he got to the charity funds first....sorry, that pool's tapped out.

hey if we close all the schools, sell all the buses, fire all the teachers, well, that might amount to enough money to feed the monster for a few weeks at least.





[edit on 12-2-2009 by dawnstar]

hey if we close all the schools, sell all the buses, fire all the teachers, well, that might amount to enough money to feed the monster for a few weeks at least.





[edit on 12-2-2009 by dawnstar]

I like the way you think!
I can see the the guy that thinks outside the box!
What about Social services, Fire departments, goverment hospitals we dont need those lets close those down as well!
I think we can keep our head above the S*** for at least a year!
We on a role here boys and girls!
Anyone else with creative ideas?
We can put them all together and send them to the White house~!

"Ha Ha Ha ! Suckers!!!" The Banks CEO was quoted as saying.
Sheeple, Please!!!! Do not be suckered into this feigned outrage on the part of Congress. They knew exactly what they were doing when they turned over the money, and so did the banks. Appearantly not everyone in the press got the message to back off tracking this gift........forcing them to pretend they are on top of it. The Bankers needed to be positioned for the One World Currency that is coming and now they are. The 'Electronic Run' on Money Markets was a brilliant scheme and they can now let America crash, burn, and pick up the pieces. Brilliantly done again Bankers! If this is new to you, type in 'Electronic run' on Youtube.

reply to post by jsmappy

maybe I need a lesson in economic vocabulary.....
does money markets have anything to do with bad mortgages?
maybe some of these funds invested in the mortgages? don't know, just asking.

but was a run on the markets, or was it cause by the bad assetts on the banks...which is what they've been claiming since it first started...

If anyone is deserving of Capital punishment besides mass murderers and rapists, it is these guys!! 10 times over!! All of the lives they have ruined, all the people they killed with the strokes of their pens......They deserve whatever itis thats comming to them, and some! Bastards.

Originally posted by NickT916
i think everyone should take their money out of the banking system......

I am with this one hundred percent. If thousands of people got their money out of the hands of these scumbags then they would really see who has some power. Problem is too many people are just too in love with their cash and are not willing to be the least bit uncomfortable....even to make a huge point and a possibility of change. This sort of thing just enrages me.

Why whine?

Governments print FREE money for themselves.

Banks print FREE money for themselves.

So everyone, you know what to do.

In the perfect light of hindsight, I think we should have made it specifically clear and legally binding.

You get "bailout" money under several conditions, ONE being - you cannot use it for payroll or compensation. If you can't cover those 'basics' you have no business 'managing' an gigantic financial institutions. Fail, as you should.

Hmmm... this may not be a bad thing.
Face it, we have been hooked on the monopoly money crackpipe for too long. Learn history, no level of prosperity has ever been able to last forever. Humans are great at ensuring that certain cycles are able to continue almost flawlessly.
Can we point fingers regarding this economic s***storm? Sure. What good does it do though? In the end, with this major global economic 'reset' button being pushed, all we need is a famine or global coastal event to tip the scales over to full-out paradigm change.

In fact, does anybody else see the paradigm changing right now before their eyes? One year ago today I was watching the first Zeitgeist movie. I had not even heard of this website. Today, many people think differently than they did a year ago. This is a significant time to be alive - and don't fear because the change is always for the better. The problem is surviving though the transition.

News like this will continue until the social contracts erode enough that recalls, rioting, and rethinking begins. Stay alert, stay involved. Our time to act to build a better, more equitable world is coming very soon. If we do not focus on making the world a better place when the 'bottom' hits, then others will step in and take it from us.

Be angry if that helps you focus, but hang in there and be patient and peaceful. We will know when the bottom is upon us, and I doubt any amount of "greenbacks" will be worth a hill of beans at that time.

While I am at it, make your life richer than these faux-millionaires and plant a garden. Seriously, if you have the land, plant on it. If this plays out the way it looks like it will, then that garden will be worth a ton to you. If it does not, you have a good outlet for your energy and fresh fruits and veggies anyway. Win-Win!

No reason for despair because money is temporary, happiness is forever. We are all in control of our happiness.

I've read that agents assigned to Homeland Security post 9/11 will now be assigned to investigate this Wall Street mess, Bankers etc.. Are these CEO's the new Terrorists of the USA?

reply to post by nydsdan


Amen.

Everybody print money like govts and banks do.
Collapse the money system.
Activate The Venus Project.

Yay!

One question I have:

Is this a normal amount of bonus they'd give to these employees? I'd like to see previous years bonuses, and see if at least that is the 'normal' amount they'd receive (not that I think it's a sane amount, but I'd like to see if it's comparable to their normal bonuses).

Either way is bad, but obviously this is worse if they both timed it and boosted the amounts.

Also, I thought the bailout was a fixed amount? I dunno... something doesn't seem right. If they were going to receive X billion, no matter what.. what did the timing of the bonuses matter? Or did they actually receive millions more because of the current state of their finances, when the bailout money was handed out? I'd like to more about this. I'm PO'd, but I'd like to know the whole story.

Originally posted by pai mei
Why do you care what a private company does with it's money ? Are you communists ? Is that company state owned ? Looks like it

In fact it's a form or communism only for the rich.

Are you ridiculous?

I guess you did not hear about all the bailouts etc...

So - let me put it in perspective.

1. Bailout = tax payer money.
2. Tax payer money goes into Bankers Hands (since they are supposed to fix things)
3.They do as stated in the OP.

So we are communists for being upset that the government gives our money to the "economy holders", and they end up using it for jets etc when they have failing businesses which were supposed to be fixed.

Even if the economy does turn over once more and we are doing good - who knows how much of the money they got "bailed out with" just went straight into their pockets?

Originally posted by ThePiemaker
So according to these figures they paid out a minimum of $1.4 billion in bonuses. Is that a normal amount of bonus money for them to pay out?

I don't have quite the answer to that but I can provide a chart of what the CEO's of the financial institutions earned in 06-07. It may not be exactly what was asked, but it is part of this whole scam the bankers have.

Article - Financial Companies Stumble, But CEO's Cash In

List - Company Performance Vs. CEO's Pay

The stock on every one of these companies went down yet they pulled in salaries that are just insane. I took a picture of the list but it doesn't have all the info. Click on the link and check out the details for every CEO, it's astounding the perks they get. Some, I will admit, took cuts or didn't receive bonuses. Some.





EDIT: Trying to get image in. It didn't fit so here's the link.

CEO Salaries

[edit on 2/12/2009 by TheLoony]

[edit on 2/12/2009 by TheLoony]

[edit on 2/12/2009 by TheLoony]

We need more deregulation!

IMHO!

Hi there - HolgerTheDane here (yes my account is still of limits to me because of lost/forgotten password - ATS won't send me info to help out)

Anyway - I thought I'd give you an idea as to why bonusses (boni?) get's paid out.

Shortly before the collapse was a reality, I was summoned (best word for it) to my bank for an important meeting. Couldn't figure out why but they insisted.
Wife and I went.

Turned out that they wanted to inform me that I was a millionaire (only in Danish crowns though) since I had almost paid out our house. They drew a circel on a piece of paper and kept reffering to it as they drew a small slice which was supposed to illustrate how little I had left to pay and how much was available for a second mortgage.

We should stop paying on the remainder and instead pay into a pension scheme, which would be paid out when I retire. That would give me some extra cash in the end. The interest on the pension scheme would easily pay for the accumulated interest on the remainder on the house.

My credit account should be changed for two separate accounts - one for plus and one for minus. (I still don't understand this one). Anyway - it would give me 5% interest. I asked why they didn't just change the interest rate in my existing account, but "that wasn't possible".

When I refused these alternatives and explained to them, that my primary goal is for us to own our house, they turned to my wife and asked her what she thought and if she didn't think they were right.
Being a good wife she looked him straight in the eyes and said something like: "I don't know about money - I leave that to him". (well that's a lie if I ever heard one).

For more than 45 minutes they kept on and on about the benefits in their proposals. When we ended the meeting - which we never asked for - they said, that they would send us the papers - "just in case".

Papers arrived and after having studied all the small print and checked on the bank's internet site it turned out that the pension scheme which was supposed to pay out when I retired only did so if I retired for good i.e. died.
Not only that - the pension scheme was relying on stocks and bonds which would be almost worthless now.

The 5% interest on the credit account was only when I owed them money. When the balance was in the plus the interest would be 0.023 %.

At the meeting I asked them "What's in it for you?". "Nothing", came the answer, "We are here for you. We are YOUR bank advisors".

Bah Humbug.

But it strikes me, that this kind of behaviour from the bank advisors might be what earns them their boni (bonusses?).

HolgerTheDane