No profits? Here's a fat bonus!

No profits? Here's a fat bonus!

money.cnn.com
Citi and Merrill Lynch paid big bonuses despite losing money last year while fellow TARP recipients Goldman and JPMorgan paid more than they earned.

By David Ellis, CNNMoney.com staff writer
Last Updated: July 30, 2009: 3:03 PM ET


NEW YORK (CNNMoney.com) -- Even as top banks delivered abysmal performances last year, they still managed to pay out billions of dollars employee bonuses, according to a study published Thursday by New York Attorney General Andrew Cuomo.

In an analysis of compensation practices of the original nine banks that received money under the Troubled Asset Relief Program, or TARP, most financial firms paid out compensation that was nowhere close to their overall yearly performance.

Citigroup (C, Fortune 500),

(visit the link for the full news article)



[edit on 31-7-2009 by azureskys]

This has got to be the most masive organized crime wave of the history of humanity

Decent, hard working people losing everything they ever worked for.

Can we do anything to stop this insanity ??
I mean really can we. I don't believe letters, e-mails, phone
calls, marches/protests are hardly the answer.
Some how WE ALL need to stop feeding the monster !!


[edit on 31-7-2009 by azureskys]

Originally posted by azureskys

This has got to be the most masive organized crime wave of the history of humanity

Decent, hard working people losing everything they ever worked for.

Can we do anything to stop this insanity ??
I mean really can we. I don't believe letters, e-mails, phone
calls, marches/protests are hardly the answer.
Some how WE ALL need to stop feeding the monster !!

So stop feeding the monster.

Start by cutting all your debit, credit & ATM cards in half & cleaning out & closing all your bankaccounts.

Or is that too much to ask?

EDIT: I DID JUST LIKE MANY OF MY FRIENDS WHO ARE OFF THE FINANCIAL GRID.

[edit on 31-7-2009 by Truth4hire]

reply to post by Truth4hire



I do not and have never owned a credit acount. I do not use a debit/ATM card.
I have no debt. I owe nothing monetarily. Never have at 58 years old.


How about a word-wide strike/boycot of everything.
And I mean everything that involves money.
OH, say, do it for a week.

I don't see why rather than bail out the businesses they just didn't bail out the people and then give the overflow to the people to spend...its called free enterprise..well it used to be at least.

You can't boycott banks unfortunately
How would you get paid?

Some companies only do direct deposits and you need a bank account to cash a check

Unless you become a good patriot and get an under-the-table job.

Originally posted by azureskys
I do not and have never owned a credit acount. I do not use a debit/ATM card.
I have no debt. I owe nothing monetarily. Never have at 58 years old.

You are my hero dude!
I really wish I could say the same for myself

We see similar stuff in South Africa almost on a daily basis. A year or two ago the country was brought to its knees by the sole electricity provider ESKOM. While the plants were unable to meet public demand the directors were getting "performance bonuses" of millions.

Just the other day our ministers purchased "official vehicles" of millions - while the country is an economic crisis?!

And so on and so forth.

Bottom line is - the fat cats are getting fatter and the small people are finding it harder to make ends meet each day. Ad there is nothing you can do about it. You cannot exist without a bank account... If you complain about bank costs, they tell you to go to a different bank. And the next bank is even worse!

It's a win-lose situation and frankly I'm yet to meet someone on the winning side...

So instead of going with banks that gamble their money away why not open a credit union account in your local area?


Posted Via ATS Mobile: m.abovetopsecret.com

Originally posted by azureskys
reply to post by Truth4hire

 

I do not and have never owned a credit acount. I do not use a debit/ATM card.
I have no debt. I owe nothing monetarily. Never have at 58 years old.


How about a word-wide strike/boycot of everything.
And I mean everything that involves money.
OH, say, do it for a week.

Excellent idea my friend...

If one billion people stop using cards & cash for a week that would send a message.... Barter allowed.

I would make it a month though.

Originally posted by ModernAcademia
You can't boycott banks unfortunately
How would you get paid?

Some companies only do direct deposits and you need a bank account to cash a check

Unless you become a good patriot and get an under-the-table job.

You are my hero dude!
I really wish I could say the same for myself

Maybe it is time to do a reality check...

If you cannot "live" without a bankaccount there is something wrong with your perception. If I can live without and several others can live without so can you. The problem is not that you CAN not, no, the problem is you WILL not because you are not willing to make personal sacrifice to passively, non-violently fight the established order that holds humanity captive in its monetary grid.

Calling others heroes is fine, but you need to take a long hard look in the mirror and ask yourself what you really want.

And to Gemwolf: Sure you can win. It starts with attitude & a few good individuals. The rest is pure momentum.

Gee, and the masses were fooled when the Obama administration feigned outrage when AIG paid out bonuses.

I mean after all, that was soooo sneaky of AIG -- in fact, because of AIG, we now pay for 3 - 4 more czars just to prevent this type of thing from happening.

The excuse then was -- loopholes, rush to patch the economy, no time for dotting every 'i' -- but don't worry people, this type of thing will not be tolerated while Obama is in office!!!

Oh, shoot - now we need czars to watch the czars.

Oh well, China still has checks left in ITS checkbook...........

I agree with everyone that this shameful profiteering must be confronted. Living off the financial grid is OK for many, bet there are some who will not be able to avoid it, especially if they are in the process of being sucked into the system by higher education.

The real problem is that the Banks now - for most intents and purposes (save the common good) - are part of the government. They will not upset that apple cart because the government is utterly subservient to the money machine.

We should have realized this in 1914 when they 'gave' the private bank, the Fed, it's own 'law enforcement' branch (IRS) to extort the citizens for the single most heinous offense against the public since King George - Income tax.

The fact that it is illegal to tax the labor of the citizens this way seems to have eluded all of our political celebrities for a century. That kind of entrenched control will not be threatened by the citizens - especially as we are busy fighting each other over fabricated crises. But then, some would say that is the whole point.

We need a government that is OUR ally, not theirs.

[edit on 31-7-2009 by Maxmars]

It is about time to remind you of a world that is possible TODAY.

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