Wall Street bonuses 'jumped 17% in 2009'

[Green_Lantern]

Source: BBC

Cash bonuses for Wall Street bankers rose by 17% to $20.3bn (£13.2bn) in 2009, figures have shown.

The data, from the New York state Comptroller Thomas DiNapoli, also said that profits at the firms could be in excess of $55bn for last year.

Mr DiNapoli added that the payouts were a "bitter pill" and "hard to comprehend" for American taxpayers who had bailed out Wall Street firms.

The total does not include bonuses taken in stock options instead of cash.

Read more: http://news.bbc.co.uk/2/hi/business/8531036.stm

[theoldman]

1. This is what happens when you have a bailout without any strings attached.

Remember that the Democrats also voted for the bailout. Most of the blame however falls on Hank Paulson

[defendandprotect]

2. How much interest did we charge them on the bail out and who profitted ?

[Lorien]

3. We should change them the same amount of interest that they charge credit card

holders.

[defendandprotect]

8. Right ... and we should be stampeding Congress to renew Usury laws . . .

and to do something about interest rates paid to depositors!!

[liberation]

4. It is not really the bailout that is the issue...

... banks have access to almost free money from the Fed. We can't even request similar rates even though technically the Fed's money is ours (well, it is not really "ours" but is printed against our "trust" as a nation).

Credit-based capitalism (is there any other kind) is the biggest rip off in history: the institutions providing the least value proposition in society (banks and financial institution) are the ones making the largest profits. Think of it this way: we have to pay them for the privilege of using our own money which they get almost for free.

[Zenlitened]

7. Excellent post. - n/t

[defendandprotect]

9. Great post . . . entirely agree . . .

The Fed took hold of the bailout issue rather than Congress taking it ...

After all, the Congress can be tossed out for their decisions on public policy re

economy -- the Fed can't --!!

And as I understand it the Fed banks and their interconnected banks made huge profits

on all of this/???

Love the way you put this --

Credit-based capitalism (is there any other kind) is the biggest rip off in history: the institutions providing the least value proposition in society (banks and financial institution) are the ones making the largest profits. Think of it this way: we have to pay them for the privilege of using our own money which they get almost for free.

Keep tellin' it liberation!!!



:)

[midnight]

5. I have a hunch that those victimized by this wall street insider betting against

our first and second mortgages is about to start becoming very profitable. They have sponsored an organization that is helping those hit by this financial terrorism- Green Path. Green Path is being refrenced as an organization helping to refinance, when banks turn you down. The pitch from this org is to get info. and give it to banks. They promise not to sell it though. After giving them all banking info. and budgeting with them hopefully a refinance is secured with the bank that turned you down.

[superconnected]

6. Surprise surprise. The right got historically richer and more middle class have joined the poor than

ever before.

[aquart]

10. Now explain to me why we're just supposed to swallow that "bitter pill"?

THIS IS JUST THE FUCKING CASH????

I hope anything they buy with it kills them.