Vikram Pandit received a $165 million signing bonus from Citigroup last year, together with a $2.7 million salary for a few months of work and $48 million in stock options.The very origins of the crash may be found --not on Wall Street but K-street. K Street is best compared to older portions of LA's Santa Monica boulevard, a less glamorous section of the nation's movie capital where various 'talents' are marketed, bid on and sold. On K-Street, the government whores itself out to major lobbyists by way of its pimps --think tanks, lobbyists, and advocacy groups. The difference is this: on Santa Monica Boulevard, 'John' has to pay his own way if he wishes to 'play'. On K-street, a good time is had by all, but it's you who gets the bill. When the bill is not paid, the crash ensues.
John Mack received $41.8 million in compensation last year, and his 2007 holdings in Morgan Stanley stock were worth $220 million.
These firms' stock, and particularly that of Goldman Sachs and Morgan Stanley, rose rapidly on news of the meeting with Paulson. Goldman stock rose 25 percent to $111 a share, and Morgan Stanley stock rose 87 percent to $18.10 per share. --Global Research, Banks dictate conditions of US Financial Bailout
Am I being unfair to the 'exiting' (hopefully) administration? Impossible! It is not possible to express the depths of pure evil this administration has indulged in your name!
First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets.The best evidence that the bailout is a cover for a yet another huge transfer, a 'spreading around of wealth, to Bush's 'base' may be found in the following letter by the CEO of a so-called 'healthy' bank.
Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again.
But reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it. Insurance companies now want a piece; maybe automakers, too, even though Congress has approved $25 billion in low-interest loans for them.
--Uses for $700 billion bailout money ever shifting
There is no panic on Main Street and in sound financial institutions. The problems are in high-risk financial institutions and on Wall Street. ... The primary beneficiaries of the proposed rescue are Goldman Sachs and Morgan Stanley. ... Treasury is totally dominated by Wall St. investment bankers. They do not have knowledge of the commercial banking industry. Therefore they cannot be relied on to objectively assess all the implications of government policy on all financial intermediaries. The decision to protect the money funds is a clear example of a material lack of insight into the risk to the entire financial system. --John A. Allison of BB&T, A healthy bank's CEO rejects the bailout: An open letter to CongressA financial 911? Perhaps! By any name, the Bush crime family in cooperation with the GOP, the MIC, K-street, and Wall Street have just sold out the future of every American except those of the very, very, very, very rich.
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