According to the upcoming New York Times Magazine, during the time
of the tough negotiations over executive compensation headed by pay
czar Kenneth Feinberg, Wall Street had an ally - in both the Treasury
Department and the New York Federal Reserve. No one fought harder,
though, than CFO David Herzog, who threatened to leave the firm if he
didn't get to keep his $1.5 million bonus. Time wrote, "No one at
A.I.G. seemed to be embarrassed to argue that the chief financial
officer of Wall Street's Titanic was irreplaceable."
note - AIG's spent $3 million from taxpayers - on two compensation
consultants and two Wall Street firms to file their compensation
proposal to Feinberg.
These guys really are terrorists - they strap
metaphorical explosives on themselves and threaten to blow up the
economy if we don't give them what they want. They're terrorist
And how they're saying "bend over and take it" to the Obama
administration and Obama is asking them "How far?"
And when your tax
bill comes in April - about $700 for every man, woman, and child in
America going to the banksters, they'll be asking us to bend over and
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