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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on March 20, 2009, 06:22:14 PM
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Let them get as much as they can. If Americans won't get pissed off enough to even march in mass protest than fuck em.
AIG isn't the only bailed-out financial firm paying big bucks to managers who helped steer their company to near collapse. Citigroup has pledged millions of dollars in bonuses to senior executives for the next few years, despite lawmakers efforts to eliminate such payments.
It's not clear whether the bonuses, which Citigroup says are for 2008 but won't start paying out until 2010, will be allowed. Under compensation rules passed by Congress in mid-February, cash bonuses are barred for top executives at bailed-out banks. (See pictures of the global financial crisis.)
But Citi finalized its bonus program shortly before the new rules were introduced. That might make the payments permissible, though they could be made almost worthless by new tax rules just passed by the House of Representatives and headed for consideration in the Senate. Even so, Citigroup's move in January to set in place bonus payments for years to come raises questions about whether it was trying to evade compensation rules it knew were coming.
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Let them get as much as they can. If Americans won't get pissed off enough to even march in mass protest than fuck em.
AIG isn't the only bailed-out financial firm paying big bucks to managers who helped steer their company to near collapse. Citigroup has pledged millions of dollars in bonuses to senior executives for the next few years, despite lawmakers efforts to eliminate such payments.
It's not clear whether the bonuses, which Citigroup says are for 2008 but won't start paying out until 2010, will be allowed. Under compensation rules passed by Congress in mid-February, cash bonuses are barred for top executives at bailed-out banks. (See pictures of the global financial crisis.)
But Citi finalized its bonus program shortly before the new rules were introduced. That might make the payments permissible, though they could be made almost worthless by new tax rules just passed by the House of Representatives and headed for consideration in the Senate. Even so, Citigroup's move in January to set in place bonus payments for years to come raises questions about whether it was trying to evade compensation rules it knew were coming.
Where is their 90% tax penalty????
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Citi is so gangster. They do what the F they want.
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saudi arabia is so gangster. They do what the F they want.
fixed
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The problem is, IMO, taxpayers will end up footing the legal bills when it finally goes to arbitration. Companies write iron clad bonuses with retention in mind and know any losses can be passed off onto shareholders.
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The problem is, IMO, taxpayers will end up footing the legal bills when it finally goes to arbitration. Companies write iron clad bonuses with retention in mind and know any losses can be passed off onto shareholders.
Geithner, Dodd, and Bernake wrote these bonuses into the Stimluus bill and ZERO signed it.
Blaming the alcoholic for drinking another drink is stupid.
This whole mess fall sqaurley on the Congress.
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Geithner, Dodd, and Bernake wrote these bonuses into the Stimluus bill and ZERO signed it.
Blaming the alcoholic for drinking another drink is stupid.
This whole mess fall sqaurley on the Congress.
True.
We would have recovered from them going BK and all those employes would be in front of judges fighting over scraps. Even if they were allowed to enter receivership and we bought them the bonuses wouldn't have been an issue.
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True.
We would have recovered from them going BK and all those employes would be in front of judges fighting over scraps. Even if they were allowed to enter receivership and we bought them the bonuses wouldn't have been an issue.
100%. These wall street banksters are going to do what banksters do, steawl, rob, cheat, etc. The congress is to blame here for thinking that a bankster would do something different with new $$$$ than they did with old money.
If these greedy pigs never got the money in the first place we would not even be dealing with this nonsense.