Bailed out but still giving bonuses

Discussion in 'Economy' started by JimH52, Oct 23, 2008.

  1. JimH52
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    JimH52 Gold Member

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  2. Vintij
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    Vintij Senior Member

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    Ofcourse they are, and we can report on it all we want......no investigation will happen. And if it does, the FDIC will probably fund it, making it pointless since they could care less what anyone does with their printed money, as long as tax payers pay it back with interest.
     
  3. Turboswede
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    Turboswede Very Metal

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    Yup, so long as they contracted for the bonuses and met the goals set they get them. Next year’s bonuses will probably suck.
     
  4. sparky
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    sparky VIP Member

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    well the real kicker is, they gave some of the same f-ups who f'ed up the job of overseeing the rest of the f-ups...
     
  5. JimH52
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    JimH52 Gold Member

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    if the bonuses are from company profits, fine but if they are from the bailout money, I say no, no matter what the contract says. Do you want your tax money lining the pocket of an executive who was one of guys who got us into this mess in the first place.

    If our tax money is bailing out wall stree companies and banks, aren't we part owners in some way?
     
  6. Care4all
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    Care4all Warrior Princess Supporting Member

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    THAT'S just silly....

    HOW in the heck could they have met their goals if they needed bail out help?
     
  7. Turboswede
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    Turboswede Very Metal

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    Because the FY 08 Goals may have nothing to do with if the institution was profitable or not. The targets are sent out in the proxy statement and need to be approved by the shareholders. The shareholders of the companies providing these bonuses approved them.

    There you go, democracy in action.
     
  8. Care4all
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    Care4all Warrior Princess Supporting Member

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    not really...in fact, it is the good ole boys club of boardmenbers the ceo hires...it is not as transparent as you think.... mainly this is the fault of those in 401k's that don't follow the nitty gritty of the companies that they are invested in....

    there needs to be more disclosure and the shareholders need more of a say in who boardmembers are etc...in my opinion....and the opinion of many.
     
  9. Care4all
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    Care4all Warrior Princess Supporting Member

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    and also, i don't care what their goal.......they obviously were NOT GOOD ONES for their companies to be failing and my tax dollars should NOT IN ANYWAY go towards the irresponsible ceo's that made so many unsound business decisions during this mess, that they have litterally turn the world upside down...sorry to disagree with ya on that...
     
  10. busara
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    busara wanasiasa wapumbava

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    that would be as bad as palin getting her clothes money from the RNC and not the campaign. technically its legal, but but it clearly violates the spirit of the law. if the company got bailed out, the execs shouldnt get anything imo
     

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