Showing posts with label Wall Street bonuses. Show all posts
Showing posts with label Wall Street bonuses. Show all posts
10/12/10
Wall Street May Break Pay Record -- Again
Peacenik says this story about record Wall Street compensation. The too big to fail banks and Wall St. firms are bankrupt. They only exist by phony accounting rules. Their executives should be in jail. But wait. Another story heralds the rise of the GOP. The same lying, incompetent, corrupt, warmongers who led the world into this mess are about to take over congress. But wait. The Washington Post reports progress in Afghanistan. Of course this is simply propaganda. But nothing is too preposterous for the neo con pages of the Post. The United States is going crazy. Is crazy. It is a symptom of collapse. The death rattle of a society. And unfortunately it will be the tea partiers, the birthers, fascists, and the kooks who will emerge to start something new. And something very bad.
Wall Street is on track to pay its employees $144 billion this year, breaking a record for the second year in a row, the Wall Street Journal reports. Despite financial reform intended to curb compensation, and a steep decline in trading volume, pay in the financial services industry has shown few signs of fading.
Pay is expected to rise at 26 out of the 35 firms according to the WSJ. According to it's analysis, the $144 billion overall figure is a 4 percent increase over last year's $139 billion. Revenue on Wall Street grew only 3 percent this year, the WSJ says, but, unlike at some businesses outside the financial sector, employee compensation remains a high priority.
The Dodd-Frank financial reform legislation, passed in July, gives regulators the power to write rules governing executive pay. But it remains to be seen how effective -- or restrictive -- those rules will be. Last month, regulators from the SEC, the FDIC and the Federal Reserve testified before the House Financial Services Committee, to explain how they intended to curb executive compensation. But as the rule-making is still in progress, the conversation included few specific strategies or numbers.
Read on...
4/1/09
Max Keiser on Bankers Bonuses
Max Keiser: These guys are financial terrorists. They should be decapitated.[..]
This is counterfeiting to go along with fraud and embezzlement.[..]
This is a pre-planned financial holocaust by financial terrorists. I think if Bin Laden would be running the central bank in the US he would be doing a much better job and less damage.
….they (Goldman Sachs, JP Morgan et al) are systematically undermining the entire system. They are creating a mechanism to carve out equity and capital for themselves at the expense of society at large.
So in the United States, unemployment is skyrocketing. The uninsured is skyrocketing. The social fabric is coming unglued. You have riots all over the world…in Iceland and other countries due to this financial terrorism that was pre-meditated, on purpose and should be addressed as such.
There is a double standard. Why is the US pursuing so-called terrorists in nations like Afghanistan when they let these guys roam free on Wall Street? They’re the worst criminals of all – they do far more damage.
Interviewer: Let’s leave Afghanistan out of this…
Max Keiser: But why? It’s a great source of poppy and heroin which fuels a lot of these bankers bonuses. Let’s be frank about that.
Read on...
Here is Max's bio from the HuffingtonPost: "Max Keiser Bio: financial expert, Prediction Markets inventor, documentary filmmaker. Max created the Hollywood Stock Exchange (HSX) the first integrated Prediction Market, economy and currency. Max's views on global markets and finance are featured on Al Jazeera, France 24, Press TV and Radio France International. Max co-hosts "The Truth About Markets" on Resonance FM 104.4 in London. Max presents "The Oracle with Max Keiser" on BBC World News. He has produced and presented a series of 10 films documenting banking corruption and financial fraud for Al Jazeera's "People & Power.""
Guys like Max don't make it into the MSM in the U.S. Too bad. Follow the link and watch the video of Max talking about the boys on Wall Street. Who do you believe? Max? Obama? Peacenik thinks Max has a lot of credibility.
This is counterfeiting to go along with fraud and embezzlement.[..]
This is a pre-planned financial holocaust by financial terrorists. I think if Bin Laden would be running the central bank in the US he would be doing a much better job and less damage.
….they (Goldman Sachs, JP Morgan et al) are systematically undermining the entire system. They are creating a mechanism to carve out equity and capital for themselves at the expense of society at large.
So in the United States, unemployment is skyrocketing. The uninsured is skyrocketing. The social fabric is coming unglued. You have riots all over the world…in Iceland and other countries due to this financial terrorism that was pre-meditated, on purpose and should be addressed as such.
There is a double standard. Why is the US pursuing so-called terrorists in nations like Afghanistan when they let these guys roam free on Wall Street? They’re the worst criminals of all – they do far more damage.
Interviewer: Let’s leave Afghanistan out of this…
Max Keiser: But why? It’s a great source of poppy and heroin which fuels a lot of these bankers bonuses. Let’s be frank about that.
Read on...
Here is Max's bio from the HuffingtonPost: "Max Keiser Bio: financial expert, Prediction Markets inventor, documentary filmmaker. Max created the Hollywood Stock Exchange (HSX) the first integrated Prediction Market, economy and currency. Max's views on global markets and finance are featured on Al Jazeera, France 24, Press TV and Radio France International. Max co-hosts "The Truth About Markets" on Resonance FM 104.4 in London. Max presents "The Oracle with Max Keiser" on BBC World News. He has produced and presented a series of 10 films documenting banking corruption and financial fraud for Al Jazeera's "People & Power.""
Guys like Max don't make it into the MSM in the U.S. Too bad. Follow the link and watch the video of Max talking about the boys on Wall Street. Who do you believe? Max? Obama? Peacenik thinks Max has a lot of credibility.
2/27/09
Stonewalling in Style: Bank of America Subpoenaed
NY Attorney General Says Ken Lewis Refuses to Say Who Got Bonuses
By RICHARD ESPOSITO and JOANNA JENNINGSFeb. 27, 2009
In just one day, the president of Bank of America, Ken Lewis, managed to defy both President Barack Obama and New York Attorney General Andrew Cuomo.
On Thursday, Lewis refused to provide a list of bonus payments to the New York Attorney General, after arriving in New York in his $50 million corporate jet. Earlier this week, President Obama said the days of bank executives flying corporate jets "were over." Not for Bank of America.
Peacenik isn't going to feign outrage or anger. The Bank of America is insolvent. Bankrupt. Zombified. The BofA has accepted billions of taxpayer dollars so that it can pretend to be an ongoing concern. If anyone could figure out how to deal with the fallout from a bankrupt BofA, the lights would be out already.
Peacenik has to go back and read about the behaviour of the rich during the Russian revolution or the French revolution. Could they possibly have been as out of touch with reality as Ken Lewis is today? He doesn't get it. The public, with pitchforks, will be storming the BofA and Ken Lewis will be on the phone to the caterers complaining that the soup was cold. No, Peacenik isn't angry at Ken Lewis. Peacenik thinks this is all part of an inevitable conflagration. And everyone is playing their role to perfection.
By RICHARD ESPOSITO and JOANNA JENNINGSFeb. 27, 2009
In just one day, the president of Bank of America, Ken Lewis, managed to defy both President Barack Obama and New York Attorney General Andrew Cuomo.
On Thursday, Lewis refused to provide a list of bonus payments to the New York Attorney General, after arriving in New York in his $50 million corporate jet. Earlier this week, President Obama said the days of bank executives flying corporate jets "were over." Not for Bank of America.
Peacenik isn't going to feign outrage or anger. The Bank of America is insolvent. Bankrupt. Zombified. The BofA has accepted billions of taxpayer dollars so that it can pretend to be an ongoing concern. If anyone could figure out how to deal with the fallout from a bankrupt BofA, the lights would be out already.
Peacenik has to go back and read about the behaviour of the rich during the Russian revolution or the French revolution. Could they possibly have been as out of touch with reality as Ken Lewis is today? He doesn't get it. The public, with pitchforks, will be storming the BofA and Ken Lewis will be on the phone to the caterers complaining that the soup was cold. No, Peacenik isn't angry at Ken Lewis. Peacenik thinks this is all part of an inevitable conflagration. And everyone is playing their role to perfection.
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