Posts Tagged ‘Wall Street’
Goldman Sachs sets aside $3.5bn for staff bonuses, pay as quarterly profits tumble
Goldman Sachs sets aside .5bn for staff bonuses, pay as quarterly profits tumble
US investment bank earmarks another .8bn for pay and bonuses as quarterly profits drop 82pc, hit by the UK bonus tax, record fine and volatile markets.
Read more on Daily Telegraph
Goldman takes big hit from UK bonus tax
Goldman Sachs Group Inc. reported a big hit Tuesday from a one-time British tax on bonuses. Reporting second quarter earnings, the investment bank disclosed it would set aside 0 million to pay a one-time U.K. bonus tax.
Read more on AP via Yahoo! Finance
Pay Czar to Banks: Take Back 2008 Bonuses
Pay czar Ken Feinberg is getting ready to stick it to Wall Street again, preparing to demand, or “claw back”, bonus money that some banks paid out during the bailout year of 2008, FOX Business Network has learned. Whether the banks will do so is another story.
Read more on FOX Business
How can Obama “demand” anything from Iran when he can’t even stop Wall Street Bonuses of Bailout Money?
There are such things as “Executive Orders” – If Bush can pass the Patriot Act, Obama could sure as heck put a leash on Wall Street.
If American News Reporters can sit down with Iranians, Hillary could sure as heck sit down with Amadinejad and enter good dialogue.
What are your thoughts on the subject?CEO Bonuses ON THE MONEY
ON THE MONEY 7PM EASTERN ON CNBC AS THE DOW HIT 12000 TODAY MANY ON WALL STREET STARTED TO DREAM OF FAT HOLIDAY BONUSES. AND THIS YEAR A BOOMING STOCK MARKET IS LIKELY TO TRANSLATE TO A VERY HAPPY HOLIDAY.
Do current wall street bonuses include accounting for last years losses or only this years gains?
Are they now collecting bonuses and paying off TARP loans based solely on 1st and 2nd quarter gains, or are they first having to overcome all of the losses they had during the meltdown?
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Who’s Keeping Burger King Workers Below the Poverty Line?
warongreed.org What would you do with an extra $18000 in your pocket? That’s the amount of extra cash each and every Burger King employee in America would have received last year if Goldman Sachs (one of the fast-food chain’s largest owners) had shared its bailout billions with rank-and-file workers. Instead, Goldman Sachs squandered 6.5 billion of our taxpayer dollars on bonuses for their financial staff. These were some of the highest bonuses on Wall Street! Meanwhile, Burger King workers earn wages averaging just $14000 a year — well below the federal poverty line for a family of three. Goldman Sachs has been having it their way with Burger King workers for too long. It’s high time you had it your way with Goldman Sachs. Tell the Wall Street giant how they could have used the $6.5 billion blown on bonuses. We’re looking for the most creative, constructive, or comical ideas to curb corporate greed and help fix the financial crisis. We will send all ideas to Goldman Sachs as a reprimand for their wastefulness. The winner of the Have It Your Way with Goldman Sachs contest will have their idea featured in our next video. The contest ends March 3. Enter the contest: warongreed.org Pass this video and contest to your friends and family. Tell them working people all over the country are pushing back against Wall Street excess. We’re joining with SEIU and others to stage demonstrations and hold Goldman Sachs accountable! And tell them it’s time to end this era of corporate …
Rep. Welch introduces Wall Street bonus tax legislation
Rep. Peter Welch introduced legislation to crack down on excessive Wall Street bonuses and help small businesses obtain the credit they need to survive and to create jobs. Welch unveiled the Wall Street Bonus Tax Act at a press conference at Burlington International Airport as he prepared to return to Washington for the 2010 legislative year. Welchs bill would tax bonuses at firms that have received assistance through the Troubled Asset Relief Program at a rate of 50 percent for all compensation in excess of $50000. Revenues generated through the tax would fund a new direct lending program administered by the Small Business Administration (SBA).
If this is socialism, Marx must be turning in his grave about paying Wall Street bonuses?
Karl Marx thought of socialism as a transitional stage of society between capitalism and communism “distinguished by unequal distribution of goods and pay according to work done” (See Merriam-Webster). If the work done by Wall Street was massive wealth destruction and economic collapse, shouldn’t we be taking money back from them?
Participate in the conversation by leaving your comment below.Do you think that those $650K minimum Wall Street bonuses paid to 1st yr. investment bankers was warranted?
I continue to remember that in 2007 the Ferrari dealers could not keep enough Ferrari’s in stock (especially red ones!) because so many of the of the investment bankers wanted to purchase this “toy” with a portion of their bonus checks.
Participate in the conversation by leaving your comment below.Why do Americans pay so much tax money just to give $Billions in bonuses to Wall Street Fat Cats?
I just read this story:
http://www.nytimes.com/2009/01/29/business/29bonus.html?_r=1&ref=business
About how big failed financial firms like Bank of America have decided to pay out $4 billion to $5 billion in bonuses despite new, gaping losses that forced Bank of America to seek a second financial lifeline from Washington.
So it seems that these big institutions complain that they are broke, then they borrow taxpayer dollars, and then piss it all away on private jets, lavish parties, and billion dollar bonuses for their top executives.
WOW! How can I get some of this free cash? I could become a billionaire almost instantly !!!
My biggest question is: WHY DO THE AMERICAN PEOPLE CONTINUE TO ALLOW THEMSELVES TO BE ROBBED LIKE THIS???
Is everyone in America blind to this crime that is happening to them? It is not like some crook coming up to you with a gun and demanding $200 from your wallet, no, it is MUCH bigger. It is like a banker coming up to you with a gun and demanding your house, your car, all of your cash in your wallet and all of your savings in your bank, and then he feels good about what he has done, so he goes to your neighbor and does the same, and then on to the next guy, and so on and so on. This is crime beyond any in the history of America.
So why is it that people are not rioting in the streets and demanding something be done about it?
Any ideas?