Seething Anger in Money Land
Sep. 24th, 2008 04:03 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
recalcitranttoyDoctor was wondering why my blood pressure went up. Gee, heh. I posted the below as a comment to ![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
badmagic's journal, and figured why not post it here too. How DARE our President and the Republicans say it's ok for these weasels to make this kind of money while the rest of us lose their homes? If any of US screw up on the job, we get fired. MAYBE we get unemployment.
Hurry up, right now...must pass this without oversight. Haven't we heard this all before? Can you say "Patriot Act?"
However, what boggles me the most is that the bastards that DID all of this are not going to have to give up a dime, and that includes bonuses. Wouldn't 700 billion given back to the taxpayers buy most of us out of debt completely? But NO...the Republicans won't vote for a cap on what these people make, which could pay THOUSANDS of "regular" employees. (take just the Fuld's salary for a start. 34 million. Let's say the average person makes 50,000 per year. His salary alone would employ 680 people).
According to the Phoenix Business Journal here's some of what our lovely CEO pals are making (NOT INCLUDING BONUSES)
* Lehman Brothers Chairman and CEO Richard Fuld Jr. made $34 million in 2007. Lehman (OTC:LEHMQ) filed for Chapter 11 Bankruptcy protection earlier this month.
* Goldman Sachs (NYSE:GS), which Sunday gained Federal Reserve Bank approval to become a bank holding company, paid its Chairman and CEO Lloyd Blankfein $70 million last year. Co-Chief Operating Officers Gary Cohn and Jon Winkereid were paid $72.5 million and $71 million, respectively.
* American International Group’s chief executive Martin Sullivan got a $14 million compensation package in 2007. He was ousted in June. The insurance giant (NYSE:AIG) is on the receiving end of an $85 billion federal bailout. Edward Liddy took over as AIG’s chief executive earlier this month.
* Morgan Stanley Chairman John Mack earned $1.6 million. Chief Financial Officer Colin Kelleher got a $21 million paycheck in 2007. Morgan Stanley (NYSE:MS) also received approval to become a banking holding company, a shift that allows Morgan and Goldman to bring in bank deposit assets which offer more solid financial footing.
* Merrill Lynch CEO John Thain was paid $17 million in salary, bonuses and stock options in 2007. Merrill (NYSE:MER) is being acquired by Bank of America (NYSE:BAC). BofA CEO Kenneth Davis earned $25 million in 2007.
* JP Morgan Chase & Co. Chairman and CEO James Dimon earned $28 million in 2007. Chase (NYSE:JPM) acquired troubled investment house Bear Stearns earlier this year with the federal government promising to take on as much as $30 billion in Bear assets to help get the deal done.
* Fannie Mae CEO Daniel Mudd received $11.6 million in 2007. His counterpart at Freddie Mac, Richard Syron, brought in $18 million. The federal government announced earlier this month it was taking over the mortgage backers with Herbert Allison to serve as Fannie CEO and David Moffett the new CEO at Freddie.
* Wachovia Corp. Chairman and CEO G. Kennedy Thompson received $21 million in 2007. He was succeeded by Robert Steel as CEO in July. Steel is slated to get a $1 million salary with an opportunity for a $12 million bonus, according to CEO Watch. Wachovia (NYSE:WB) is one of the banks that could be sold in the midst of the financial crisis.
* Seattle-based Washington Mutual (NYSE:WAMU) will pay its new CEO Alan Fishman a salary and incentive package worth more than $20 million through 2009 for taking the helm of the battered bank, according to the Puget Sound Business Journal.
Are you sick yet?
badmagic's journal, and figured why not post it here too. How DARE our President and the Republicans say it's ok for these weasels to make this kind of money while the rest of us lose their homes? If any of US screw up on the job, we get fired. MAYBE we get unemployment. Hurry up, right now...must pass this without oversight. Haven't we heard this all before? Can you say "Patriot Act?"
However, what boggles me the most is that the bastards that DID all of this are not going to have to give up a dime, and that includes bonuses. Wouldn't 700 billion given back to the taxpayers buy most of us out of debt completely? But NO...the Republicans won't vote for a cap on what these people make, which could pay THOUSANDS of "regular" employees. (take just the Fuld's salary for a start. 34 million. Let's say the average person makes 50,000 per year. His salary alone would employ 680 people).
According to the Phoenix Business Journal here's some of what our lovely CEO pals are making (NOT INCLUDING BONUSES)
* Lehman Brothers Chairman and CEO Richard Fuld Jr. made $34 million in 2007. Lehman (OTC:LEHMQ) filed for Chapter 11 Bankruptcy protection earlier this month.
* Goldman Sachs (NYSE:GS), which Sunday gained Federal Reserve Bank approval to become a bank holding company, paid its Chairman and CEO Lloyd Blankfein $70 million last year. Co-Chief Operating Officers Gary Cohn and Jon Winkereid were paid $72.5 million and $71 million, respectively.
* American International Group’s chief executive Martin Sullivan got a $14 million compensation package in 2007. He was ousted in June. The insurance giant (NYSE:AIG) is on the receiving end of an $85 billion federal bailout. Edward Liddy took over as AIG’s chief executive earlier this month.
* Morgan Stanley Chairman John Mack earned $1.6 million. Chief Financial Officer Colin Kelleher got a $21 million paycheck in 2007. Morgan Stanley (NYSE:MS) also received approval to become a banking holding company, a shift that allows Morgan and Goldman to bring in bank deposit assets which offer more solid financial footing.
* Merrill Lynch CEO John Thain was paid $17 million in salary, bonuses and stock options in 2007. Merrill (NYSE:MER) is being acquired by Bank of America (NYSE:BAC). BofA CEO Kenneth Davis earned $25 million in 2007.
* JP Morgan Chase & Co. Chairman and CEO James Dimon earned $28 million in 2007. Chase (NYSE:JPM) acquired troubled investment house Bear Stearns earlier this year with the federal government promising to take on as much as $30 billion in Bear assets to help get the deal done.
* Fannie Mae CEO Daniel Mudd received $11.6 million in 2007. His counterpart at Freddie Mac, Richard Syron, brought in $18 million. The federal government announced earlier this month it was taking over the mortgage backers with Herbert Allison to serve as Fannie CEO and David Moffett the new CEO at Freddie.
* Wachovia Corp. Chairman and CEO G. Kennedy Thompson received $21 million in 2007. He was succeeded by Robert Steel as CEO in July. Steel is slated to get a $1 million salary with an opportunity for a $12 million bonus, according to CEO Watch. Wachovia (NYSE:WB) is one of the banks that could be sold in the midst of the financial crisis.
* Seattle-based Washington Mutual (NYSE:WAMU) will pay its new CEO Alan Fishman a salary and incentive package worth more than $20 million through 2009 for taking the helm of the battered bank, according to the Puget Sound Business Journal.
Are you sick yet?
