New York

The state attorney general is looking into Merrill Lynch giving there executives millions in bonus's while excepting taxpayer dollars for a bailout. He will see if there is a case for wrong-doing.

I wonder what the AG will get out of that???????

He'll get some face-time in the papers and on TV, which is what all elected officials want. Bring back the Monarchy! :)

Good to hear someone cares about it. It's complex, because some of these bonuses may have been contractual; but even so I struggle to see how failure should be rewarded.

Heard last night that the bankers say we are not suppose to call it "Bonus" --- we are suppose to call it "Award" --- honest ;)

They said they were sorry? Everybody makes mistakes.

I may be wrong, but I can't see a case as there were no restrictions on the bailout money. I did enjoy the clown show yesterday with all of the politicians being outraged and all with the evil bankers. Give me a break! I want to see the investigation of Freddie and Fannie, but with all of the aforementioned politicians having their fingers dirty there, I'm not holding my breath.

Kind of like giving a kid $10.00. He goes and buys candy with it. You then tell him that he better not have bought any candy with it!

Give these schmucks the rules before you give them the money. The Government should know by now who they are dealing with.

And once we're out of this mess, do not restrict pay and bonus plans for anybody! It's not the governments businss.

But at this time, it IS our business and there should be rules.

Barney Frank could open a clown school........

bughut Wrote:

Nationalize the insolvent banks now, including Bank of America and CitiBank. Recapitalize them and issue new common stock to the US Treasury. Appoint new directors, hire new officers. Pay them reasonable salaries and grant them 10 year stock options that provide them with financial incentives to rebuiold the banks for the long term. Offer stock in the banks on the stock exchanges, and let private investors slowly take the banks back into private ownership again.

Why....oh why....pour billions into the pockets of these greedy bankers who ran their institutions into the ground in the first place...and then have the arrogance to demand bonus pay from tax payer money.

Jay, your idea has merit except for one problem they won't sell it if it is successful. They will take credit for the turn around and keep them.

I have said many time there will be no investigation by Congress on what part the Government and Government owned enterpirses played in the problem. This MG site is living proof. Why would they want to find out when such a high percentage of people blame Bush and the CEO's. There is no upside for them.

ahhhh, socialism taking root in America....
The master plan is underway....

don4975 Wrote:

6863m Wrote:

Just do like Geitner Daschel and the bunch. Don't pay your taxes. Just as good as a bonus. If you get caught just say your sorry it was a simple mistake.

I got a letter from Capital One today regarding a credit card I have with them. They have decided to raise the interest rates on my card.

I've had this card for over 10 years, kept a low balance, ($1000-1500) never had a late payment and always paid more then the minimum monthly amount. I've been a real cash cow to these guys.

Needless to say, I've cancelled my account.

Penalize the folks that make the payments and keep the economy going.
Bail out the a-holes and the bankers that can't pay their bills.