"N.Y. seeks banks' bonus pay data; State Street, 8 others get Cuomo letter" by Bloomberg News | October 30, 2008
Congressional leaders urged Treasury Secretary Henry Paulson to put more restrictions on bank executives' pay, particularly severance payments by companies benefiting from the government's $700 billion rescue plan. In a letter, House Speaker Nancy Pelosi of California and Majority Leader Harry Reid of Nevada told Paulson that voters want the Treasury to be tougher about how much banking executives can earn in so-called golden parachute payments.
Separately, House Minority Leader John Boehner, an Ohio Republican, wrote Paulson yesterday to express concern about rescue funds going to fund mergers, raises, and bonuses. "Funds made available under the economic rescue package should not be used to pay for bank acquisitions, raises, and executive bonuses," Boehner wrote.
You know, I THOUGHT that's what you guys passed!! I mean, YOU LYING ASSHOLES claimed the BAILOUT BILL had all that stuff in it!!!
Now it turns out that the bill was a TRILLION-DOLLAR GIFT to the BUSH CRONIES to DOLE OUT to their FRIENDS as they PLEASED?
Also yesterday, New York Attorney General Andrew Cuomo sent letters to JPMorgan Chase & Co., Citigroup Inc., State Street Corp., and six other banks that received taxpayer bailout funds, demanding bonus information on upper management.
Cuomo asked for a detailed accounting of expected payments to top executives in the "upcoming bonus season," including information on the expected bonus pool for this year, according to a copy of the letters sent yesterday. He requested information on bonuses from before and after the banks knew they would receive funds from the federal Troubled Asset Relief Program.
The six other banks are Goldman Sachs Group Inc., Bank of New York Mellon Corp., Merrill Lynch & Co., Morgan Stanley, Wells Fargo & Co., and Bank of America Corp. Representatives of the nine firms declined to comment or couldn't immediately be reached to comment. --more--"
And YOUR BAILOUT is WHERE, Amurkn homeowner?
"US may act on foreclosures
WASHINGTON - The government is considering a plan to help about 3 million homeowners avoid foreclosure, sources briefed on the matter said.
A final deal had not been reached yesterday but government agencies were contemplating using $50 billion from the recently passed bailout of the financial industry to guarantee about $500 billion in mortgages. The plan could include loan modifications that would lower interest rates for a five-year period, two people said.
That is ALL YOU GET, Americans?
The plan would be the most aggressive effort yet to limit damages from the US housing recession. More than 4 million US homeowners with a mortgage were at least one payment behind on their loans at the end of June, and 500,000 had started the foreclosure process, according to the Mortgage Bankers Association. The government program could be run by the Federal Deposit Insurance Corp. Its chairwoman, Sheila Bair, said last week that she was working on a plan, but revealed few details. --more--"
So HOW MANY MORE HOMES went into FORECLOSURE as the government MULLS OVER whether it will HELP YOU OUT with YOUR OWN MONEY, America?
