"US awarded bank auditors bonuses during boom; Regulators who missed warnings received millions" by Matt Apuzzpo, Associated Press | March 19, 2010
WASHINGTON — As banks gambled on the risky mortgages that helped create the worst financial crisis in generations, the US government handed out millions of dollars in bonuses to regulators at agencies who missed or ignored warning signs that the system was on the verge of a meltdown.
They have really done a wonderful job of safeguarding your tax dollars, 'eh, America?
But don't worry, they will fix it.
The bonuses, detailed in payroll data released to the Associated Press, are the latest evidence of the government’s false sense of security during the go-go days of the financial boom. Just as bank executives got bonuses despite taking on dangerous amounts of risk, regulators got taxpayer-funded bonuses for doing “superior’’ work monitoring the banks.
It is just one big looting operation down there, and it makes me sad.
Other than RETURNING to the CONSTITUTION and HAVING the CONGRESS REGULATE the CURRENCY -- not some private collection of banking cartels -- the nation is doomed. Look where we are now after nearly 100 years of control by the Fed.
And with this Congress under the complete control of the money from Wall Street and banks.... sigh.
The bonuses, released in response to a Freedom of Information Act request, were part of a reward program little known outside the government.
There is your transparency, and why the government wants to keep everything secret while wanting to know everything about you -- so much so that private telecoms forward all their information to them.
Some government regulators got tens of thousands of dollars in perks, boosting their salaries by almost 25 percent.
Is that where you wanted your tax dollars going, America?
Often, though, rewards amounted to just a few hundred dollars for employees who came up with good ideas....
Yeah, you were only ripped off a little by a lot of people, so what are you complaining about, America?
So sick of the elitist and insulting tone of newspapers.
