Keyword: bonuses

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  • VA Officials Will Get Millions of Dollars in Bonuses Under House-Senate Agreement

    07/29/2014 9:14:22 AM PDT · by Nachum · 12 replies
    The Blaze ^ | 7/29/14 | Pete Kasperowicz
    A House-Senate agreement on how to reform the broken Department of Veterans Affairs will let the VA hand out up to $360 million in bonuses to its employees each year, even though the House voted just weeks ago to strip all VA bonuses through 2016. The compromise bill announced Monday by the chairmen of the House and Senate Veterans’ Affairs Committees says VA bonuses will be capped at $360 million annually for the next ten years. But that cap is just 10 percent below the $400 million in bonuses the VA has distributed in recent fiscal years, and will allow...
  • Report: $8.8 million in taxpayer-funded bonuses at seven accused VA facilities since 2011 (VIDEO)

    05/23/2014 10:16:58 AM PDT · by PoloSec · 9 replies
    Hot Air ^ | May 23 2014 | Guy Benson
    Open the Books — a good government and transparency-minded watchdog organization — does exactly what their name implies, and discovers that taxpayers showered officials at seven embattled VA locations with nearly $9 million in bonus pay between 2011 and 2013: Now, at least seven VA centers are being investigated for “secret” waiting lists. Here are the bonuses into these troubled facilities (2011-2013): Now, at least seven VA centers are being investigated for “secret” waiting lists. Here are the bonuses into these troubled facilities (2011-2013): 1. Edward Hines, JR Hospital, Cook County, IL ($4.1356 million) 2. Malcolm Randall VA Medical Center,...
  • Watchdog: IRS Employees Who Owed Taxes Paid $1M in Bonuses

    04/23/2014 7:08:47 PM PDT · by lbryce · 7 replies
    FoxNews Insider ^ | April 23, 2014 | Staff
    A watchdog group has found that IRS employees who owed back taxes were still paid $1 million in bonuses. Read more about this story below, via FoxNews.com: The report by the Treasury Inspector General for Tax Administration found that while for the most part the reward program for IRS workers complied with federal regulations, employees who had themselves failed to pay their federal taxes and had discipline problems were also rewarded.
  • Senator Rebukes IRS Over Decision To Reinstate 2013 Employee Bonuses

    02/04/2014 5:31:34 AM PST · by blam · 15 replies
    Fox News ^ | 2-4-2014 | Fox
    Senator Rebukes IRS Over Decision To Reinstate 2013 Employee Bonuses Published February 04, 2014 • FoxNews.com The IRS' announcement Monday that it will pay cancelled 2013 bonuses has infuriated Utah Republican Sen. Orrin Hatch, who wants to know why an agency with employees who “inappropriately” targeted conservative political groups would reinstate the rewards. “The IRS is accused of targeting conservative groups, with many of its employees having conducted themselves in a manner inappropriate for government officials, and the agency decides to reinstate employee bonuses?” asked Hatch, the top Republican on the Senate Finance Committee. “This is outrageous.” The announcement was...
  • Senator: IRS to pay $70M in employee bonuses

    06/19/2013 4:36:35 AM PDT · by Zakeet · 12 replies
    Associated Press ^ | June 19, 2013 | Stephen Ohlemacher
    The Internal Revenue Service is about to pay $70 million in employee bonuses despite an Obama administration directive to cancel discretionary bonuses because of automatic spending cuts enacted this year, according to a GOP senator. Sen. Chuck Grassley of Iowa says his office has learned that the IRS is executing an agreement with the employees' union on Wednesday to pay the bonuses. Grassley says the bonuses should be canceled under an April directive from the White House budget office.
  • U.S Gives Bailed Out Cos Millions in “Shameful” Bonuses

    01/29/2013 10:13:45 AM PST · by jazusamo · 3 replies
    Judicial Watch ^ | January 29, 2013
    While American taxpayers bail out failing companies via the $700 billion Troubled Asset Relief Program (TARP), behind the scenes the Obama Treasury Department is awarding their top executives with millions of dollars in raises even though Congress passed a law forbidding it. It’s an inconceivable scheme that rewards bad behavior with big bucks from taxpayers who have no say in the matter. In fact, the U.S. Treasury was forced by Congress to create rules against it yet a new federal audit reveals the agency repeatedly violates them to enrich the very people responsible for the companies’ failures (and need for...
  • UAW Gets $12 Million from GM as Taxpayers Get Scrooged

    12/14/2011 9:40:41 AM PST · by jazusamo · 3 replies
    National Legal & Policy Center ^ | December 14, 2011 | Mark Modica
    Bloomberg reported last week that General Motors will be paying $12 million in additional bonuses to its UAW workers for meeting "quality targets." It's nice to see the holiday spirit of giving at GM. Unfortunately; US taxpayers are not faring as well as Government Motors' politically favored union members. The Obama Administration still refuses to exit its stake in GM with Treasury serving as Money Manager for the American taxpayers. Geithner and friends continue to gamble on a market-timing strategy to "maximize" taxpayers return on its GM bailout (sorry, "investment.") So, how are they doing? Back in July, I...
  • GIMMICKS: Obama Bans Swag but Fannie-Freddie Get Obscene Bonuses

    11/10/2011 1:24:39 PM PST · by Driftwood1 · 8 replies
    Politico ^ | 11-10-11 | MJ Lee, Josh Boak and Joseph Williams
    The swag hunt is on, but finding it is proving a lot harder than President Barack Obama might think. Obama signed an executive order Wednesday to promote cut costs and section seven, titled “extraneous promotional items,” states that “agencies should limit the promotional items (e.g., plaques, clothing, and commemorative items), in particular where they are not cost-effective.” The Federal Housing Finance Agency, the government regulator for Fannie and Freddie, approved $12.79 million in bonus pay after 10 executives from the two government-sponsored corporations last year met modest performance targets tied to modifying mortgages in jeopardy of foreclosure. The executives got...
  • Solyndra executives collected hefty bonuses in months before Fremont company filed for bankruptcy

    11/02/2011 9:54:13 PM PDT · by NormsRevenge · 21 replies
    Mercury news ^ | 11/2/11 | Dana Hull
    Senior executives at Solyndra collected hefty bonuses -- ranging from $37,000 to $60,000 apiece -- as the Fremont company bled cash and careened toward bankruptcy this summer. Bankruptcy documents filed in Delaware earlier this week reveal that more than a dozen senior executives at the defunct solar manufacturing company were awarded sizable quarterly bonuses April 15 and again July 8. Solyndra ceased operations in late August and filed for bankruptcy Sept. 6. About 1,100 employees were laid off without severance pay. The bonuses, awarded to more than a dozen executives, came on top of what were already highly competitive salaries....
  • Reports: UAW members can expect signing bonuses as high as $10k from Detroit's Big Three

    09/11/2011 3:44:43 PM PDT · by Nachum · 24 replies
    M.Live.com ^ | 9/11/11 | Michael Wayland
    With approximately 85 hours remaining before contracts between the United Auto Workers union and Detroit’s Big Three expire, UAW members can expect a substantially higher signing bonus than in year’s past, according to reports. But, just how high the bonuses will be remains under speculation. Sept. 10, the Detroit News: “… Reports that it could be as high as $10,000, which is about three times what union members received for ratifying the last national contract in 2007 are being described as too high.
  • CNN Investigation Reveals Congressional Staffers Received $6.1 Million In Bonuses

    06/27/2011 7:23:13 AM PDT · by freespirited · 8 replies
    Mediaite ^ | 06/27/11 | Matt Schneider
    Despite all the talk of belt-tightening in Washington, CNN’s Lisa Desjardins dug through many Congressional expense reports and discovered up to $6.1 million was paid out in bonuses to Congressional staff members during the beginning of the year, at the height of talks about a potential government shutdown.In the expense statements, bonuses are included within the broadly defined category of “other compensation.” After confirming with various offices, Desjardins reports the amount of bonuses handed out by Republicans in the time period was $908,000 and for Democrats it was $3.1 million in bonuses, while the remaining amount was awarded by Congressional...
  • Obamanomics: Only fat cats prosper

    12/07/2010 2:22:45 AM PST · by Scanian · 11 replies
    NY Post ^ | December 6, 2010 | Charles Gasparino
    For all of President Obama's rhetoric about "fat cat" investment bankers who gambled the country into economic decay, he sure seems to have a larger soft spot for big Wall Street than for average Americans. After all, his latest push to "remedy" 9.8 percent unemployment for the masses is an extension of unemployment benefits. Meanwhile, his policies aren't just making Wall Streeters rich, as bonuses are expected to hit record highs this year. They're also likely This divergence ought to be a big story -- but don't bet on it: The establishment media have been largely silent amid the multiple...
  • Wall Street $hortfalls slam banker bonuses (Will The Kenyan bail them out again?)

    10/15/2010 5:04:54 AM PDT · by jimbo123 · 7 replies
    NY Post ^ | 10/15/10 | MARK DeCAMBRE
    Wall Street bankers may want to hold off on those yachts, yellow Lamborghinis or Manhattan pied-a-terres, based on emerging bonus projections. Bonuses, which firms pay to attract and retain key talent, may be down by as much as 25 percent this year throughout the industry, according to analysts and market participants. Many of Wall Street's wheelers and dealers will see their total compensation, including salary, drop by as much as 20 percent, according to Wall Street recruiting specialist Options Group. Michael Karp, the group's president, said bankers will likely take it on the chin after Wall Street's revenue-generating engine slowed...
  • Bankers Say Government Backing of Mortgages Essential

    08/23/2010 4:32:38 PM PDT · by John Semmens · 7 replies
    A Semi-News/Semi-Satire from AzConservative ^ | 21 August 2010 | John Semmens
    High ranking members of the banking industry met with the Obama Administration to urge it to “keep the spigots flowing” by continuing to pour federal money into financial markets. “Access to the federal treasury is crucial,” said a spokesman for the industry insisting on anonymity. “We’ve got a sh*tload of bad debt on our hands. Without government money our stock value goes in the toilet and we can kiss our million dollar bonuses goodbye. So, I think you can see why we’re highly incentivized to press for continued aid on this issue.”
  • Post office plans to announce new rate increase

    07/06/2010 5:37:13 AM PDT · by Zakeet · 70 replies · 2+ views
    Associated Press ^ | July 6, 2010 | Randolph E. Schmid
    Battered by massive losses, the Postal Service wants to raise rates to bring in more money. Postal officials scheduled a briefing Tuesday to discuss the amount of the increase, which will go to the independent Postal Regulatory Commission for review. The boost comes as no surprise. Postmaster General John Potter said March 2 that a rate increase would be necessary for the agency, which does not receive tax funds for its operations. The current 44-cent first-class rate took effect May 11, 2009. While that change will be the most visible, rates for other types of mail will also go...
  • BonusGate? 'If You're Mad at Wall Street Look at Some of These Regulators'

    03/18/2010 11:46:50 AM PDT · by 198ml · 2 replies · 275+ views
    Newsbusters ^ | 03/18/10 | Anthony Kang
    The liberal media's favorite targets - Wall Street "fat cats" - have endured a firestorm of outrage and attack over bonuses since the financial meltdown. As some, like CNBC contributor Rick Santelli pointed out however, part of the screaming is the result of it is Obama and the White House whipping up political outrage. Now we'll have a chance to see if it's also selective outrage. Fox Business anchor Eric Bolling uncovered embarrassing and questionable bonuses being received by those charged with keeping an eye on banks - government regulators. But who watches the watchers? Bolling told FNC's "Happening Now"...
  • NBC's Rehema Ellis Accidentally Explains Supply-Side Economics

    03/12/2010 6:50:19 PM PST · by Halfmanhalfamazing · 13 replies · 1,995+ views
    Rush ^ | March 11th | NBC via Rush
    RUSH: An NBC reporter actually stumbled upon an economic truth. It was an accident. It wasn't intentional, but still the NBC reporter got it right. Andrea Mitchell was talking to the correspondent Rehema Ellis about schools closing in Kansas City and elsewhere because of budget shortfalls, and Andrea Mitchell, NBC News, Washington, said, "This is not just Kansas City. This is the most drastic case we've seen so far, but this is a ripple effect we're seeing from the recession. What is going to happen to the students there and elsewhere across the country?" ELLIS: It's simple, too, Andrea, you...
  • (Obama and Giannoulias) Banking on Corruption In The Windy City

    03/09/2010 4:34:10 PM PST · by raptor22 · 3 replies · 571+ views
    Investor's Business Daily ^ | March 9, 2009 | Investor's Business Daily staff
    Politics: Another bank failure is nothing new these days — except if the bank is run by the family of a U.S. Senate candidate who profited handsomely and lent millions to a convicted felon. But then, that's the Chicago way. 'I did not run for office to be helping out a bunch of fat-cat bankers on Wall Street," President Obama said in a recent interview with "60 Minutes." Speaking to those bankers, he said: "You guys are drawing down 10, 20 million dollar bonuses after America went through the worst economic year that it's gone through in — in decades,...
  • Obama's 'lemon socialism'

    03/05/2010 4:27:40 AM PST · by ICAB9USA · 7 replies · 452+ views
    Tribune Review ^ | 2/22/2010 | Ralph R. Reiland
    Paul Krugman, a top columnist and liberal opinion-maker at The New York Times, sounded last week like he was tied to the tracks and saw a train coming around the bend. "We're doomed," he cried. "Oh. My. God." The melodramatic periods after each of the aforementioned words are Krugman's punctuation, conveying a picture of himself in a disastrous and rapidly developing meltdown at his keyboard. His problem was that President Obama failed to be sufficiently anti-rich, anti-Wall Street, anti-bonus and anti-banker in a recent interview with Bloomberg/BusinessWeek. Here was the interview question to Obama about the CEO bonuses coming at...
  • Wall Street's Bailout Hustle

    02/22/2010 11:28:19 AM PST · by ventanax5 · 5 replies · 445+ views
    Rolling Stone ^ | Matt Taibbi
    On January 21st, Lloyd Blankfein left a peculiar voicemail message on the work phones of his employees at Goldman Sachs. Fast becoming America's pre-eminent Marvel Comics supervillain, the CEO used the call to deploy his secret weapon: a pair of giant, nuclear-powered testicles. In his message, Blankfein addressed his plan to pay out gigantic year-end bonuses amid widespread controversy over Goldman's role in precipitating the global financial crisis. The bank had already set aside a tidy $16.2 billion for salaries and bonuses -- meaning that Goldman employees were each set to take home an average of $498,246, a number roughly...
  • The Fat Cats in DC

    02/16/2010 5:47:16 AM PST · by OneVike · 9 replies · 315+ views
    Enterprise Record Post Scripts | 2/16/10 | Tina Grazier
    When President Obama was asked last week about the $17 million bonus awarded to JPMorgan Chase Chief Executive Officer Jamie Dimon and the $9 million bonus for Goldman Sachs CEO Lloyd Blankfein he responded by saying, Hmmm...that doesn't jibe with what he said last December on 60 Minutes: "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street." And it doesn't jibe with the message delivered to banks by Barney Frank, Chairman of the House Ways and Means Committee, in January of 2009: "People really hate you, and they're starting...
  • Obama Becoming The Anti-Glamour President

    02/11/2010 8:47:16 AM PST · by Slyscribe · 11 replies · 982+ views
    IBD's Capital Hill ^ | 2/11/2010 | Ed Carson
    Barack Obama swept into the Oval Office as a human green screen. Voters projected their own hopes and dreams onto him. He had glamour, observers gushed. But glamour used to mean an actual magic spell, as my former boss Virginia Postrel wrote during the 2008 campaign. She noted fans’ mystical bond with the mysterious candidate: Obama is unusual, however. He attracts supporters who not only disagree with his stated positions but assume he does too.
  • Krugman AND Obama are Clueless

    02/11/2010 8:12:55 AM PST · by Neoavatara · 5 replies · 339+ views
    Neoavatara ^ | February 11, 2010 | Neoavatara
    I love Paul Krugman. He is the liberal that keeps on giving. My self proclaimed 'dumbest Nobel Laureate ever' comes through once again.
  • Obama's Wall Street Tune Falls Flat

    02/11/2010 7:15:13 AM PST · by CaroleL · 2 replies · 232+ views
    TalkingSides.com ^ | 02/11/10 | CaroleL
    Ever hear someone who is tone deaf try to sing? It's cringe-inducing to listen as their voice slides up and down missing the true notes entirely. But as they massacre the tune they are shooting for, their voice remains amazingly loud. It's as if they believe by sheer volume they can convince the audience of their own delusion - that they have hit each note perfectly and should be lavishly praised for their exceptional singing prowess. Speaking of being tone deaf, President Obama has been singing a lot about Wall Street lately.
  • Obama: Bonuses Earned by Some

    02/10/2010 6:15:57 PM PST · by Britt0n · 12 replies · 293+ views
    Chicago Tribune ^ | February 10, 2010 | Mark Silva
    President Barack Obama and others around the White House have had plenty to say about the bonuses which executives at bailed out Wall Street firms have collected, but there are some that the president doesn't "begrudge''' -- such as the $17 million awarded to JPMorgan Chase & Co. CEO Jamie Dimon or $9 million for Goldman Sachs CEO Lloyd Blankfein. Some athletes take home more pay than others, Obama says. In an interview iwith Bloomberg BusinessWeek, the president allowed that $17 million is "an extraordinary amount of money" from the perspective of Main Street. "There are some baseball players who...
  • Flashback: Obama Says Bonuses Are Violation Of "Our Fundamental Values"

    02/10/2010 3:30:48 PM PST · by Nachum · 25 replies · 344+ views
    RealClearPolitics.com ^ | 2/10/10 | staff
    In March 2009, President Obama called the AIG bonuses an "outrage."
  • Outrageous: AIG pay $100m in bonuses London-based unit that pushed insurer to brink collapse

    02/04/2010 11:16:52 AM PST · by opentalk · 21 replies · 572+ views
    Daily Mail UK ^ | 04th February 2010 | Mail Foreign Service
    Bailed-out insurance giant AIG last night risked another wave of public disgust at the financial industry by awarding 'outrageous' bonuses worth more than £62million to executives in London and the U.S. The payouts were sent out to staff in the same department - the financial products division - that was blamed for almost driving one of the world's largest firms out of business during the credit crunch in 2008. American taxpayers funded a £113billion bail out of AIG after the company was deemed 'too big to fail'. As President Barack Obama tries to cut his country's £1trillion budget deficit, Treasury...
  • Geithner: New bank fee would recoup AIG bonuses

    02/03/2010 1:04:29 PM PST · by NormsRevenge · 40 replies · 1,720+ views
    AP on Yahoo ^ | 2/3/10 | AP
    WASHINGTON (AP) -- Treasury Secretary Tim Geithner (GYT'-nur) says Congress can recoup "outrageous" bonuses for AIG employees through a new bank fee in President Barack Obama's proposed budget. American International Group Inc. is set to pay out about $100 million in a fresh round of bonuses to employees. Geithner called the bonuses, which were negotiated years ago, an "outrageous failure of policy."
  • Liberal 'Evangelical Christian' Rips Banks on MSNBC; Calls Bonuses 'Sins of Biblical Proportions'

    01/21/2010 10:34:17 AM PST · by Rufus2007 · 29 replies · 631+ views
    NewsBusters ^ | January 21, 2010 | Jeff Poor
    When you breach the sacrosanct wall between church and state, and use religion to promote policy, bad things happen. At least, that's what the left has been telling us for years. But Rev. Jim Wallis, editor-in-chief of Sojourners magazine and author of "Rediscovering Values: On Wall Street, Main Street and Your Street," sees it differently. Wallis used his interpretation of religion, particularly the Bible, to play the populist card and categorize portions of the American private sector as greedy on MSNBC's Jan. 21 "Morning Joe." "These bank bonuses, I would say, are a sin of Biblical proportions," Wallis said. "But...
  • Goldmans to tell staff: give to charity

    01/16/2010 9:24:12 PM PST · by Cheap_Hessian · 2 replies · 340+ views
    Telegraph (UK) ^ | January 16, 2010 | James Quinn
    Goldman Sachs will top a list of Wall Street giants delivering a combined profit of almost $25bn (£15.3bn) in their full-year results out this week. The announcements will come as Goldman is considering mandating senior bankers to donate a small portion of their earnings to charity in an attempt to deflect the ensuing row expected over the size of its bonus payments. Analysts expect the bank to say on Thursday that it has produced profits of $11bn (£6.8bn). Citibank and Bank of America are both likely to deliver profits of at least $6bn, while Morgan Stanley will reveal a much...
  • Kneale: The Real Numbers on Wall Street Pay

    01/16/2010 5:39:08 PM PST · by CutePuppy · 8 replies · 488+ views
    CNBC ^ | January 15, 2010 | Dennis Kneale
    Can we all just get along? President Obama says he's fed up with "obscene bonuses" on Wall Street. The Congress is in an uproar. And new numbers from the front page of The Wall Street Journal today are stoking this mob mentality to feverish proportions. Yet the actual metrics in the Journal story raise a key question: What’s all the screaming about? Wall Street’s total compensation simply isn’t out of control. And the pay critics, in their pious, get-tough crackdown, are only ensuring a new round of outrage when some of these banks recover. First, some key numbers (rounded up)...
  • Bashing Bankers Is a Political Duty

    01/12/2010 6:32:47 PM PST · by GOP_Lady · 2 replies · 227+ views
    The Wall Street Journal ^ | 01-12-10 | HOLMAN W. JENKINS, JR
    But don't overlook the fact that taxpayers are making out on the bailout too. If you would know why bankers are enjoying a large and controversial deluge of annual bonuses, look no further than the monthly report of the New York State Comptroller's Office. The economy may be in the dumps, but Wall Street enjoyed record profits of $50 billion in the first nine months of last year—"nearly two and a half times the previous annual peak in 2000." "Profitability," adds the state of New York, "has soared because revenues rose while the costs of doing business—particularly interest costs—declined" (in...
  • Feds Ban Wall St. Bonuses but D.C. Hands Out Hefty One

    12/14/2009 10:29:37 AM PST · by Welshman007 · 288+ views
    Columbia Conservative Examiner ^ | 12/14/09 | Anthony G. Martin
    Even as the Feds sanctimoniously ban Wall Street executives from receiving end-of-the-year bonuses, the government of D.C. rewarded its employees with a hefty one...to the tune of $15 million bucks. And for what? D.C. is one of the most mismanaged metro areas in the nation, squandering untold millions of dollars each year, even spending itself into oblivion during a recession. That was not enough, however, to prevent D.C. from rewarding its incompetent employees with millions in taxpayer-provided loot.
  • UK: Ministry of Defence officials paid £47 million in bonuses

    11/11/2009 2:43:57 PM PST · by knighthawk · 2 replies · 196+ views
    UK Telegraph ^ | November 11 2009 | Rebecca Lefort and James Kirkup
    Civil servants at the Ministry of Defence have been paid £47 million in performance bonuses this year, it can be disclosed. The figure, which covers just the first seven months of the current financial year, has been revealed as the Government faces charges of failing to provide British troops with adequate support and equipment on the front line in Afghanistan. Additional bonus payments for the rest of year could take the total above the £53 million paid out to MoD officials in 2008/09.
  • Bailouts For Bonuses

    11/06/2009 7:25:01 AM PST · by blam · 166+ views
    Minyanville ^ | 11-6-2009 | Kevin Depew
    Bailouts For Bonuses Kevin Depew Nov 06, 2009 7:55 am As the year comes to a close, Wall Street is setting up for another record year of bonuses which will be financed by bailout money. Kevin Depew debates the hot button issue on the latest Two Ways to Play.[snip]
  • MaxKeiser.com Sounding the Alarm

    10/24/2009 8:03:57 AM PDT · by Basilides · 5 replies · 567+ views
    maxkeiser.com ^ | 10-23-09 | Max Keiser
    Over the past few weeks, Max has been on France 24 warning that these big banks will announce new and huge losses . . . but only AFTER their Christmas bonus checks have been cashed. Get ready for second round of trillion dollar bailouts sometime in January/February.
  • Inequality good says Goldman chief echoing Gordon Gecko-defends huge bank bonuses

    10/21/2009 10:24:16 PM PDT · by oioiman · 53 replies · 2,780+ views
    Mail Online - UK ^ | 10/22/09 | Rupert Steiner
    The vice-chairman of Goldman Sachs has launched an astonishing defence of bumper bonuses just a year after bankers brought the world's economy to the brink of collapse. In a speech likely to recall fictional banker Gordon Gekko in the film Wall Street - whose mantra 'greed is good' came to sum up the excesses of the 1980s - Lord Griffiths claimed taxpayers should 'tolerate the inequality'. And he insisted that banks should not be ashamed of rewarding staff. Lord Griffiths (left) has echoed the 'Greed is good' maxim by Gordon Gekko, played by MIchael Douglas in the film Wall Street,...
  • Bonuses Put Goldman in Public Relations Bind

    10/16/2009 1:42:51 PM PDT · by NormsRevenge · 28 replies · 636+ views
    NYT on Yahoo Finance ^ | 10/16/09 | Graham Bowley
    A celebrated Goldman Sachs partner, Gus Levy, coined the maxim that long defined the bank, the savviest and most influential firm on Wall Street: “Greedy, but long-term greedy.” But these days that old dictum is being truncated to just “greedy” by some Goldman critics. While many ordinary Americans are still waiting for an economic recovery, Goldman and its employees are enjoying one of the richest periods in the bank’s 140-year history. Goldman executives are perplexed by the resentment directed at their bank and contend the criticism is unjustified. But they find themselves in the uncomfortable position of defending Goldman’s blowout...
  • G20 agrees next steps on bonuses, post-crisis blueprint

    09/05/2009 1:13:44 PM PDT · by NormsRevenge · 2 replies · 272+ views
    AFP on Yahoo ^ | 9/5/09 | Katherine Haddon and Guy Jackson
    LONDON (AFP) – The G20 vowed Saturday to maintain emergency measures to fight the world economic crisis, warning it was not over yet, while tensions between Europe and the United States remained over bankers' bonuses. After a meeting in London preparing for a leaders' summit later this month, finance ministers said they agreed fresh measures to keep the world economy on the right track, a year after it teetered on the brink of collapse. But they warned there was no room for complacency. "We remain cautious about the outlook for growth and jobs," the ministers said in a communique. "We...
  • THE INFINITE ARM OF O'S 'PAY CZAR'

    08/19/2009 2:52:34 AM PDT · by Scanian · 5 replies · 641+ views
    NY Post ^ | August 19, 2009 | Michelle Malkin
    'PAY Czar' Kenneth Feinberg's official government title is "special master for compensation." You'll be happy to know that he's really getting into the confiscatory spirit of his role. Asked by Reuters if his powers include reaching back and revoking bonuses awarded to financial-industry executives before his office was created this year, Feinberg asserted broad and binding authorities -- including the ability to "claw back" money already paid out. Regulations governing his office explicitly limit his jurisdiction over contracts signed before Feb. 11, 2009. But the fine print is no obstacle to President Obama's czars. "The statute provides these guideposts, but...
  • Dodd Man Out?

    07/29/2009 5:38:53 PM PDT · by Kaslin · 26 replies · 2,247+ views
    IBD Editorials ^ | July 29, 2009 | INVESTORS BUSINESS DAILY Staff
    Corruption: Chris Dodd's teetering re-election chances weren't helped by news that the senator may have lied about not knowing he got preferential treatment as one of Countrywide Financial's Friends of Angelo program.Can you foreclose on a house of cards? Dodd, D-Conn., may soon find out after the official who handled his mortgages testified before both the House Government Reform and Oversight Committee and the Senate Ethics Committee that Dodd did in fact know he got sweetheart deals from a company that went on to lose billions of dollars on home loans to credit-strapped borrowers. As the No. 1 recipient of...
  • Russian President may push 'new world currency'...

    06/02/2009 10:40:25 AM PDT · by Dubya-M-DeesWent2SyriaStupid! · 61 replies · 1,566+ views
    Drudgereport .com Headline ^ | June 2, 2009 | Drudgereport .com
    Russian President may push 'new world currency'
  • Robert Gibbs Moment o' the Day: Goldman Sachs Bonuses

    04/14/2009 3:38:32 PM PDT · by bloodmeridian · 5 replies · 510+ views
    Feed Your ADHD ^ | 4/14/2009 | Dr. Dave
    A video series on b. Hussein's rumbling, bumbling, fumbling, stumbling Press Secretary Robert "Ahhhhh" Gibbs.... Asked about Goldman Sachs' plan, since they beat Street earning expectations last quarter, to set aside money for executive bonuses, Gibbsy deftly stumbles through....ahhh....the president's well-known viewpoint on....ahhhh....executive compensation for TARP recipients:
  • Where it Goes - Caviar Alert

    04/14/2009 12:16:39 PM PDT · by CreviceTool · 3 replies · 399+ views
    New York Social Diary ^ | April 13, 2009 | Alexandra Lebenthal
    Excerpt: So when all the talk started about giving back bonuses, they would have laughed were it not so horrifying. That money was already spent! Were they supposed to go back to all the charities, or their landscaper, or the kids’ schools and ask for the money back? They wondered if anyone had stopped to think about all the people that their money touched, and how many other people were like them.
  • Selective Liberal Outrage: Fannie's $210 Million In Bonuses A-OK

    04/11/2009 3:15:52 PM PDT · by Michael Eden · 15 replies · 639+ views
    Start Thinking Right ^ | April 11, 2009 | Michael Eden
    Boy, do you remember all the meltdown over the $165 million AIG bonuses? Remember all the Democrats climbing all over each other to win the coveted title of "most outraged"? Remember how they passed that unconstitutional law to specifically target the AIG employees receiving bonuses by singling them out to punish them with a 90% tax? Remember Barney Frank claiming on the floor of the House of Representatives that Republicans who opposed this completely unconstitutional Bill of Attainder somehow suffered from a "psychological disorder"? The funny thing was that Democrats - who came so unglued over the AIG bonuses -...
  • Good Times for Fannie and Freddie!

    04/06/2009 11:35:50 PM PDT · by TWP guy · 5 replies · 579+ views
    The American Sentinel ^ | 04/05/09 | Typical White Person
    It has been tough on Fannie and Freddie. They've lost so much money (-$50 billion in 2008, more than the $42 billion they made in total from 1971-2006) that some of their top talent might be getting nervous and would consider leaving. Never fear. Bonuses are here! Ce~lebrate good times, come on! . . . it's a celebration.
  • Big Bonuses at Fannie and Freddie Draw Fire

    04/04/2009 11:10:37 PM PDT · by Nachum · 11 replies · 957+ views
    NYT ^ | 4/3/09 | CHARLES DUHIGG
    Fannie Mae and Freddie Mac, the two troubled companies at the heart of the nation’s mortgage market, are set to pay their employees “retention bonuses” totaling $210 million, despite calls from lawmakers to cancel the payments.
  • Lawmakers Have Long Rewarded Their Aides With Bonuses

    04/03/2009 4:52:14 AM PDT · by MattAMatt · 6 replies · 496+ views
    WSJ ^ | 4/01/2009 | BRODY MULLINS and LOUISE RADNOFSKY
    Last year alone, more than 200 House lawmakers, both Republicans and Democrats, awarded bonuses totaling $9.1 million to more than 2,000 staff members, according to a Wall Street Journal analysis of office-disbursement forms. The money comes out of taxpayer-funded office budgets, and is surplus cash that would otherwise be forfeited if not spent.
  • Dodd Falls Way Behind As Approval Drops To Lowest Ever, Voters Angry At AIG Bonuses & Blame Dodd

    04/02/2009 11:18:18 AM PDT · by lewisglad · 29 replies · 1,162+ views
    April 2, 2009 - Dodd Falls Way Behind As Approval Drops To Lowest Ever, Quinnipiac University Poll Finds; Voters Are Angry At AIG Bonuses And Blame Dodd Word format Connecticut Sen. Christopher Dodd trails former U.S. Rep. Rob Simmons, a possible Republican challenger, 50 - 34 percent in the 2010 Senate race, according to a Quinnipiac University poll released today, as voters disapprove 58 - 33 percent of the job the Democratic incumbent is doing, his lowest approval rating ever. Matched against two other possible Republican challengers, Sen. Dodd trails both State Sen. Sam Caligiuri 41 - 37 percent and...
  • Lawmakers Gave Out $9.1M Taxpayer Dollars in Bonuses to Their Staffs in 2008

    04/01/2009 5:59:36 AM PDT · by Sopater · 4 replies · 456+ views
    Fox News ^ | Wednesday, April 01, 2009
    WASHINGTON -- While Congress has been flaying companies for giving out bonuses while on the government dole, lawmakers have a longstanding tradition of rewarding their own employees with extra cash -- also courtesy of taxpayers, the Wall Street Journal reported. Capitol Hill bonuses in 2008 were among the highest in years, according to LegiStorm, an organization that tracks payroll data. The average House aide earned 17 percent more in the fourth quarter of the year, when the bonuses were paid, than in previous quarters, according to the data. That was the highest jump in the eight years LegiStorm has compiled...