Monday, September 29, 2008

~Wall Street~

Sorry, I can't help but think the inmates have been in charge of the asylum! Unfortunately, the Wall Street heavies have already pocketed their millions. In 2007 (when they were already in trouble) the executives at Lehman Brothers pocketed $US 5.7 billion (yes, 5.7 billion!!) in bonuses with senior executives including CEO Richard Fuld (sounds suspiciously like Dick Fund) receiving the biggest payments (some sources say as much as $400 million over a few years). These are the same executives who helped send the world into financial meltdown. Why did they even deserve their salaries let alone a bonus?

Even worse, up to 10,000 staff at the New York office of this bankrupt investment bank, will share a bonus pool set aside for them that is worth $2.5 billion by Barclays Bank which is buying the business. It seems they are guaranteed their bonuses again!! Madness!

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