Recent Event Highlights: Financial Reform: The Collective Power of Local Government vs. Big Banks - Huffington Post (blog), Landmark overhauls may not help Democrats at polls - The Associated Press, Wall Street critic Frank to shepherd final reform bill - Reuters, Facebook's Privacy Missteps Could Sink the Site - The Big Money, Suddenly, Rating Agencies Don't Look Untouchable - New York Times (blog), Perks unchecked for some Wall Street CEOs - Washington Post, and 119 more...
Created by dipity on Jan 29, 2009
Last updated: 10/29/10 at 10:48 PM
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Financial Reform: The Collective Power of Local Government vs. Big BanksHuffington Post (blog)Members of Congress want to better regulate Wall Street and to take on the fat cats at the big banks, with their golden parachutes and big bonuses, ...
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USA TodayLandmark overhauls may not help Democrats at pollsThe Associated PressLikewise, it may be some time before Obama can point to results from the advancing legislation to rewrite the rules that govern Wall Street. ...For some on Wall St., a small sigh of reliefGlobe and MailReform of Wall St: A need to do moreAsian Ageall 715 news articles »
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Kansas City StarWall Street critic Frank to shepherd final reform billReutersDodd, riding a wave of voter antipathy toward Wall Street bailouts and big bonuses for bankers, pushed his version of Wall street reform through the ...As Reform Takes Shape, Some Relief on Wall StreetNew York Times (blog)Washington reins in Wall Street: What happens next?USA TodayWall Street, White House Admit: Financial Industry Unchanged By Reform BillFiredoglake (blog)Washington Post -The Star-Ledger - NJ.com (blog)all 406 news articles »
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Silicon Valley Job Revival Increases Competition for Tech TalentDatamationWall Street Journal: During the economic downturn, tech companies outside Silicon Valley found it easier to recruit workers. But now that hiring has picked ...Second-Tier Tech Cities Vie with Silicon Valley For EmployeesArea Development Onlineall 6 news articles »
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Facebook's Privacy Missteps Could Sink the SiteThe Big MoneyThe Times reports now that the financial reform bill has cleared the Senate, Wall Street execs are breathing a sigh of relief it wasn't stricter. ...and more »
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Suddenly, Rating Agencies Don't Look UntouchableNew York Times (blog)Maybe it is part of a populist anger over Wall Street bonuses and the banks’ exceptionally strong earnings reports. Whatever the cause, the atmospherics ...and more »
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Perks unchecked for some Wall Street CEOsWashington Post... and benefits they pay their chief executives, despite the glaring spotlight from a public fed up with handsome bonuses at bailed-out Wall Street banks. ...and more »
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Governor Protects Wall Street Bonuses In Killing Small-Business BreakHartford CourantTo make up the revenue lost from the tax cut, the state would have levied a surcharge on bonuses to executives at banks that received federal bailouts from ...and more »
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Los Angeles TimesHamptons again warmed by Wall Street's glowLos Angeles TimesThe bonuses distributed by Wall Street have rebounded sharply — and so has the Hamptons real estate market, with the average home price surging to $1.75 ...and more »
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Globe and MailSenate Vote Signals Historic Change in Wall Street Political CloutHuffington Post (blog)Not that it's time to have a tag day for the "ten million dollar bonus" crowd. And Wall Street's army of lobbyists will do everything they can to weaken the ...Senate Passes Wall Street Regulation BillCBS NewsFactbox: Key Washington players in Wall Street reform fightReutersWall Street reform: Barack Obama celebrates biggest banking shake-up since the ...The GuardianPolitico -New Yorker (blog) -Wall Street Pit (blog)all 3,428 news articles »
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...14 times higher (by 2006); the average worker's salary has essentially been stagnant sine the mid-1980s. (Chart 2) Wall Street bonuses paid to New York City securities industry employees rose by 17% to $20.3 billion in 2009, according to an estimate released in...
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Michael Moore and Dylan Ratigan discuss outrageous Wall Street bonuses. They agree that this has to stop as it is a primary cause of job losses in the US
Cenk Uygur explains how Wall Street bankers are paying themselves huge bonuses with the taxpayers' money.
Full WTEN News Story.... Wish I Could Get Some Of That 17 Percent
Even though the United States economy is weak at the moment, it cannot stop Wall Street from shelling out big bonuses. In 2009, the year of the financial bailout, Wall Street bonuses went up almost 20 percent up from the year before.
As financial firms rebounded last year, Wall Street bonuses for employees in the New York City securities industry went back up by 17% to $20.3 billion in 2009, according to a report released Tuesday by the New York State comptroller. rssbroadcast.com
Les Leopold is the executive director of the Labor Institute and Public Health Institute in New York, and author of The Looting of America: How Wall Street's Game of Fantasy Finance Destroyed Our Jobs, Pensions, and Prosperity—and What We Can Do About It (Chelsea Green, 2009). During the worst year since the Great Depression, with 30 million people out of work or forced into part-time jobs, Wall Street is awarding itself $150 billion in bonus money and it is coming from taxpayer money. That's the equivalent of $2000 for a family of four.
Rep. Capps speaks in favor of the Wall Street Bonus Tax Act (HR 4426), which would impose a 50% tax on the amount of bonus over $50000 at TARP institutions. All of the revenue raised would be used to fund a temporary direct lending program through the Small Business Administration. Rep. Capps is a cosponsor of the legislation. (1/20/10)
snipurl.com I assume their Trojan Horse, the puppet-president would, yet again, raise his chin, strke his famous "I am so serious" Snuppy pose and babble a bit more. But, in fact, The Financial Crime Cartel has become modest. The puppet and his 534 thieves (Congress minus Ron Paul) stole countless trillions from the American people so to devide $145Billion from that loot is not that much. We still eat and breathe, right? Some of us. And if you have no job and no bread? Eat cakes idiots, that's the message from the beloved leader. And do not forget, Obama's military budget for 2011 is going to be BIGGEST EVER as well. I guess, a Peace Nobel Prize Winner is a real peacemaker... yet another $704Billion in open military funding and who knows how much in clandestine funding.
Momentum continued to build Thursday for a tax on excessive Wall Street bonuses as 11 House members held a Capitol Hill press conference to rally for the Wall Street Bonus Tax Act (HR 4426). Introduced by Rep. Peter Welch (D-Vt.) earlier this week and cosponsored by 23 House members, the bill would tax bonuses at firms that have received assistance through the Troubled Asset Relief Program at a rate of 50 percent for all bonus compensation in excess of $50000. Revenues generated through the tax would fund a new direct lending program administered by the Small Business Administration (SBA). Cosponsors of the bill include: Reps. Doggett, McDermott, McGovern, Hinchey, DeFazio, Cohen, Cardoza, Massa, Sutton, Slaughter, Schakowsky, Yarmuth, Hare, Garamendi, Capps, Kildee, Teague, Rothman, Michaud, Courtney, Braley and Kagen. Fifteen months after the American taxpayer threw Wall Street a life preserver, its biggest firms are about to break their own records of lavish, excessive and unearned bonuses. Paid for by hardworking Americans who continue to struggle through tough economic times, these bonuses are Exhibit A that Wall Street has not learned its lesson, said Rep. Peter Welch. When you see a bank being robbed, you try to stop it. My bill will put an end to this breathtaking heist. Were having this press conference early in the morning, because it is time for a wake-up call. With double-digit unemployment in a recession they helped cause, theres no justification for 7 or 8 ...
Brookings experts Douglas Elliott says policymakers might consider an additional fee on banks or a windfall profits tax as a way to incentivize banks to reduce the size of bonuses.
On Imus in the Morning, 1/12/10
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Are you angry at the size of Wall Street bonuses at a time when so many other sectors of the economy are sagging, and so many people are suffering such economic distress? Well, maybe you’re not angry enough.
Perusing the financial pages and government
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The Moderate Voice
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"Bonus" has become a dirty word on Wall Street, prompting image consultants to advise the biggest financial firms to use euphemisms that carry less stigma as the season of lavish payouts approaches.
A look at Goldman Sachs'
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$140 billion dollars in wall street bonuses. This is making the rich richer and the poor poorer. Are you fine with this? Is this true democracy? Let me know when you have had enough. If you have had enough, what are you going to do? Have your voice heard! This means making video/audio vlogs. This means networking as many people getting the information out. This means handing out dvds and posters. This means calling your representatives. This means going to the streets and letting them know your concerns. Links Blue Mass Group (Used in video) www.bluemassgroup.com News Clip on the Bonus forums.wallstreetexaminer.com ED TV Youtube vid www.youtube.com
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The government is finally cracking down on Wall Street's pay practices. Kenneth Feinberg, the pay czar, delivered word that wards of the state—Citi, Bank of America, and AIG, among them—must slash pay for top-earning executives. The Federal Reserve
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Slate
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(Via Heather, crooksandliars.com ) Dylan Ratigan and Michael Moore slam Wall Street for the latest round of bonuses being paid to their executives after being rescued by our tax dollars.
Stocks continue to rise on Wall Street thanks to huge profits from financial juggernauts like AIG, Goldman Sachs and Citi Group. But it is how these big corporations are spending their profits that has the media speculating, again.
Rep. Jim Langevin speaks on excessive Wall Street bonuses
Ok so these assholes are wayyy overpaid-So much proof over the years- So as hardworking Americans what do we do about it- What can we do about it
140 BILLION in BONUSES as record numbers of people are foreclosed on and unemployment climbs. Give us a Break. Forclosures are at RECORD levels, NO INCREASE IN SOCIAL SECURITY -
As Foreclosures Hit All-Time High, Wall Street on Pace to Hand Out Record $140B in Employee Bonuses The Dow Jones Industrial Average has topped 10000 for the first time in a year, as JPMorgan Chase reported massive profits in the third quarter. Meanwhile, the Wall Street Journal is reporting that major US banks and securities firms are on pace to pay their employees about $140 billion this year—a record high. But on Main Street, foreclosures are also at record levels, and the official unemployment rate is expected to top ten percent. We speak to former bank regulator William Black, author of The Best Way to Rob a Bank Is to Own One. [includes rush transcript]
As Foreclosures Hit All-Time High, Wall Street on Pace to Hand Out Record $140B in Employee Bonuses The Dow Jones Industrial Average has topped 10000 for the first time in a year, as JPMorgan Chase reported massive profits in the third quarter. Meanwhile, the Wall Street Journal is reporting that major US banks and securities firms are on pace to pay their employees about $140 billion this year—a record high. But on Main Street, foreclosures are also at record levels, and the official unemployment rate is expected to top ten percent. We speak to former bank regulator William Black, author of The Best Way to Rob a Bank Is to Own One. [includes rush transcript]
As Foreclosures Hit All-Time High, Wall Street on Pace to Hand Out Record $140B in Employee Bonuses The Dow Jones Industrial Average has topped 10000 for the first time in a year, as JPMorgan Chase reported massive profits in the third quarter. Meanwhile, the Wall Street Journal is reporting that major US banks and securities firms are on pace to pay their employees about $140 billion this year—a record high. But on Main Street, foreclosures are also at record levels, and the official unemployment rate is expected to top ten percent. We speak to former bank regulator William Black, author of The Best Way to Rob a Bank Is to Own One. [includes rush transcript]
If you want to hurt the banks- pull all your money out of the banks-NOW
Michael Moore and Dylan Ratigan discuss outrageous Wall Street bonuses on the Today Show Oct. 15. They agree that this has to stop. New bonuses are higher than before last year's economic crash. Copyright MSNBC 2009 Morning Meeting Capitalism a love story JP Morgan AIG Goldman Sachs Geithner Bernanke Paulson Snowe
Barely a year after the Wall Street bailout sparked public outrage and calls for nationalising banks, executives are raking in record-breaking salaries and big banks are posting blockbuster profits. The windfall is evident in the $140bn in salaries that banks and investment houses are paying their executives. Many of those who will benefit work for JP Morgan, whose huge third-quarter profit boom helped push the Dow Jones Average over the coveted 10000 mark for the first time in a year. Meanwhile, ordinary American workers continue to see sharp pay cuts and the worst joblessness in 20 years. John Terrett reports.
Join the Sons of Liberty Academy at Dont-Tread-On.Me "When you are aware, you can prepare." Chris Duane ** Help spread this video rate it, comment on it, favorite it, share it **
MOXNews.com September 14, 2009 C-SPAN
Excerpt
Reuters reporters spoke to people in half a dozen towns and cities across the country at the end of last week -- and while the survey was far from scientific, it left no doubt many people are upset bankers are still pulling in big bonuses while many
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International Business Times
http://www.ibtimes.com/articles/20090908/wall-st-bonuses-spark-outrage-on-main-street-usa.htm
European Finance Ministers on Wednesday agreed to jointly support efforts to bring an end to the excessive bonus culture on Wall Street and the rest of the world's financial sector. The main purpose of the meeting was to agree on a common EU position for the G20 meeting of finance ministers and central bank governors in London on 4-5 September. The policy areas which are currently on the G20 agenda and which may be discussed at the meeting are as follows: the general economic situation, including a discussion of a strategy to ensure stability and sustainability of public finances. Avoidance of future financial crises. This includes measures to strengthen financial market regulation and supervision. Reform of governance and representation in the IMF, the World Bank and regional multilateral development banks and strengthening their resources. The issue of reforming international multilateral lending facilities to assist the very poorest countries in achieving a balanced and long-term recovery. 00:00:00 Title 00:00:05 Arrival of the press conference's participants 00:00:10 SOUNDBITE (English) A Borg, President-in-office of the Council and Swedish Minister for Finances: We are in a difficult state of affairs, we will see a social tension in our societies given that we are still in a very precarious situation in terms of the labour market. In that kind of environment, it is very important that us politicians are given a clear message that the old bonus culture must come to an ...
NY Attorney General Andrew Cuomo released a compensation study that showed how banks that received bailout funds gave out bonuses that far exceeded their profits. CBS News' Kelly Wallace talks with CBSNews.com's Dan Farber about why this happened.
NY Attorney General Andrew Cuomo released a compensation study that showed how banks that received bailout funds gave out bonuses that far exceeded their profits. CBS News' Kelly Wallace talks with CBSNews.com's Dan Farber about why this happened.
Excerpt
SAN FRANCISCO (MarketWatch) -- Just after Labor Day, investment bank executives huddle with their compensation advisers for the all-important bonus discussion. Bonuses are the lifeblood of Wall Street, helping bankers and traders buy expensive homes,
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MarketWatch
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Jackie and Dunlap on Wall Street vs. Main Street, bonuses vs. awards, and Wayne Newton vs. Dog Piddle. www.redstateupdate.com
The panel on Meet the Press of Erin Burnett, Mark Zandi and Steve Forbes responding to the statements made about Wall Street bonuses by President Obama and Clair McCaskill.
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