LegiStorm Part 2 | 2008 a Big Year For Bonuses on Capitol Hill
Balking at big bonuses
As the Wall Street Journal points out: “Congress has been flaying companies for giving out bonuses while on the government dole.” However, according to LegiStorm, the bonuses doled out to Congressional staffers last year were among the highest in years.
Those bonuses are also courtesy of taxpayers.
LegiStorm tells [...]
After Strong Year, Wal-Mart Hands out Bonuses
No economic hardship here
While the Senate haggles over a bill regarding a bonus tax, Wal-Mart is celebrating a profitable year by giving all of its employees bonuses.
The bonus tax bill would only affect companies that get bailout money. Wal-mart is far from needing a bailout. While other retailers lost sales [...]
AIG CEO Edward Liddy Feigns Anger, Distaste Over Bonuses
Edward Liddy and AIG must pay
There will be no peace these days for AIG CEO Edward Liddy. Even if he claims that he shares our rage.
Michael McAuliff and Helen Kennedy report for the New York Daily News that Liddy has told Congress that he’s asked his employees to “give up [...]
Iowa Senator Grassley Suggests AIG Execs Commit Seppuku
“Fall on your sword.”
MSNBC reports that while America’s rage over AIG continues to burn with righteous fury, there is at least one vocal senator who wants to step up the punishment. Senator Charles Grassley of Iowa made the following exclamation regarding AIG executives:
Obviously, maybe they ought to be removed. But [...]
Wall Street to Increase Salaries as Much as 100 Percent
Wall Street just doesn’t get it
President Obama may have spoken out against executive pay raises and exorbitant bonuses, but that doesn’t mean that the mavens of Wall Street aren’t still trying to squeeze the money train for all it’s worth.
Joseph Giannone reports for Reuters that annual salaries for bankers, traders [...]
Officials Demand Details of Bank of America Bonuses
Government wants report
U.S. Rep. Barney Frank on Monday said (see http://abcnews.go.com/Business/Economy/WireStory?id=7040710&page=2) Bank of America Corp. must provide more details on $6.9 billion in bonuses the company paid in 2008. Because the bank got quick loans from the government, officials say it must disclose who got what.
Bank of America accepted large amounts [...]
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