Saturday, November 1, 2008

tax payers are suckers..

According to Wall Street Journal Financial giants owed their executives more than $40 billion for past years' pay and pensions as of the end of 2007...

$11.8 billion at Goldman Sachs Group Inc., $8.5 billion at J.P. Morgan Chase & Co., and $10 billion to $12 billion at Morgan Stanley.

Considering US gov is injecting money to these big financial companies...


The Treasury is infusing $25 billion apiece into J.P. Morgan and Citigroup as it seeks to get credit flowing. In return, the federal government is getting preferred stock in the banks and warrants to buy common shares. The Treasury is injecting $125 billion into nine big banks and making a like amount available for other other banks that apply.

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