Starting with 11.1 billion set aside for Goldman Sachs. In an earlier article on yahoo finance.
I used to work for Wells--was laid off in 12/08 from a Management position. Part of my compensation was a bonus plan (nothing astounding, believe me) that was tied to performance targets--if we didn't hit them, we got cut back or got ZERO. I am sick of "crusading" Attorney Generals and newspaper articles about the horror of ANY Company paying bonuses when it received TARP money--especially the criticism of Wells. If Wells did not take on Wachovia, the Government and citibank would have went through hell cleaning up the mess. Many divisions of both Wells and Wachovia were successful and met targets--should all of their employees (most of whom are paid BELOW market) be punished for busting their tails and doing their jobs?
On the other hand, I do have a tough time with the fact that various higher officials of both WFC and Wach received bonuses in excess of $1 million--none of those people are struggling to make a living and keep their job. And, while I'm at it--although I do believe strongly that Dick Kovacevich is a highly-talented man, and WFC's success is in part due to his great leadership---it is a bit ridiculous and excessive that he receives the type of compensation package that he has been getting the past 5-7 years.
As one of the people being foreclosed on. I don't have any sympathy for the banks. My problem is not with most employees. My problem is the bonuses are for making and thinking up scams to maximize profits at any cost! Leaving many millions of home owners destitute.
That's hilarious. You posted a link to an interview with G. Edward Griffin? Does he also give his opinion about where Noah's Ark was found? What about his belief that cancer can be cured with Vitamin B17?
A former child actor with opinions on everything. Great source of information.