Well Earned Reward

[bad hammy]

Recently announcing his pending retirement and his $53 million retirement package, Bank of America CEO Ken Lewis got to announce and explain how B of A lost $2.2 billion this year.

http://money.cnn.com/2009/10/16/news/co ... 2009101607

[cullman]

Wall Street is a different planet...that lives by a different code.
Frontline: Breaking The Bank: Interviews: Ken Lewis

BofA Shareholders Make $1.5 Billion On Ken Lewis's Retirement (BAC)

cman

[Rye Catcher]

It's America baby! When top level managers fuck up and cost the company big bucks, the board offers them a big bonus to retire and get the hell out. After all, they dont want the poor guy to feel bad. What would his fellow country clubbers think if he just got his incompetent ass booted? His wife would never again be able to show her face in fine society, and we cant have that. I mean $53 million is at best a marginal amount to retire on.

Now stop picking on these fine americans.

[Daisy]

I mean $53 million is at best a marginal amount to retire on.

53 million does not go as far as it used to. Chances are he is feeling hard done by right now.

[kuha]

This kind of stuff is the manure that will ensure the growth of a future generation of [genuine] socialists.

[gh]

YOu wanna talk bonuses? How about Geithner's role in largesse to AIG?

http://www.sfgate.com/cgi-bin/article.c ... 1A5LSN.DTL

[Conor Dary]

Just more of the same.


http://www.rollingstone.com/politics/st ... hine/print

[Vince]

Re: Well Earned Reward

Recently announcing his pending retirement and his $53 million retirement package, Bank of America CEO Ken Lewis got to announce and explain how B of A lost $2.2 billion this year.

http://money.cnn.com/2009/10/16/news/co ... 2009101607

Another little known fact about Lewis, is that he ususally took the entire summer off to clear his mind, which doesn't seem to difficult since there wasn't much floating around inside his skull to clear.

[jazzcyclist]

YOu wanna talk bonuses? How about Geithner's role in largesse to AIG?

http://www.sfgate.com/cgi-bin/article.c ... 1A5LSN.DTL

The appointment of Geithner is Obama's second biggest mistake thus far, IMO. I just don't understand it. It's not like he had some type of personal connection to him. Hell, he didn't even know the guy. The most widely repeated defense of this travesty is that if you don't pay these guys, they'll go and work somewhere else. And I think to myself, "and do what, play in the NBA, become rock stars or take Hollywood by storm?" The only moral difference between these scoundrels and Bernie Madoff is that Madoff didn't follow the legal protocols. You can be sure that the communists laugh at us when they hear these stories.

[cullman]

Link to: PBS Frontline: The Warning

"In The Warning, airing Tuesday, Oct. 20, 2009, at 9 P.M. ET on PBS (check local listings), veteran FRONTLINE producer Michael Kirk (Inside the Meltdown, Breaking the Bank) unearths the hidden history of the nation's worst financial crisis since the Great Depression. At the center of it all he finds Brooksley Born [the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission (CFTC)], who speaks for the first time on television about her failed campaign to regulate the secretive, multitrillion-dollar derivatives market whose crash helped trigger the financial collapse in the fall of 2008."

cman :o]

[gh]

Treasury to limit compensation to bail-out firms execs:

http://news.yahoo.com/s/ap/20091022/ap_ ... N1cnl0b29y

[mcgato]

Huh, I thought only newbies used ungodly long 745 character urls.