Bailed-Out Bankers Stand To Make Millions In Options

NEW YORK (Reuters) - As shares of bailed-out banks bottomed out earlier this year, stock options were awarded to their top executives, setting them up for millions of dollars in profit as prices rebounded, according to a report released on Wednesday.

Read the whole story: Reuters

Comments

[dmkgge]

10:59 AM on 09/03/2009

Company Boards of Directors approve executive compensation. In the U.S., shareholders approve equity compensation. Board members and voting shareholders deserve more wrath for creating and approving this hyper-compensation culture.

[themodernleader]

01:20 PM on 09/02/2009

We are learning that bailing out failed banks resulting from fraud and swindle only whets the appetite of criminals. These CEOs are realizing that they can do no wrong. Down the road we will see the most heinous financial, economic crimes carried out at the expense of the Americans.
Additionally, executives of other organizations are learning. They will emulate the fraudulent, monopolistic bankers. Soon corruption will extend into every economic and political decision. Such corruption will filter to every function and level of the American Republic. Who will be blamed and deserves the blame? Of course, the Chief Executive Officer of the Republic. He, and only he, can prevent or spread corruption and organizational decline. All his actions are emulated over a period of time.
Rotten leaders create rot. Quality leaders create competence, sterling example, achievement and performance.

[einstein10]

11:36 AM on 09/02/2009

Comments
September 2, 2009
BY ASSOCIATED PRESS
TAMPA, Fla.---- A Florida man born without arms says a Tampa bank would not let him cash a check because he couldn't provide a thumbprint.

Steve Valdez didn't have an account at a Bank of America location in downtown Tampa, where he tried to cash a check from his wife last week. However, Valdez has prosthetic arms and is unable to provide a thumbprint. He says he presented two forms of identification but was still denied.

[studlyguy]

09:42 AM on 09/02/2009

Well the peasants are getting restless,they see billions going to people who do nothing but gamble,and peasants have to scramble too survive on stagnant wages,so too quiet the peasants and keep them preoccupied while we screw them ,throw the swiney fluey fear mongering thingy at them.

[mrcontinental]

09:32 AM on 09/02/2009

Of course they will make millions. Did you expect otherwise?

Keep sending them your money.

[Cheapthrills]

09:29 AM on 09/02/2009

So, why is this news? It is totally expected. Under the stimulus plan, Obama is showing his true colors and his affinity for corporate $$$$. Obama can quickly spend money on bail-outs, wars, and other nations and cannot figure out how to spend on health care. What a pity.

[d45]

12:09 PM on 09/02/2009

Lest we forget... W started it with his $700 Billion dollar handout before he left for Texas...

http://www.nbcwashington.com/news/business/Bush-Bank-Bailout-Overpaid-by-Billions-Study.html

[Sigger]

09:07 AM on 09/02/2009

And the company gets to deduct all those millions as a business expense, even though the company didn't disperse a dime in cash - sweet. Now that's what I call redistribution of wealth.

[schatsie]

06:26 AM on 09/02/2009

What is the definition of INSANITY....IT IS DOING THE SAME think over and over again....Funny though it is working for Wall STREET.....Look at the S&L mess, LTCM. ENRON. Tech Wreck and the latest and greatest bailout...

SO the question is when will THE TAXPAYERS decide it is INSANITY TO KEEP BAILING OUT THE FAT CATS....

SO the question is when will THE TAXPAYERS decide it is INSANITY TO cut the taxes for the have mores to less than we pay and to cut their so called Business Expenses that they pay no taxes on .... After all, it I have to pay all my commuting cost post taxes, then by God they can pay for their Corporate Jets and Golf GAMES and FANCY MEALS POST TAXES....

[PhilipTaylor]

05:29 AM on 09/02/2009

Whenever I see this picture I get ill-gotten bad dreams!

[PhilipTaylor]

05:41 AM on 09/02/2009

It is also a peculiar moral code that says it is okay to traffic in crappy securities, just as long as you don't get stuck with them in your own portfolio when the market finally craters.

[Scent]

03:01 AM on 09/02/2009

Criminals commit crimes.

What else is new?

When is it that we will realize that the money they got and get and will ever get ALL comes from US? They don't care if it is tax dollars or bank accounts. All the care ybout is how they will get what we have.

And in that area no one has been mor successful in the history of the planet.

Making them the most virulent criminals to ever walk the earth.

SEND THEM TO JAIL!

[PhilipTaylor]

05:42 AM on 09/02/2009

Yes and start with the one in the photo above!

[PhilipTaylor]

01:50 AM on 09/02/2009

Vanity Fair said,

"Goldman’s second-quarter net income of $3.4 billion shocked even the most cynical observers, of which there were many, thanks to the firm’s insidious tentacles, which stretch from Wall Street to Washington."

Vanity Fair left out the $13 Billion Blankfein took "under the table" from A1G on a Casino Bet that should NOT have been PAID since it was done with "Manufactured Insider Trading."

PREMEDITATED MANUFACTURED INSIDER TRADING
a. Make a lot of SureFailProduct knowing it will fail
b. Buy Massive A1G CreditDefault Swaps which is Betting the SURE FAIL Products will fail!
Make it to fail and then bet it will fail: "Manufactured-Insider-Trading" 100% sure BET!

[PhilipTaylor]

01:50 AM on 09/02/2009

He also is part of these Illegal activities:

1. MISREPRESENTATION OF HUGH RISK "FAKE RATED" PRODUCTS AS SafeLowRisk "AAA" AND SOLD TO VICTIMS ALL OVER THE WORLD!

2. An Automated G0LDMAN System intercepts real time order messages and insert GS Trades ahead of others trades at lower price so they can capture the BOUNCE from a Big TRADE. NANOSECOND Manipulation of TRADES! They sit back and watch the Interception and Automatic G0LDMAN Order Inserting Software produce NANOSECOND GAINS far greater than probably even G0LDMAN Dreamed of even a couple years ago!

3. Regarding ST0LEN G0LDMAN Market Manipulation Software the, "Bank (GS) has raised possibility there is danger somebody who knew this program could use it to manipulate markets in unfair ways." PROOF by a G0LMAN Representative in a COURT of LAW! NANOSECOND Manipulation of Markets! Perhaps this is ONE of the MOST AMAZING ADM1SS1ON in a C0URT of LAW by a Wall Street Bank!

2 and 3 are Automatic+ILLEGAL and cause America's Markets to be UNINVESTABLE!

These BROKE/BREAK USA LAWS but No prosecution by Justice Department!

[schatsie]

06:28 AM on 09/02/2009

And that is EXACTLY WHY WE NEED TO GET THE tax rates back to 91% like they were under IKE...and start taxing the silly Business Expenses,,,like those funds paid to the call girls on corporate business cards.....

[SarcasticFringehead]

02:07 AM on 09/02/2009

Well, Philip my friend, this is just more proof that the piggies at the top have rigged the game against the rest of us.
Do things every really change?
It seems to me that a tiny elite have always held the winning cards against the majority throughout all of human history. Things have to literally collapse before the unwashed masses get a clue and over throw their masters.
The Mayan empire is an example. The Mayans had to have a complete ecological collapse and economic disaster before the peasantry realized the nobility couldn't control the sun, moon and seasons.
Are we any different?
We keep electing George W. Bush's and Ronald Reagan's to power who let the rich and corporations legally or illegally fleece us like sheep.
And most people don't seem to care.
We get the government we deserve.

[Imago]

03:22 AM on 09/02/2009

So depressing and so true oh, Fringe-headed one!

Sigh.

[PhilipTaylor]

05:30 AM on 09/02/2009

So true! So true!

[PhilipTaylor]

01:38 AM on 09/02/2009

Vanity Fair - Power List

Goldman Sachs CEO Blankfein #1 Power and L00T Grabber!

Topping the list is Goldman Sachs (GS) CEO Lloyd Blankfein. Apparently, the big pay packages that he and his top executive get are not enough to erode his power in the business community.