Some Economic Facts From Mother Jones.
Thought I would pass along these little gems first thing this morning, just a “pick-me-up” to start your day with.
In 2007, the top 5 firms paid out $39 billion on bonuses, even as their shareholders lost $74 billion. Those same firms have now received $60 billion in bailout funds.
In December, after just 3 months on the job, Merrill Lynch executive VP Peter Kraus quit with a $25 million parachute. A day earlier, Kraus’ wife paid $36.6 million for a Park Avenue apartment.
In the first 3 quarters of 2008, finance, insurance, and real estate companies spent $343 million on lobbying.
A week after it’s $4 billion bailout, Chrysler spent more than $200,000 for a full-page ad in the Wall Street Journal that read “Thank You America”.
There were a ton more, but really – I only need a few to get my blood boiling. How about you?
You might also like:
- What’s In The Economic Stimulus Package For You Other Than Cash?
- Renters Losing Their Homes Over Mortgage Foreclosures
- Interactive Map of Bailout Recipients.
- Wall Street Using Bailout To Stage A Revolution?
- AIG Wants To Use A Charity Endowment To Pay Bonuses.
Related Websites:
- The Mortgage Crisis and Investments in Real Estate
- Do the Republican, candidiates John McCain and Sarah Palin support the $700 Billion Dollar Corporate bailout?
- AIG results update
