It’s nice to see a CEO taking some responsibility instead of either A. going on expensive retreats, B. blaming someone else, or C. laying off all their employees:
Embedded video from CNN Video
Um, ok… I imagine we are going to start seeing more stuff like this as the credit crisis gets worse, no?
In a stinging note of support for the laid off workers that have taken up residency in Chicago’s Republic Windows & Doors factory, the Governor of Illinois has suspended business with Bank of America until [...]
Yep, it just keeps getting better, doesn’t it?
American International Group, the insurer getting a $152 billion federal bailout, in a regulatory filing late on Tuesday disclosed it would pay roughly $3 million to several executives under deferred compensation plans that are being terminated. IG last week said the monies being paid under the deferred [...]
So they need to shell out a half of a billion dollars to keep employees (who should have been fired long ago) while continuing to ask for and take even more money from us, the taxpayers. This, of course, in addition to the fact that they continue to take expensive business trips to resorts:
American International [...]
Seems someone has some cajones to jump right in and look for some accountability over there on Wall Street. Granted, they have not launched a formal investigation as of yet, but as soon as they realize that the CEO’s of these banks are not going to willingly participate, I am sure a thorough investigation [...]
Want a piece of the pie? Got a spare hand to use? Stick it out, what are you waiting for?
Insurers, automakers and American subsidiaries of foreign banks all want the Treasury Department to cut them a piece of the largest government rescue in U.S. history.
The Treasury is considering requests from a variety of [...]
Ouch. Does anything more need to be said other than Ouch?
The troubled insurance giant American International Group already has consumed three-quarters of a federal $123 billion rescue loan, a little more than a month after the government stepped in to save the company from bankruptcy.
AIG has borrowed $90.3 billion from the Federal Reserve’s credit [...]
Did you know part of that $700 billion bailout plan was for bonuses for these guys? I sure didn’t, and I have not seen it mentioned anywhere in our media, but the Guardian over in the UK seemed to notice:
US congressman Dennis Kucinich has called for an inquiry into remuneration proposals at Wall Street’s top [...]
My Two Dollars reader Chris email me this story last night because he knows how much this kind of crap bothers me! Turns out that the $440K spa trip that the AIG executives took after they took our bailout money wasn’t the only giant “screw-you” that they said to us – they also just [...]
I received this comment yesterday on my post about AIG taking $440K of our bailout money and going to the spa:
Earlier today, AIG announced an important policy change – one that we wanted to be sure you knew about.
A short time ago, our Chairman and CEO Ed Liddy said that he has ordered the immediate [...]
October 7, 2008—
Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today.
“Rooms at this resort can cost over $1,000 a [...]
So, let me get this straight. They could not get this $700 billion bailout passed quick enough last week, only to have the Dow do a massive see-saw all day on Monday. Seems the bailout sure is working, right? I mean, they said they needed it done weeks ago or we were all [...]
CNN/Money has a short article up that has three places you could stash your cash where it would be safe in this crazy up and down economy. Mind you, I would not start moving your money out of investment accounts to put it in these places, but if you have cash sitting around that [...]
Just the other day, Green Panda Treehouse wrote up a great post discussing joint accounts, budgeting and married couples. And while I gave her my thoughts on it for her post, it reminded me that I wrote a post in May of 2007 about what we did after we got married. In light [...]
According to a recent Time magazine, you could:
Give each person in the U.S. $2,300
Pay the income tax of every American making less than $500,000
Fully fund the Defense, Treasury, Education, State, Veterans Affairs, and Interior Departments – as well as NASA
Buy gasoline for every car in the U.S. for 16 months
Buy every NFL, NBA, and MLB [...]
