Jan 12 2010
January 18 is a week from today.
This is the day when Goldman Sachs officially announces how much loot it’s going to divide between it’s fellow gangmembers.
It’s expected to be in the 20 BILLION dollar range. 20 BILLION dollars. The spoils of crime, divided up in the hideout.
Will Americans just sit back and let this happen?
Will be there any kind of protest there?
If not, why not?
Dec 11 2009
Finally a Representative body, that knows WHO they work for …
Class war breaks out in the U.K.
The Labor government announces a tax on exorbitantly-paid bankers. American populists gnash their teeth in envy
By Andrew Leonard, Dec 9, 2009
Unsurprising headline of the year: “U.S. Probably Will Avoid Matching U.K. 50 percent Bonus Tax.”
Alistair Darling, the U.K. Chancellor of the Exchequer, announced the tax — aimed squarely at overpaid bankers
[…]
From Bloomberg:
“There are some banks who still believe their priority is to pay substantial bonuses,” Darling said in Parliament. “I am giving them a choice. They can use their profits to build up their capital base. If they insist on paying substantial rewards, I am determined to claw money back for the taxpayer.”
Paul Krugman says the move is “entirely reasonable.” Justin Fox asks, “why the heck not?” Felix Salmon says “well done.”
But don’t expect a repeat across the pond.
http://www.salon.com/technolog…
Interesting … maybe the People CAN Fight back?
Jun 01 2009
Usually they get away with …
Usually they trade their knowledge, for money or power, and no one notices —
But not always:
Insider-Trading Ring Bust May Fuel Hedge-Fund Concern
By David Scheer – March 2, 2007
March 2, (Bloomberg) — The U.S. government’s accusations that Morgan Stanley, UBS AG and Bear Stearns Cos. employees were central figures in an insider-trading ring illustrate why regulators and lawmakers are suspicious of Wall Street’s relationship with hedge funds.
Prosecutors in New York and Washington yesterday brought criminal charges against 13 people, claiming that an executive at UBS and a former compliance lawyer at Morgan Stanley tipped off hedge-fund traders and brokers to new analyst ratings and secret takeover talks. Bear Stearns was home to at least four professionals who traded on information leaked from inside the two firms, according to a complaint filed by the Securities and Exchange Commission.
(emphasis added)
http://www.bloomberg.com/apps/…
White Collar Crime, is not any less heinous, because they commit it with a Keyboard, instead of a Handgun. Yet more often than not, in the Wild West of electronic casinos, these criminals can make “a killing”, without having to pull that trigger themselves … without ever having to worry about ever facing their “day in court” …
Sep 26 2008
Well, I’m a little late to the party, but that should be OK.
It seems as if Wall Street is going to get much of what they want in this upcoming bailout bill, but they’re not going to get all of it.
From Handout to Bailout
It looks like our elected officials showed a bit of spine and common sense in taking this from ‘handout’ to bailout and have placed some checks and balances on the handing over of $700 large to the extortionists on Wall Street.
But the key aspect of this situation is that it was still extortion.