Re: POLITICS - Christmas Bailout Bonuses for the Banksters: was Bailout Reader

[Guest guest]

At this point it's worth remembering that Treasury Secretary Henry

son, and Troubled-Assets-Relief-Program (TARP) bailout

administrator Neel Kashkari -- to name just two government figures --

previously worked for Goldman Sachs. We again learn not from the U.S.

media, but from the U.K.:

Goldman Sachs ready to hand out £7bn salary and bonus package... after

its £6bn bail-out

Goldman Sachs is on course to pay its top City bankers

multimillion-pound bonuses - despite asking the U.S. government for an

emergency bail-out.

The struggling Wall Street bank has set aside £7billion for salaries

and 2008 year-end bonuses, it emerged yesterday.

Each of the firm's 443 partners is on course to pocket an average

Christmas bonus of more than £3million.

The size of the pay pool comfortably dwarfs the £6.1billion lifeline

which the U.S. government is throwing to Goldman as part of its

£430billion bail-out.

As Washington pours money into the bank, the cash will immediately be

channelled to Goldman's already well-heeled employees.

Granted, the 7 billion pounds ($11.3 billion) is for bonuses and

salaries. But 443 times £3 million means at least £1.3 billion in

partner bonuses, and this is said to be " a fifth of the firm's total

bonus pool. " Is there any doubt left that these bailout programs are

an all-you-can-swill trough for well-connected bankers?

http://wendymcelroy.com/news.php?extend.2021

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Buffalo too, has beautiful summers but not this year. Cool and rainy.

For the first time in ten years, we never installed the air

conditioners. My line on all this is, somebody better do something

about global warming before I freeze to death. - Ostrowski

" If you're not on somebody's watch list, you're not doing your job " -

Dave Von Kleist