Tag Archives: bail-out

What is wrong here

X-posted at my class blog.

“Retention bonuses” would seem to be bonuses by any other name.  Obviously, public and political scrutiny is at super high levels as we reel from the financial crisis.

This little nugget caught my eye about a joint venture between Citigroup and Morgan Stanley:

According to the newspaper [The WSJ], not all of the joint venture’s 20,000 brokers would get retention payments. It said a broker who brought in $1 million in revenue last year might expect to get $500,000 to $1 million, depending on how much he continues to produce.

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Filed under Banking, corporate governance, corruption, economics, Government, Political Economy

No blank check for Wall Street.

No blank check for Wall Street.
This is worse than a bad deal – this isn’t a deal at all. This is a blank check to some of the richest companies in the world.

This is a blog post with a petition linked to  it.  I may not agree with all the language, but this is not the time to let the desire for the perfect trump the reality of present action.

We should express our concerns as citizens about the parameters fo this extraordianry action, even if we don’t get to write the legislation.

Krugman on “Cash for Trash.

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Filed under activism, Banking, economics, macroeconomics, policy, Political Economy, Politics, Power, Activism