homogenik

$33 Billion in Taxpayer Money Subsidized Wall Street Bonuses

You are right for the most part however goldman and jpm didnt need the bailout but were forced into it. I do object to the money from tax payors going to AIG and then goldman then goldman pays huge bonuses. What is upsetting is the bonuses being paid at citi, merrill etc when the firms completley imploded. It is also extremely upsetting that there have been no criminal prosecutions of executives at Lehman, Merrill and Bear Stearns where there may have been alleged cooking of the books. The government needs to determine was there massive accounting fraud at Lehman and these other firms and if so then when will there be indictments of Dick Fuld and its CFO

BofA's State of Denial

Ken lewis should be arrested. His first duty is to his share holders not the american governement. Further more he has lied multiple times about the banks need for capital, it looks like he may also have lied in the paulson, lewis, bernanke he said he said fiasco.

He grossly overpaid for merrill lynch, performed zero due dilligence and lied about it. He is still lying today. Is that what it takes to be a successful ceo in amerca run your company into the ground while beinbg a lying. and while we are on the topic what did he know about the merrill lynch bonuses maybe both lewis and john thain may yet end up sharing a jail cell

On May 06 10:29 AM ralph schauss wrote:

> This whole stress- test business, under the leadership of the FED
> and the Treasury, is being played out in public like in a banana
> republic. The leaks to the press, by design or ineptitude, are truly
> flabbergasting. Last Monday 27th of April, there is a deliberate
> leak thru the WSJ to undermine Ken Lewis for WED 29th - pathetic
> ! Then estimates range from zero, to 60 to 70 to 100 billion and
> then back to USD 10 billion in new capital for BAC - all this being
> watched under the trustworthy eyes of the FED and the Treasury with
> no comment, no stop to a constant rampage of rumours . Here we are
> told by the Grandees of the FED and the Treasury , this is a highly
> serious, respectable and very confidential matter. But every new
> day there is a new leak, one day the Rupert Murdoch's WSJ, then the
> FT in London, then the NY Times - all this depicts a highly shambolic
> and chaotic management by the official Great and Good in Washington.
> Truly amazing, truly shocking for the the credibility of our public
> finance leaders. Sayonara to trust, credibility, and integrity<br/>
>
> Why do Ben and Tim not award a campaign medal of honour to Kern Lewis
> for having dsaved the US financial system from total collapse by
> gracefully doing the salvage of ML and C wide without holding a gun
> to the Fed's Chair ???
>
> Greetings from London UK by Ralph Schauss-
> even the FSA, the Treasury and BoE are dioing a better publich information
> act which is not plyaed out in the SUN , UK's leading rag sheet.

BofA's Capital Needs: More Obfuscation by the Media

you are exactly right in your analysis. The pundits on cnbc are out there everyday waving their pom poms cheerleading these banks but at the end of the day nothing has changed. These banks still need to raise capital either convert preferred sell assets or issue new equity. In the meantime the commercial real estate market is imploding as is the private equity market with all the debt that these geniuses issued as they overpaid for companies at the absolute peak of the market.