Duude

Wall Street Breakfast: Must-Know News

You're dreaming. Franklin Raines, and every Democrat politician, not to mention every company CEO who has been supportive of the Obama Administration will escape prosecution. Look no further than GE who cooked their books, knowingly dispersed false and misleading info and they only got a $50 million fine from the SEC. They're a $150 billion company while Hank Greenberg was fined $15 million and is no longer a billionaire.


On Aug 07 08:42 AM spald_fr wrote:

> [Greenberg settles SEC charges. Hank Greenberg, former CEO and chairman
> of AIG (seekingalpha.com/symbo...), agreed to pay $15M to
> settle SEC charges accusing him of improper accounting transactions
> between 2000 and 2005.]
>
> Well, this is good news. I guess the SEC will now go back to Franklin
> Raines (who received $90MM in bonuses since 2000) and get some of
> that bonus money back. Maybe Barney Frank, Chris Dodd and Rahm Emmanuel
> will lead the charge for justice.

10 Highest Paid CEOs for 2008: Unbelievable

You have to hand it to Pandit, he sure broke the bank with his compensation as well as the bank's own finances. To be fair, he didn't create the problems at Citi, but has he made the right moves for the company's sake, or defaulted to 'too big to fail' status thus enabling his government backstop? We all know the answer, but he still made 38 million?

Late Payments on Credit Cards Reach Record Levels

I want to chip in my two cents here. I believe the banks offering credit cards are creating some of the default rate themselves. I have stellar credit. Never late and a high FICO score. Recently, Chase took the step to charge me a monthly fee for just having an open account with them. I've never paid such fees. They also tripled my minimum payment. I called them and they whined that they were losing money on my account. I had a 3.99% promotional rate good for as long as the balance was outstanding and I wasn't making additional purchases that they could tag me with a higher rate. They told me they would go back to the old terms if I agreed to double the interest rate I paid. I've had cards for years and never had a company pull this crap on me. Nevertheless, I refused. Clearly, JPM Chase isn't in as great of shape as everyone seems to believe.