AP: 9 in 10 execs at bailout banks remain on job

AP: 9 in 10 execs at bailout banks remain on job

www.msnbc.msn.com

updated 1 hour, 39 minutes ago

WASHINGTON - They've been bailed out, but not kicked out.

At banks that are receiving federal bailout money nearly nine out of every 10 of the most senior executives from 2006 are still on the job, according to an Associated Press analysis of regulatory and company documents.

The AP's review reveals one of the ironies of the bank bailout: The same executives who were at the controls as the banking system nearly collapsed are the ones the government is counting on to help save it.

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Simply unbelievable!

The guys that were at the helm and created all of this mess are still running the show, according to this article.

9 out of 10 exec's. I'd be willing to bet that the one guy who got let go was given a very nice severance package to "ease" his trauma. Most of these bail out banks are now also asking (and will get) for more funds. No one is being held accountable.

If anyone still has any doubt that the government and big biz take care of themselves first and the people only when they have to, well here is a good example.

Republican, Democrat..it doesn't matter who sits in the White House, they just don't give a damn.

www.msnbc.msn.com
(visit the link for the full news article)

reply to post by wolf241e


It would be unbelievable to me if I actually thought that the government was trying to save the country. I don't think it is "unbelievable" in the slightest because I don't think the government is trying to save the country and they certainly don't care about the citizens.

This is a manufactured funneling of wealth. They just robbed the country blind and they aren't even concerned about how blatant it has become.

I do believe that they want things to collapse further so they can get us to embrace whatever "solution" they have in store for us.

reply to post by Karlhungis


Morning Karl,

Yeah, I guess that makes sense to me. If we, the people, need the government more than ever to help us out, we'll have no choice to embrace what little scraps that they give us.

reply to post by wolf241e


I am just worried about what those scraps are going to consist of. They have forced the entire world into the crapper. We have been gently swirling around the top of the bowl for the last few months but it feels like we are quickly approaching the bottom as the swirling intensifies. I just wonder what the world is going to look like when the flush is complete.

What are you people some how surprised about this. those are the guys who run this country, the banker, corporate puppetmasters. its all about the money, no matter if you are an extreme conservitave or liberal. our polititians are selling us out, giving away our hard earned money, and destroying this country to gain more power.

c,mon guys...the wealthy and elite have to be able to take all the money they can get their hands on...just because they screwed the peons out of their houses, 401ks, jobs, doesn't mean they should lose any money. if fact..they should be rewarded for not causing a complete collapse of the financial system. they are doing everybody a favor... and please, jail is just for the normal people who commit crimes...not the wealthy..what are you crazy? they are above the law and they know it.

The government should try to simulate what would have happened to them without the bailout, failure without consequence is dangerous. Without the bailout many of these banks would have collapsed and they would have lost their jobs, they failed, their policies and strategies failed and they need to make way for someone who might do the job better then them. If they had any honor at all they would fall on their swords, literally. Sadly it's more likely they will give themselves a pay rise because of all the hard work they have been doing trying to find ways to spend all the tax money they now have to work with.

[edit on 27-1-2009 by Jacob08]

Even top executives whose banks made such risky loans they imperiled the economy have been largely spared any threat to their jobs, as Washington pumped billions in taxpayer money into the companies. Less fortunate are more than 100,000 bank employees laid off during a two-year stretch when industry unemployment nearly tripled, bank stocks plummeted and credit dried up.

The bosses stay and the worker bee's go.

Same old, same old.

[edit on 27-1-2009 by wolf241e]