
Citigroup Inc, (NYSE C), Bank of America Corp. (NYSE BAC), and JPMorgan Chase & Co. (NYSE JPM) are the crybabies of Wall Street. They are complaining vigorously to Congress about the tax on their bonuses.
Here's a sample of their complaints: Bank of America's Kenneth Lewis said the tax is "unfair" in a memo to his employees. Citigroup's Vikram Pandit said his bank is "working in every appropriate way with policymakers." Jamie Dimon of JPMorgan held a conference call with executives and said that he is working with lawmakers.
Let's gently remind these guys that Wall Street took this country down with greed and speculation. Throughout this entire mess, they have never stood up and said: "I'm sorry." Instead they just want to go along like nothing happened.
Come on guys its time to take your lumps and stop whining.











Reader Comments (Page 1 of 1)
3-22-2009 @ 7:54PM
blogs11111 said...
They never should have taken any bonuses. If they didn't get the bail out money they would be insolvent, how can an insolvent company afford bonuses? If they had gone through bankruptcy there wouldn't have been bonuses, maybe not even a job. Why are we propping up and bailing out these banks, mortgage companies, and insurance companies? I don't think this is being handled right. Lavish parties, private jets, bonuses, it goes on and on, it's repulsive. Retention bonuses for AIG employess, etc. Where did they think these employees would go if they didn't get a bonus? Did they think any company in their right mind would quickly hire anybody with AIG on their resume? The same for the other bail out banks and auto companies. All these bail outs are going to destroy the dollar. We'll go from deflation to hyper-inflation. The fallout will be just as bad from all the bail outs, why didn't they just allow an unassisted, natural (real) fallout. Better yet why did they deregulate companies without a conscience? This is going to get much worse.
3-23-2009 @ 2:02AM
BHarrison said...
The audacious arrogance of these guys is unconscionable; and they should be "drummed out of the industry".
These men obviously know no shame or embarrassment for having been PAID TENS and HUNDREDS of MILLIONS of dollars while they performed irresponsible and miserable jobs of "managing"/mis-managing" their corporations into financial failure and substantially contributing to the economic melt dowan and downfall of our national economy.
Under these circumstances shouldn't these guys be hiding under any rock that they can find to squirm under? These men represented not only FAILED MANAGEMENT, but CORRUPT FAILED MANAGEMENT . . . they have no place in coporate management. With all legal "hair splitting" set aside, they should have been FIRED, indicted, and prosecuted for "their criminal management" of these corporations.
It is past time to bust up and to dissolve the "good ol' boy club" for corporate management. These people have shown that their only talent is to enrich themselves while they grossly mismanage these corporation into financial ruination . . . The illusion of any "talent" of these individuals has become an obvious facade and sham. These guys are not worth $100K per year . . . hell, they are only worth firing them for misfeasance and mafeasance.
These CEOs have been shown to be like the con man tailor who "made the King's fabulous clothes . . . it was all an illusion; and still is.
Why are these "guys" still even in corproate management? They ARE FAILURES and "con men".
3-23-2009 @ 2:37AM
BHarrison said...
Personally, these men, and the other CEOs like them, have conservatively cost me at least $50K of my original investment money (principle, not paper profits).
These guys are the "Amy Winehouses" of the financial industry . . . why are they even "on stage" during the recovery efforts? They FAILED the corporations and the investors, and the Amerrican people miserably wile they were boosting their personal wealths via the FRAUDS that they orchestrated and perpetuated.
We have a culture of these guys who circulate from corporation to corporation in spite of their REPEATED GROSS FAILURES. They live off of the facade of "name recognition" without regard for the incompetence and "crimnality" of their prior performances.
These "Amy Winehouse" type corporate managment simply need to be purged from our corporate management.
3-23-2009 @ 12:01PM
iap said...
Good reading
http://online.wsj.com/article/SB123776600113009243.html?mod=article-outset-box
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/19/AR2009031903041.html
3-23-2009 @ 8:05PM
Matt in IT said...
I make $250K.
I worked more hours last year than I have in my life towards very key projects to keep the company going. My income was trimmed back 10% last year and my bonus was funded at