Friday, January 15, 2010

Record pay for Banks

From the WSJ: Man on man... the next time some one from either party claims they have dealt with banking reform... ask them how.

The top 38 firms on pace to award 145 BILLION DOLLARS in pay for last year, UP 18%.
Obama now is threatening, a 90 BILLION DOLLAR tax on the banks over 10 years. Or the Congressional name "financial crisis responsibility fee" will effect about 50 banks, insurance companies and large broker dealers.

The action by the President is prompted by the deliberate attempt by Dodd to gut financial reform. Hi-jacked by his own corrupt party loyalist, from the insurance capital of the US, Dodd forces Obama to act quickly.

Their revenue estimated at 450 BILLION DOLLARS, a 25% increase from 2007.

These are the very same companies that we all were told were on the verge of insolvency?

I think it's very safe to deduce, given the profits and compensation being paid last year by the very same banks that were on the verge of collapse, this whole banking crisis may well turn out to be a scam... on all of us.