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Banks not that really well off on their own...bankers bonuses uncalled for in ne


               
2011 Feb 15, 10:37am   4,074 views  14 comments

by American in Japan   follow (1)  

How well are the banks really doing? It seems like new ones are being closed every month... .

http://www.bloomberg.com/news/2011-01-22/colorado-s-united-western-among-four-u-s-banks-closed-down-by-regulators.html

http://www.ajc.com/business/two-more-georgia-banks-828190.html

http://feeds.bignewsnetwork.com/index.php?sid=386474

http://www.signonsandiego.com/news/2011/feb/18/regulators-shut-4-ga-calif-banks/

http://robertreich.org/post/3353591266

http://finance.yahoo.com/news/Regulators-close-small-Ill-apf-2521062342.html

http://finance.yahoo.com/news/5-banks-shuttered-makes-33-apf-3658067076.html

http://finance.yahoo.com/news/Banks-closed-in-Colo-Fla-Ga-apf-453984856.html?x=0

et. al.

Also bankers are getting large bonuses again.

http://finance.fortune.cnn.com/2011/02/01/bofa-chief-gets-free-pass-on-pay/

http://www.time.com/time/magazine/article/0,9171,2043429,00.html?xid=rss-mostpopularle/0,9171,2043429,00.html?xid=rss-mostpopular

Not to mention Goldman Sachs last year:

http://www.businessinsider.com/bonus-watch-2009-goldman-sachs-pays-huge-bonuses-and-gives-junior-bankers-a-50-salary-raise-2010-1

What have they really done for the economy in terms of adding value? It would seem that banks are only doing better (those that are) since 2008 (1) because of the injection on public money and probably just as important (2) the changes in the accounting system allowing banks to consider properties held as worth bubble peak figures instead of "mark to market". What do you all think?

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11   FortWayne   @   2011 Apr 3, 3:10am  

American in Japan says

The dumber thing is all of the millions of Americans who think we have a free market system.

on a certain level it is "free market". It's just not everywhere.

Large corporate monopolies, public unions, corrupt politicians..... all of those deter the free market in many areas.

12   American in Japan   @   2011 Apr 20, 1:33pm  

This story is ou t... there is little punishment for bankers who were a major cause of this mess:

http://finance.yahoo.com/blogs/daily-ticker/another-crisis-coming-long-banks-remain-above-law-153109732.html

13   Vicente   @   2011 Apr 20, 3:34pm  

After the S&L crisis there were over 1,000 convictions!

The lack of convictions in a much bigger disaster is disgusting.

Lady Justice must have been sent to Gitmo.

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