January 20, 2010
Yesterday Citigroup reported its profits (in this case, losses) for the final quarter of 2009. They lost $7.6 billion. That brings them to a total loss of $1.6 billion for 2009. But that’s not stopping them from handing out more mega-bonuses, although they’re still not able to pay all of the TARP funds back, or any of the money “borrowed” from the Federal Reserve.
he Washington Post reports that bank employees will receive an average of $94,000 each and “high-ranking” executives could receive multi-millions in bonuses.
Just how much can one say about these thieving bastards? Common people get fired from their job if they are found irresponsible. Not only do Wall Street bankers not get fired, they continue to get rewarded for loosing the company’s money. But it’s the taxpayers money, so that’s not so bad is it? Naturally, it’s always easier to loose OPM than it is your own money. And it’s easier and much more fun to steal OPM than it is to earn it. Besides, there’s always more where the last train load came from. How great is that?
Never underestimate the difficulty of changing false beliefs [with] facts.
Economist Henry Rosovsky