Showing posts with label bankers. Show all posts
Showing posts with label bankers. Show all posts

Saturday, October 18, 2008

This is Maddening

I thought you might find this article interesting. It is about how much money banking executives are continuing to be paid despite their banks' being recipients of bailout money. Here's an interesting nugget from the article:

At one point last week the Morgan Stanley $10.7bn [billion] pay pot for the year to date was greater than the entire stock market value of the business. In effect, staff, on receiving their remuneration, could club together and buy the bank.

Maybe I'm reading this all wrong, but it seems that we the taxpayers are being swindled, big time, worse than what we initially thought.