$700 billion bailout 'sneaky insert allows executives to keep bonuses

Wow, just freaking wow .... You remember how one big part of the $700 billion dollar Wall street bailout was the fact that these idiot executives that ran these companies into the ground had just plain stupid bonuses coming? You remember how everyone bitched and screamed they shouldn't be rewarded (with our money BTW) for such a 'great job'. You remember how Congress specifically said if a financial firm took bailout moeny they had to limits these bonuses?

Well think again .... the Post is reporting that at the last minute the Bush administration INSISTED on one line being inserted into the bill.

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The change stipulated that the penalty would apply only to firms that received bailout funds by selling troubled assets to the government in an auction, which was the way the Treasury Department had said it planned to use the money.

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Now here's the problem, the Treasury changed their minds on how to hand out OUR MONEY (or did they intentionally change they way they handed it out) so now that one line may be snafu and these thieving bastards that drove these companies into hell may in fact STILL get their juicy bonuses, all out of OUR pocket!

Full story here:

http://www.washingtonpost.com/wp-dyn...70.html?sub=AR

DC, Unfortunately, the only surprising thing about it is that you continue to be ... surprised.:rolleyes:

And just to be clear - that is in no way a dig at you. :)

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Originally Posted by -JD-

DC, Unfortunately, the only surprising thing about it is that you continue to be ... surprised.:rolleyes:

And just to be clear - that is in no way a dig at you. :)

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No its way past surprise it's more like shear disgust at this point. I just really wonder IF this is why Paulison 'changed directions' all of a sudden .... if they realized they could get around this 'bailout / no bonus' thing by simply sending out the money in a way that no one could consider and auction.

The raping of America continues