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(The Detroit_News)   Two days after Tim Geithner coasts off into a lucrative sunset, a government audit rips Treasury for approving gargantuan compensation for the suits at GM and AIG   (detroitnews.com) divider line 19
    More: Obvious, Treasury Secretary Geithner, Treasury Department, AIG, executive compensation, pay czar, United States Department of the Treasury, financial institutions, restricted stock  
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754 clicks; posted to Politics » on 29 Jan 2013 at 10:34 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-29 10:43:36 AM
Is this the same compensation that was allowed to stand in TARP because the GOP likes the idea of bonuses paid to high-ranking people regardless of performance?
 
2013-01-29 10:55:07 AM
Am I supposed to be outraged about the pay raises in 2012, four years after the financial crash? Aren't these companies doing much, much better now? haven't these execs done a good job turning their companies around? Am I supposed to be angry about a 1%-23% salary increase?
 
2013-01-29 11:06:28 AM
sorry but I am far to outraged over a family getting a few hundred dollars a month to feed themselves to be angered by this.
 
2013-01-29 11:08:26 AM
Not even Fark can get be bothered with this, it's such a none-story.
 
2013-01-29 11:16:44 AM

Mike Chewbacca: Am I supposed to be outraged about the pay raises in 2012, four years after the financial crash? Aren't these companies doing much, much better now? haven't these execs done a good job turning their companies around? Am I supposed to be angry about a 1%-23% salary increase?


I work for Ally Financial.  I am pretty angry about it honestly, since over the past 5 years my cumulative raise was for less than 3 percent, totaling 35 cents an hour extra.  The reason for not receiving even a COL adjustment?  "The economy and TARP."  Meanwhile the execs are giving themselves tens of thousands of dollars a year extra.

fark that, man.
 
2013-01-29 11:19:41 AM

Mike Chewbacca: Not even Fark can get be bothered with this, it's such a none-story.


Spanky_McFarksalot: sorry but I am far to outraged over a family getting a few hundred dollars a month to feed themselves to be angered by this.


Mike Chewbacca: Am I supposed to be outraged about the pay raises in 2012, four years after the financial crash?


Dr Dreidel: Is this the same compensation that was allowed to stand in TARP because the GOP likes the idea of bonuses paid to high-ranking people regardless of performance?


That's four thus far for "it was an outrage before, but it's okay if MY guy gets to stick his snout in the trough."
 
2013-01-29 11:38:17 AM
Well subby except Geithener had no control over this asTFA would tell you had you bothered to read it,  the pay and bonuses had to be reviewed by an appointed Special Master, whose very existance caused howls of outrage on Capitol Hill as you may recall, when she was first proposed.


Still, anyone ever wanting evidence of the spectacular greed and self-involvement that permeates the ranks of the American financial executive class should file a FOIA request for all the correspondence between Treasury and AIG involcing pay and bonuses.   I can't comment on what might be in there but I'd bet the terms sickening and or enlightening might come up as you read it.
 
2013-01-29 11:41:27 AM

Magorn: I can't comment on what might be in there but I'd bet the terms sickening and or enlightening might come up as you read it.


How about "strangely erotic"?
 
2013-01-29 11:52:31 AM

Elandriel: Mike Chewbacca: Am I supposed to be outraged about the pay raises in 2012, four years after the financial crash? Aren't these companies doing much, much better now? haven't these execs done a good job turning their companies around? Am I supposed to be angry about a 1%-23% salary increase?

I work for Ally Financial.  I am pretty angry about it honestly, since over the past 5 years my cumulative raise was for less than 3 percent, totaling 35 cents an hour extra.  The reason for not receiving even a COL adjustment?  "The economy and TARP."  Meanwhile the execs are giving themselves tens of thousands of dollars a year extra.

fark that, man.


THAT is a reason to be angry. I worked at Chase for 11 years. I talked to my old boss a couple months ago, and he didn't get a raise or a bonus in 2012 because "Europe is soft." Peons like me (read: employees making less than $100k) were held to 2% raises, with the same excuse. But Chase made $19 billion, which was a record to them. And they broke that record again last year. I'm going to call my boss in a few weeks (all raises are done in feb) to see what kind of raise he got this year.

But my original point was that it's 4 years after the crash. I don't see the point of screwing over these three companies. Also, they WILL experience a talent drain if they're not compensated well enough. I'm a libtard pinko commie and even I can't get outraged aboit this.
 
2013-01-29 11:52:38 AM
Of course they got their money. It was in THE CONTRACT, and had to be paid!

(fark you and your Pension, Working Man, you have to adjust to the times)
 
2013-01-29 11:55:46 AM

Gulper Eel: Mike Chewbacca: Not even Fark can get be bothered with this, it's such a none-story.

Spanky_McFarksalot: sorry but I am far to outraged over a family getting a few hundred dollars a month to feed themselves to be angered by this.

Mike Chewbacca: Am I supposed to be outraged about the pay raises in 2012, four years after the financial crash?

Dr Dreidel: Is this the same compensation that was allowed to stand in TARP because the GOP likes the idea of bonuses paid to high-ranking people regardless of performance?

That's four thus far for "it was an outrage before, but it's okay if MY guy gets to stick his snout in the trough."


Two of those are me, and none of us said anything even remotely like what you're stating. Your reading comprehension sucks.
 
2013-01-29 12:00:19 PM
This is my surprised face from 2009:

._.

Seriously, everyone involved in this in Obama's cabinet was tapped from the very industry they were supposed to watch. Plus, it's not as if the GOP didn't sweeten the pot several times during the bailout.

It sucked then, it sucks now. Something something Elizabeth Warren something something.
 
2013-01-29 12:14:11 PM

Gulper Eel: hat's four thus far for "it was an outrage before, but it's okay if MY guy gets to stick his snout in the trough."


wow, massive flyover.
 
2013-01-29 12:31:40 PM

Mike Chewbacca: Am I supposed to be outraged about the pay raises in 2012, four years after the financial crash? Aren't these companies doing much, much better now? haven't these execs done a good job turning their companies around? Am I supposed to be angry about a 1%-23% salary increase?


Perhaps not in the context of Treasury or Geithner or politics in general, but in the sense of the overall financial injustice in this country, yes.
 
2013-01-29 12:49:48 PM

Mike Chewbacca: Elandriel: Mike Chewbacca: Am I supposed to be outraged about the pay raises in 2012, four years after the financial crash? Aren't these companies doing much, much better now? haven't these execs done a good job turning their companies around? Am I supposed to be angry about a 1%-23% salary increase?

I work for Ally Financial.  I am pretty angry about it honestly, since over the past 5 years my cumulative raise was for less than 3 percent, totaling 35 cents an hour extra.  The reason for not receiving even a COL adjustment?  "The economy and TARP."  Meanwhile the execs are giving themselves tens of thousands of dollars a year extra.

fark that, man.

THAT is a reason to be angry. I worked at Chase for 11 years. I talked to my old boss a couple months ago, and he didn't get a raise or a bonus in 2012 because "Europe is soft." Peons like me (read: employees making less than $100k) were held to 2% raises, with the same excuse. But Chase made $19 billion, which was a record to them. And they broke that record again last year. I'm going to call my boss in a few weeks (all raises are done in feb) to see what kind of raise he got this year.

But my original point was that it's 4 years after the crash. I don't see the point of screwing over these three companies. Also, they WILL experience a talent drain if they're not compensated well enough. I'm a libtard pinko commie and even I can't get outraged aboit this.


Are we talking about the same talent that got them into these positions?
 
2013-01-29 12:53:35 PM

scanman61: Mike Chewbacca: Elandriel: Mike Chewbacca: Am I supposed to be outraged about the pay raises in 2012, four years after the financial crash? Aren't these companies doing much, much better now? haven't these execs done a good job turning their companies around? Am I supposed to be angry about a 1%-23% salary increase?

I work for Ally Financial.  I am pretty angry about it honestly, since over the past 5 years my cumulative raise was for less than 3 percent, totaling 35 cents an hour extra.  The reason for not receiving even a COL adjustment?  "The economy and TARP."  Meanwhile the execs are giving themselves tens of thousands of dollars a year extra.

fark that, man.

THAT is a reason to be angry. I worked at Chase for 11 years. I talked to my old boss a couple months ago, and he didn't get a raise or a bonus in 2012 because "Europe is soft." Peons like me (read: employees making less than $100k) were held to 2% raises, with the same excuse. But Chase made $19 billion, which was a record to them. And they broke that record again last year. I'm going to call my boss in a few weeks (all raises are done in feb) to see what kind of raise he got this year.

But my original point was that it's 4 years after the crash. I don't see the point of screwing over these three companies. Also, they WILL experience a talent drain if they're not compensated well enough. I'm a libtard pinko commie and even I can't get outraged aboit this.

Are we talking about the same talent that got them into these positions?


That's part of my point. It's four years later, and these people may not have been part of the problem. Also, isn't it pretty well understood that AIG got bamboozled by the derivatives peddlers?
 
2013-01-29 07:33:58 PM

Elandriel: Mike Chewbacca: Am I supposed to be outraged about the pay raises in 2012, four years after the financial crash? Aren't these companies doing much, much better now? haven't these execs done a good job turning their companies around? Am I supposed to be angry about a 1%-23% salary increase?

I work for Ally Financial.  I am pretty angry about it honestly, since over the past 5 years my cumulative raise was for less than 3 percent, totaling 35 cents an hour extra.  The reason for not receiving even a COL adjustment?  "The economy and TARP."  Meanwhile the execs are giving themselves tens of thousands of dollars a year extra.

fark that, man.


I hear you, but blaming Gietner is just stupid.
 
2013-01-29 11:04:32 PM
When are we going stop pretending that government officials are more honest and benevolent than the rest of us and therefore will keep those nasty corporate types from breaking the law?
 
2013-01-29 11:23:24 PM

Mike Chewbacca: Also, isn't it pretty well understood that AIG got bamboozled by the derivatives peddlers?


say what? this AIG? http://www.nbcnews.com/business/economywatch/aig-opts-out-bailout-law s uit-amid-public-vitriol-1B7905602

as a more serious answer to your question AIG was a powerhouse in it's field. to believe that it got taken advantage of by countrywide is ridiculous.
 
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