Outragedatwallstreet's Blog

Some movement, not enough

outragedatwallstreet — Thu, 19 Mar 2009 02:37:23 +0000

Some movement in the direction of my first suggestion and the name of this blog since I first wrote about it back in february. Boy, do they work slow. Why did we have to wait until the NEXT company outraged us before action is taken?

AIG maybe the latest, but let’s not forget the Merrill/BOA deal that left you and me holding the bag. There is some movement here as well with a latest judge ruling in favor of taxpayers!

But, let’s not let up. God knows how many others have pulled the same tricks and awarded millions of dollars in bonuses last December instead of January to avoid scrutiny?

Please continue writing your congressman and woman.

AIG can’t justify ‘outrage’ of exec bonuses

outragedatwallstreet — Mon, 16 Mar 2009 16:53:50 +0000

What have you been waiting for Mr. President?

Ask them to return the darn money. It is ours!

Executive pay limits revealed- a good start but

outragedatwallstreet — Wed, 04 Feb 2009 15:53:11 +0000

Finally some movement on the Executive pay and bonuses debacle. Today Key Obama officials reveal executive pay limits.

This was the political headline on most other news organizations as well.

Here is some of the language from the proposal: “Firms that want to pay executives above the $500,000 threshold would have to compensate them with stock that could not be sold or liquidated until they pay back the government funds, the official said. “

This is a good start in addressing future pay and bonuses but I still ask, as I asked in my previous post, pass a law to have any TARP executive that received a bonus, pay it back. See how and where to write your senator to have this law proposed and passed.

These executives would have you believe otherwise, but, the money, we the taxpayers gave them, is all in the same pool. It can go to help small businesses survive, it can be used to help deliquent homeowners take a bit more time to iron out a payment schedule, or any other myriad of options to help the economy. What have some of them decided to do with a big chunk of the TARP money? Pay its executives big fat BONUSES!

Some of the arguments that I am certain are coming straight out of the mouths of these executives is being passed on by the so called ‘compensation experts’: ”Compensation experts in the private sector have warned that such an intrusion into the internal decisions of financial institutions could discourage participation in the rescue program and slow down the financial sector’s recovery. “

This is pure and simple attempted blackmail by the financial industry, I know how they play this game.: we get to play the game by our rules or else, is their mantra. Besides, they are already hoarding the money anyway!

It is your money, Demand they return the bonuses now!

Outraged!

Outraged at Wall Street 18.4 Billion bonuses

outragedatwallstreet — Sun, 01 Feb 2009 23:42:27 +0000

If you are like me, outraged at Wall Street’s 18.4 billion in bonuses for failed executives, then do something about it.

If you have not heard about the 18.4 billion, then read about it at this New York Times article or just google it, it is everywhere, like this NYTimes Opinion column by Maureen Dowd.

Everyone that I talk to is outraged about it, now it is time to do something about it, right here.

Below is a template letter for you to send to your senator.

The links to all 100 senators’ email forms are below as well, so you can just cut and paste and send it to them.

Here is what I sent to my senator, please do the same.

Dear Senator,

I am outraged at the 18.4 billion in bonuses paid to Wall Street executives. Please enact a law to have the executives return the bonuses now! Use the money to fund the unemployment benefits fund.

Signed,

An outraged citizen.

This is the link to the US Senate contact information.

To support this cause, please link to this post on your blog.

Thank you!

Outraged.