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: Crime & FederalismBailout Money Going to Wall Street Bonuses
Full post as published by Crime & Federalism on October 30, 2008 (boomark / email).
Wall Street Bonuses
Wall Street has taken a beating in the press regarding the estimated $18.4 billion in bonuses firms paid out in 2008. Just for the math challenged, $18.4 billion in bonuses amounts to $10 million bonuses for 1,840 people or $1 million bonuses for 18,400 people or $100,000 bonuses for 184,000 people...
Bailout Bust- House Votes Down $700 Billion Wall Street Bailout
Today, Congress rejected the hastily presented and highly pressured Bush-Paulson-Bernanke Bailout Plan that was designed to pump “confidence” into financial markets. The vote on the bill was 228-205...
Crony Capitalism:
One of the many outrageous elements of the bailout is that as far as I can tell, all those Wall Street guys who paid themselves millions of dollars in bonuses for...
Windfall Profits Tax on Wall Street Bonuses
Hartford Courant: State Should Tax Wall Street Windfall Bonuses, by Jeffrey Tebbs (J.D. 2010, Yale)& Ady Barkan (J.D. 2010, Yale): We propose that Connecticut levy a windfall tax of 50% on the cash bonuses received by any executive working for...
Using the Tax Code to Get Back the $18b Wall Street Bonuses
The Daily Kos proposes the use of the Tax Code to retrieve the $18 billion in bonuses paid out by Wall Street firms, which President Obama characterized as "shameful"": Any employee, consultant or officer of any entity that was the...
Pssst Wall Street: Change the Name from Bonuses to “Making Work Pay” Credits
President Obama, widely admired for his willingness and ability to engage in nuanced analysis, painted with pretty broad strokes when he attacked the bonuses recently paid by Wall Street banks: One point I want to make is that all of us are going to have responsibilities to get this economy moving again...
Barney Frank: let's do away with Wall Street bonuses
The Massachusetts Democrat and banking committee chairman is now calling for a bonus moratorium at Wall Street firms whether or not they participate in the financial rescue plan. If it's any comfort, John Carney thinks the NYC-economy-ravaging idea is "most...
A Bad Bailout
Sebastian Mallaby makes a strong case against the Bush Administration's proposed Wall Street bailout bill....
Bush: Bailout Is Necessary
From the Associated Press via Yahoo! News: "Bush confident bailout bill will stabilize economy," by Julie Hirschfeld Davis--Key supporters of a Wall Street bailout package prodded lawmakers to approve the plan hours ahead of a difficult House vote on Monday,...
A Bailout Bill Takes Shape See draft of Current Bailout Bill
By Steven M. Davidoff - professor at the University of Connecticut School of Law We have obtained a draft of the current version of the Wall Street Bailout Bill that is being considered by Congress...
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