This is too much. Lehman cries "help" while cutting checks.
"Congress opens hearings on financial meltdown
By JULIE HIRSCHFELD DAVIS, Associated Press Writer
6 HOURS AGO
WASHINGTON - Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday."
The story goes on from there.
Once again we are smacked in the face by the fact that our president and his advisors are idiots or lackies of Big Business or both. The members of Congress refused to listen to the outcry from the people they supposedly represent and went ahead with this flim-flam bailout bullshit.
How is it that everyone I talked with about this was against the bailout? It didn't matter if they were donkeys, elephants, or independents - they all knew this was about throwing a lifeline to companies that had been milked to the max. All of us regular folks knew this was a sham and Congress, in its infinite wisdom, didn't recognize a pig in a poke?
At the very least - Write to your representatives in Congress and let them know you will NOT vote for them ever again unless they put a clamp on the 700 BILLION dollars. You might also consider NOT voting your representative back into office if he or she ignores you in this regard. The first time I contacted Vern Ehlers (our rep) his answer told me he voted FOR the package the first time. I assured him that because of his vote, he will NOT get my vote in a few weeks. Up until now I have been impressed with my Ehlers - saw him debate an opponent 4 years ago and his intellegence blew me away. No longer.
Here is some more of the article: "[Rep Henry] Waxman read excerpts from Lehman documents in which a recommendation that top management should forgo bonuses was apparently brushed aside. He also cited a Sept. 11 request to Lehman's compensation board that three executives leaving the company be given $20 million in "special payments."
"In other words, even as Mr. Fuld was pleading with Secretary Paulson for a federal rescue, Lehman continued to squander millions on executive compensation," Waxman said before Fuld appeared as a witness." end quote
What we have here are giant demonstrations of arrogance. Arrogance on the part of Lehman execs who hand themselves millions while asking (expecting?) you and I to bail them out of the shit storm they created.
Arrogance on the part of our elected officials who ignored the hundreds and thousands of emails, phone calls, and faxes pleading with them to ignore the cries of Lehman Bros. et al to "invest" our tax dollars in this sham.
Lehman execs figure they answer to no one - the same behavior is demonstrated by Congress.
By JULIE HIRSCHFELD DAVIS, Associated Press Writer
6 HOURS AGO
WASHINGTON - Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday."
The story goes on from there.
Once again we are smacked in the face by the fact that our president and his advisors are idiots or lackies of Big Business or both. The members of Congress refused to listen to the outcry from the people they supposedly represent and went ahead with this flim-flam bailout bullshit.
How is it that everyone I talked with about this was against the bailout? It didn't matter if they were donkeys, elephants, or independents - they all knew this was about throwing a lifeline to companies that had been milked to the max. All of us regular folks knew this was a sham and Congress, in its infinite wisdom, didn't recognize a pig in a poke?
At the very least - Write to your representatives in Congress and let them know you will NOT vote for them ever again unless they put a clamp on the 700 BILLION dollars. You might also consider NOT voting your representative back into office if he or she ignores you in this regard. The first time I contacted Vern Ehlers (our rep) his answer told me he voted FOR the package the first time. I assured him that because of his vote, he will NOT get my vote in a few weeks. Up until now I have been impressed with my Ehlers - saw him debate an opponent 4 years ago and his intellegence blew me away. No longer.
Here is some more of the article: "[Rep Henry] Waxman read excerpts from Lehman documents in which a recommendation that top management should forgo bonuses was apparently brushed aside. He also cited a Sept. 11 request to Lehman's compensation board that three executives leaving the company be given $20 million in "special payments."
"In other words, even as Mr. Fuld was pleading with Secretary Paulson for a federal rescue, Lehman continued to squander millions on executive compensation," Waxman said before Fuld appeared as a witness." end quote
What we have here are giant demonstrations of arrogance. Arrogance on the part of Lehman execs who hand themselves millions while asking (expecting?) you and I to bail them out of the shit storm they created.
Arrogance on the part of our elected officials who ignored the hundreds and thousands of emails, phone calls, and faxes pleading with them to ignore the cries of Lehman Bros. et al to "invest" our tax dollars in this sham.
Lehman execs figure they answer to no one - the same behavior is demonstrated by Congress.
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