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02-13-2009, 12:36 AM #1
86% of Bailout Money Used for Executive Bonuses
http://endthebailouts.com/2008/11/07/86 ... e-bonuses/
86% of Bailout Money Used for Executive Bonuses
November 7, 2008 Jason Green Main
When confronted about these numbers, the executives will always claim that the bonuses are paid out of other funds and company earnings. This completely ignores the fact that without the taxpayers’ bailout money, there would be no earnings! If there was anyone left who still felt like the bailout was a good idea (besides the executives who directly benefit), this should be the final nail in the coffin that we were just robbed blindly while the politicians patted themselves on the back.
The election results pretty much confirmed the extent to which Main Street is rightly livid about the Wall Street mentality that led to our financial crisis. During his historic victory speech, President-elect Barack Obama told supporters, and the rest of the world, “If this financial crisis taught us anything, it’s that we cannot have a thriving Wall Street while Main Street suffers.â€
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