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Banker of the Day : TARP

Business  (tags: TARP, bankers, bank failures, DAVOS, CEOs, CDSs, credit derivative sweaps, credit crunch, bonuses, corruption, corporate jets, finance, bailout, stimulus, Bernanke, Bush )

- 3393 days ago -
If atonement is difficult, retribution may prove "brutally difficult" As Sternlicht sees it, "everyone wants a head, and that's not reasonable. To do that, you'd need to take out the top 20 executives at the 300 biggest financial firms." Why not?

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Blue Bunting (855)
Sunday February 1, 2009, 10:26 am

At Davos:

If atonement is difficult, retribution may prove “brutally difficult,” Starwood Capital Group CEO Barry Sternlicht said in an interview in Davos. As Sternlicht sees it, “everyone wants a head, and that’s not reasonable. To do that, you’d need to take out the top 20 executives at the 300 biggest financial firms.”

Not reasonable? Why not?

20 is not a very great number, after all. It's certainly smaller than two (now four?) trillion.

So, why not turn the banks into regulated public utilities? That would take out the top 20 executives, and a lot more of 'em, too.

NOTE Obama and the Dems bleating now about executive compensation is such pissant stuff; it's a transparent sop to public outrage. Where are the clawbacks? Where are the RIDO prosecutions? And where were our tribunes of the people when Tim Geithner's golfing buddies looted $70 billion for salaries and bonuses from TARP money the back in October, immediately after the Republicon$, Reid and Pelo$i got TARP passed?

Nowhere, that's where they were. The Village is so out of touch that they didn't even think people would notice. Now, the Village knows that we've noticed; they just think we're kabuki-lovin' fools.

UPDATE Sternlicht's bio.

Blue Bunting (855)
Sunday February 1, 2009, 10:58 am

Bailout Banks Gave The Finger To The AMerican Taxpayers

Banks collecting billions of dollars in federal bailout money sought
government permission to bring thousands of foreign workers to the U.S. for high-paying jobs, according to an Associated Press review of visa applications.


Yes, the corporate class has no discernible loyalties to our nation, other than knowing where to go for a handout.


Blue Bunting (855)
Tuesday February 10, 2009, 11:49 am
Protestors Picket Bank CEO's Homes, Offices

A new kind of street warfare is breaking out against Wall Street titans - and it's happening on their lawns and outside their lobbies too. A corps of agitators - financed, ironically, with federal-stimulus millions - is making the rounds of suburban mans

Blue Bunting (855)
Monday March 2, 2009, 7:49 pm
BofA's Ken Lewis: TARP Funds "A Mistake"CNBC: Lewis Earned $8.8 Million In '08
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