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I just found out why AIG needed $450M bonuses for lawyers. AIG is trying to keep the brightest of them while suing the US Govt (their majority holder!?) for $300M in tax refunds (and probably more in the near future) for business they did through off-shore shell companies, business that was overtaxed by IRS according to them.
Congress is gonna fix the bonus mess up by simply taxing the big bonuses at 90%! Вашингтон в огне! Не воровать из пролетариата! 敌人的人将受到惩罚。Workers of the world, unite! Or as old Marx used to say: From each according to their ability, to each according to their needs.
Oh yeah, and Freddie Mac and Fannie Mae execs are getting their bonuses too, although they seem to be a lot less greedy than AIG: FNMA employees are receiving a total of $105M in bonuses over the next 18 mths, while FHLMC employeess receive only $76M in bonuses over the same period according to AP, although they only requested $15B and $45B respectively in bailout `pizza coupons`.
And here is the list of largest payees of AIG's bailout:
I wonder if the UBS payout had something to do with their unprecedented move to kill the famous Swiss bank privacy rule about one month ago by divulging the names of about 250 USian account holders. The court disclosures are juicy:
The coded language has certain common characteristics with the language used by another famous group of `businessmen`. Che bellezza!
Congress is gonna fix the bonus mess up by simply taxing the big bonuses at 90%! Вашингтон в огне! Не воровать из пролетариата! 敌人的人将受到惩罚。Workers of the world, unite! Or as old Marx used to say: From each according to their ability, to each according to their needs.
Oh yeah, and Freddie Mac and Fannie Mae execs are getting their bonuses too, although they seem to be a lot less greedy than AIG: FNMA employees are receiving a total of $105M in bonuses over the next 18 mths, while FHLMC employeess receive only $76M in bonuses over the same period according to AP, although they only requested $15B and $45B respectively in bailout `pizza coupons`.
And here is the list of largest payees of AIG's bailout:
Goldman Sachs ($12.9 billion), Merrill Lynch ($6.8 billion), Bank of America ($5.2 billion), Citigroup ($2.3 billion) and Wachovia ($1.5 billion).
Big foreign banks [...] Société Générale of France and Deutsche Bank of Germany, which each received nearly $12 billion; Barclays of Britain ($8.5 billion); and UBS of Switzerland ($5 billion).
I wonder if the UBS payout had something to do with their unprecedented move to kill the famous Swiss bank privacy rule about one month ago by divulging the names of about 250 USian account holders. The court disclosures are juicy:
The 2004 memorandum, [...] described how UBS created hundreds of “dummy” offshore corporations where its clients could hide money from the I.R.S. An e-mail message sent that year captured some of the coded language used by UBS bankers. In their world, “one nut” meant $250,000, while “one swan” meant $1 million. Colors were used to designate certain currencies. Orange, for example, represented the euro; blue, the British pound.
The coded language has certain common characteristics with the language used by another famous group of `businessmen`. Che bellezza!
