Top bailed-out banks to pay $30 billion in bonuses

Fu*k Chase. When I was in dire straits at the beginning of the Mortgage Crisis due to a job loss, They foreclosed on my house. $50,000 in equity. In my state they don't have to notify you of the auction. Yes we had a Lawyer, and Yes we were in contact with them the whole time. In the end a family member came through with cash, and the Lawyer tried to negotiate a payoff of the WHOLE loan plus all legal fees. Chase said NO! They took my house, listed it for 20,000 more than we paid for it looking to make 70,000 off of the sale. In the end after the house sitting on the market for over 6 months they wound up selling it for the same amount we offered to pay off the note. Fu*k them. They stole all my money as far as I'm concerned, they have no heart and literally threw a family of 4 into the Street. We just went and bought another house with the money from Family, but the fact still remains we were lucky to have family who could help. Chase is a heartless corporate monster.

We wouldn't be worrying about this if the government statists hadn't bailed these companies out. They would have failed and been replaced with a more successful business model.

If they paid back all their bailout money, as a private business, they can hand out as much bonus money as they want. Maybe the idiots in this country won't support the socialistic bailouts next time.

this is crazy but i do know that jpchase was forced to take the money they didnt want it..... so in that case shame on a lot of things.

either way this is such bull non of this makes since to me why do we continue to allow this>?

"What amazes me is that the people that work for that company and knew that they did it, that they didn't rise as one and SLAY THEM" - Lewis Black

Pitchfork

It's a morbid episode of fiscal disrepair when corporations, who dig themselves their own hole or jump into the deep end of the swimming pool right after eating, receive assistance--undettered. I know more than enough college graduates who are staggered by their inability to pay down their school debt, or build a life for themselves on 40k a year.

And, We the People, have not done much about it.

I hope they get a billion paper cuts

Not This Again !

WhatEVER!!!! Geeeesh!!! This is nutz!

Chase bank jacked up my credit card interest rate to 30% (I have no balance thank god) and they did this to pay out multi-billion dollar bonuses? WTF!

we should bury these people with our cash and watch them suffocate to death under their wrong doings. any chance we can put it on payperview too?

OUTRAGE!

...I will forever have an uneasy feeling in surrendering my fate to people who will never feel the cold steel of an empty shopping trolley, the despair of opening an actual letterbox, and the sadness of children's faces without hope...

WTF

I'm confused as to why the Fed did not apply an interest rate to these bozos like they do to everyone else for credit cards and the like...I guess my hard-earned tax money comes without compounding interest...

http://current.com/items/91240936_austerity-don-t-re-invent-the-blitz.htm

at times like this, I am proud to be an American...

Here's perspective:

The 3, Goldman, JP Morgan Chase and Morgan Stanley - none were banks when they received the $45 billion. They all needed the cash at the time because they were running on empty and it was a matter of time before they were dry. They were on the brink. In my opinion, the world would be a better place now if they had just gone under.

After getting the lifeline from US taxpayers, they then converted to actual banks under the NY banking charter in record time and came into the FED structure.

Then the FED, which is allowed to lend money to banks, lent money to these new banks in return for questionable "securities" at basically zero interest with access to the FED's discount window. $2 trillion to date has been lent to who knows to whom - they refuse to say.

This money from the FED gave the 3 the money to pay back the original $45 billion to taxpayers, making them look like they somehow made all this money, when in fact they borrowed that money from the FED and pushed off the risk onto them. If the FED loses money, it can just print more, since it controls the money supply and can print as much as it sees fit.

The zero percent interest from the FED on all this money allows the banks to invest that money even in risk free US treasuries, guaranteeing them a profit.

Problem solved and the banks (now they really are banks), can now continue as before until they make huge losses again, in which case the FED will be there to "buy" the bad securities from them and cover up the losses by printing money to itself.

We need to re-instate the Glass-Steagal Act (separation of banks from Wall Street securities firms)
We need to establish a settlement system to the stock market (there is none now)
We need to bring transparency to the FED (private entity)
We need to bring the US currency under the control of the government and away from the private FED
We can not allow private entities control the printing of money nor regulate the banking sector - that's the government's job.

none of these bastards should get a dime til unemployment goes back down. but that would be in a fantasy world where every problem was solved with poetic justice. at least we're still able to curse them freely in this one.

The good news is that these banks DID pay back the bailouts they received.
The bad news is that they are not making credit available in a manner that is helping create jobs.
Solution?
Regulation. Lots of it.

I see nothing wrong with this since "All three have paid back the government bailout money they've received." They bounced back so they should be able to feel the rewards. I would be more mad if they got our money and failed but since we got it back who cares.

No end in sight to the corruption in the financial industry.

You would think people would talk about it more. Once people do start to talk about it, it will be too late.

No point in talking about it then.

Well, if the banks already payed back what they borrowed, then until there are stricter regulations put in place there is nothing the government can do about this. However, if these banks end up putting themselves in a dire situation again, I'm hoping the government might just let them twist in the wind rather than help.

some day in the not so distant future, a crazy man will not stand for this sort of behavior and 2 shots later.. he will try and end this corruption himself

nauseating.

If every working class American just STOPPED paying taxes, could they arrest us all? Our forefathers did it. Shouldn't we learn from their example? Or is that terrorism?

What do the Corporates care? Politicians? As the masses of America work just to pay the Mortgage, electric, heating and Food bills. The rich just keep on getting whatever they want. When was the last time any of these people had to worry about paying a water bill, or for that matter the price of a gallon of gas. They have no concept of the real world and what is even sadder is it seems as if they don't care.
With Millions of people world wide starving it is all surreal. As A. Greenspan said "If they are to big to fail then they are to big"

http://current.com/163t24c
237 Millionaires in Congress

Of course, 0bama and his crew stand to make a load of dough from these deals. These are the people who subsidized 0's campaign to begin with.
Congratulations on a job well done.

So... the money that we gave them is to go toward bonuses not saving the economy?
The governments and banks know they can get away with this because the general public at large don't understand or are too concerned with other things such as entertainment or their own miserable existance.
This is insanity at it's best! and it will never make sense until WE make it make sense!

SOMEBODY, Please, make this all make sense!!!!