The sale of the bank I used to work for became final today. It was brokered with TARP money to prevent FDIC seizure of my bank, which was about to fail any second. Because the TARP money technically was given to the other bank to buy my bank (the other bank didn't have to funds to buy it nor did they especially want it--they just wanted the TARP money and had to buy our failed bank to get it)--because the TARP money was given to the buyer not my failed bank, the executives are not subject to the prohibition on golden parachutes.
So--- the CEO and top five or six executives at my old bank will get a total of $49 million in severance packages for their good work destroying the company, and the employees will be let go, and this side of MI will get even more economically depressed.
This is our tax money that is going to pay these guys. This is coming out of the $700 billion bailout package. How many other rich CEOs are getting their hands on this money through these loopholes? I'm thinking lots of them.
We are being scammed, big time. I'm really angry about it, though not surprised.
It made the front page of our local paper this morning.
Wow. Happy Freakin' New Year.
Owwch, Pam. Sigh. But what else is new? Thing is, it is extra raw for you since you are living with it up close.
I just learned they are cutting my salary by $1500 a year because of 'the economy.' I'm just kind of laughing to myself. What, my little extra yearly money is now going for an expensive shower curtain to line some corporate b*llsh*t CEO shower in Sedona? LOL (Oh, better be careful-I said that.)
Stealing our tax dollars is the specialty of the banking industry. The have been doing it before the revolutionary war.
Lita,
What's worse is you are just one employee they probably did it to all of the employess lower than executive level, and that probably adds up to a lot more than 1500.
Happy New Year!!!
TMG
Exactly Lita! It's the people at the bottom who take the hits, and these guys at the top WHO CAUSED ALL THIS get their money no matter how bad it gets---and it's lots of money too. Why do any of those bank executives need multiple millions of dollars for being let go? They are already obscenely rich and they're all middleaged--it's not like they need this money to tide them over, it's just greed.
But what really irritates me is that the whole two years I was at the bank I was gaslighted, even by some fellow employees (but many agreed and many left for the same reasons I did). I'd say, "The bank is failing. It's clear it's about to go down any minute," and I'd be chastised by my supervisor and my supervisor's supervisor who would stay the bank was one of the strongest in the nation and had been around over 80 years and everything was fine, even though it obviously was totally fubar--a fifth grader could see it was an utter mess.
I hate crazy making. It's not even so much the crookedness and the greed, it's the crazy making corporate party line that requires every one to go completely insane in order to be considered a "good" employee. Insane as in saying things that have no connection to reality and saying them with a smile because the corporation like those things to be said. It's like a bad sci fi flick or something.
Hey Money Guy--Amen!
Lita--I forgot to say, God, I'm sorry they cut your pay. I'm thinking any day here they'll be hiring volunteers for these jobs. I'm sure lots of people would feel privileged to do them for free. Or maybe they could get people like us to pay to work for them!
Pay cuts are so junior high. When are they going to get REALLY creative! LOL!
Pam, Amen.
The same thing was going on at the newspaper I left a few months ago.
The 'CEO' publisher lady (in quotes because she was such an complete idiot--ie, she didn't know her employees all made fun of her because she NEVER, repeat, never washed her hands in the bathroom) just lied, lied, lied. The company is fine, just fine, of COURSE it is normal for designers to now be assigned to two telephones and run a cash register; the work is not that much.
I do not suffer fools well, so a couple times, because I was under so much stress, I almost ripped her head off.
I do not allow them to make me crazy (always try to stay 'Machiavellian'), but keeping it all together and coming out of the situation looking like a rose was so damned stressful I was beginning to have ulcer symptoms.
As my partner would say, let em rot in hell for this stuff--I would never want the burden on my soul of those extra little dollars or the extra large dollars. I'll eat rice. Or ramen! LOL...
pgrundy,
It is disheartening as my bank was seized and the CEO's walked away with megabucks.
I still believe they should help the people and not the banks. On Christmas when many were waiting in line for food, they were sitting up in their palacious homes and having extravagant parties, it completely disgusts me, however I am hoping that we have a better 2009.
Lita and AEvans--Yes, here's to a better 2009!
Although, I have this feeling it's going to be a better 2009 with lots of rice and ramen noodles in it!
No worries. I do like rice.
Three cheers for the capitalist mentality. I guess it is getting pretty old though. The whole rich get rich and poor get poorer deal has been going on ever since history began being recorded. It is a crying shame that those who wish to go about things in the "good and honest" way will always be getting the short end of the stick.
Enough self pity though. What shall we do instead? Will we make the effort to change this policy of greed or will we find a groove that works for us and keep our nose to the grindstone? I'm for the Robin Hood approach myself.
Scott
Oh, I forgot to ask something. Anyone know where the US is getting this 800 Billion dollars from? Last time I checked they were already some trillions of dollars in debt.
Scott
Money Guy--We have lots of wasps here! They are those little European brown wasps that make paper houses under our eves and in the garage rafters. Maybe come summer I could freeze some for protein supplements next winter. See, things are looking up already!
Hi Scott--I'm all for the Robin Hood thing too. I wasn't a year ago, but it's all getting to be a little bit more than I can stomach at this point. I don't know why Bernard Madow is even still alive. He's in his own apartment in NYC, and it just baffles me how this is so and yet no one busts in there and throws him out his own window. I'm not saying that would be the right thing to do--I'm just saying, what will it take before people snap?
As for where the money is coming from--At first we were borrowing it from China, and now we're just inventing it--just printing it up. Money for everybody! Whoo hoo!
Seriously, we really are just printing more. The Fed is authorized to do that, but there will almost certainly be consequences down the road. Everyone is so focused on putting out this fire--and in some ways rightly so--that only the farthest of the far right are even talking about the cost of that right now.
I love the latest euphemisms.
"Money supply growth," and "quantitative easing," are my current favorites.
As we all know, the Fed had a pretty big hand in creating the current situation, but I did actually work out how much commission they will make if they have to print as much money as we all think they will have to -
http://markpknowles.com/money-supply-gr … -buzzword/
$170,000,000,000 @ the 2% commission they get to charge
Nice work if you can get it.........
Holy Cow, Mark. That's not a bad paycheck. But I'm sure they earned it through their exceptional brilliance and hard work and so on and so forth. I know this from the hate mail I sometimes get on my financial hubs informing me that CEOs earn every penny they make, while the rest of us settle for crumbs because were are subcreatures.
<Pam now using power of intent to manifest $170,000,000,000 paycheck...>
LOL!
I prefer those big fat juicy ground wasps. The ones that eat those gigantic locusts. You roast em and they are so tasty. I also really like bull frogs which might be why it is very hard to find one Oklahoma these days. Same thing for snapping turtles I like to grab them straight out of the ditch. Although I haven't done that in over 15 years as I recall it didn't take much talent so I am pretty sure I won't be starving this year.
TMG
Well, here it would be rabbits and deer. We found 7 dead deer on our property when we moved in. I don't know if the guy who used to live here was poaching them or if we are living on top of a toxic waste dump or what, but it was weird, you know?
Cool collection of skulls now though. We've got them hanging on the snowplow.
Very Cool,
I have pretty good collection of skulls as well, but no poaching!!
TMG
by KRC 13 years ago
A few months ago I posted some exciting news I had. I had been contacted by a celebrity's wife about writing articles for them for magazine publication. (this is the thread about all of that http://hubpages.com/forum/topic/47937 ) We did a lot of corresponding back and forth. She...
by pgrundy 15 years ago
Just curious.My partner and I were talking about this last night while we were throwing the ball back and and forth with the dog. Both of us work pretty much all the time, way more than 40 hours a week each. We don't eat out, we rarely go to movies, we certainly don't wander around and shop for...
by countrywomen 15 years ago
We were just following the news recently where Jon Stewart accused Jim Kramer (and others in the media) for there part in the 401k losses. Both myself and to a great extent my husband's 401k was lost. Recently when we saw the AIG top executives giving bonuses to themselves from our hard...
by manofmystery24 4 years ago
How would you use the money?
by Ramilyn 9 years ago
If you had 20 million dollars what would you do with it?Just trying to figure out what people would do with their money because I certainly have many great things to do with it if ever I had that much. What would you do?
by jagandelight 12 years ago
Would getting a Million dollars today help or hurt you?
Copyright © 2024 The Arena Media Brands, LLC and respective content providers on this website. HubPages® is a registered trademark of The Arena Platform, Inc. Other product and company names shown may be trademarks of their respective owners. The Arena Media Brands, LLC and respective content providers to this website may receive compensation for some links to products and services on this website.
Copyright © 2024 Maven Media Brands, LLC and respective owners.
As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.
For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy
Show DetailsNecessary | |
---|---|
HubPages Device ID | This is used to identify particular browsers or devices when the access the service, and is used for security reasons. |
Login | This is necessary to sign in to the HubPages Service. |
Google Recaptcha | This is used to prevent bots and spam. (Privacy Policy) |
Akismet | This is used to detect comment spam. (Privacy Policy) |
HubPages Google Analytics | This is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy) |
HubPages Traffic Pixel | This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized. |
Amazon Web Services | This is a cloud services platform that we used to host our service. (Privacy Policy) |
Cloudflare | This is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy) |
Google Hosted Libraries | Javascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy) |
Features | |
---|---|
Google Custom Search | This is feature allows you to search the site. (Privacy Policy) |
Google Maps | Some articles have Google Maps embedded in them. (Privacy Policy) |
Google Charts | This is used to display charts and graphs on articles and the author center. (Privacy Policy) |
Google AdSense Host API | This service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy) |
Google YouTube | Some articles have YouTube videos embedded in them. (Privacy Policy) |
Vimeo | Some articles have Vimeo videos embedded in them. (Privacy Policy) |
Paypal | This is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy) |
Facebook Login | You can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy) |
Maven | This supports the Maven widget and search functionality. (Privacy Policy) |
Marketing | |
---|---|
Google AdSense | This is an ad network. (Privacy Policy) |
Google DoubleClick | Google provides ad serving technology and runs an ad network. (Privacy Policy) |
Index Exchange | This is an ad network. (Privacy Policy) |
Sovrn | This is an ad network. (Privacy Policy) |
Facebook Ads | This is an ad network. (Privacy Policy) |
Amazon Unified Ad Marketplace | This is an ad network. (Privacy Policy) |
AppNexus | This is an ad network. (Privacy Policy) |
Openx | This is an ad network. (Privacy Policy) |
Rubicon Project | This is an ad network. (Privacy Policy) |
TripleLift | This is an ad network. (Privacy Policy) |
Say Media | We partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy) |
Remarketing Pixels | We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites. |
Conversion Tracking Pixels | We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service. |
Statistics | |
---|---|
Author Google Analytics | This is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy) |
Comscore | ComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy) |
Amazon Tracking Pixel | Some articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy) |
Clicksco | This is a data management platform studying reader behavior (Privacy Policy) |