He needs to quit.
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What is Paulson going to flap his lips about now?
- Thread starter Aaron Copland
- Start date
Paulson's `Chump' Kashkari May Ruin Christmas, Congressman Says
By John Brinsley and Rebecca Christie
Nov. 14 (Bloomberg) -- On Capitol Hill today, Neel Kashkari became the ``chump'' who stole Christmas.
Kashkari, who oversees the Treasury's $700 billion financial rescue plan, came under fire at a congressional hearing today, notably by Maryland Democrat Elijah Cummings. Cummings was angry about reports American International Group Inc., which got an expanded $150 billion government bailout this week, is setting aside $503 million in compensation for executives.
``I'm just wondering how you feel about an AIG giving $503 million worth of bonuses on the one hand, and accepting $154 billion from hard-working taxpayers,'' Cummings asked Kashkari. ``What really bothers me is all these other people who are lining up. They say, well, is Kashkari a chump?''
http://www.bloomberg.com/apps/news?pid=20601087&sid=aELLkr3l7JYk&refer=home
By John Brinsley and Rebecca Christie
Nov. 14 (Bloomberg) -- On Capitol Hill today, Neel Kashkari became the ``chump'' who stole Christmas.
Kashkari, who oversees the Treasury's $700 billion financial rescue plan, came under fire at a congressional hearing today, notably by Maryland Democrat Elijah Cummings. Cummings was angry about reports American International Group Inc., which got an expanded $150 billion government bailout this week, is setting aside $503 million in compensation for executives.
``I'm just wondering how you feel about an AIG giving $503 million worth of bonuses on the one hand, and accepting $154 billion from hard-working taxpayers,'' Cummings asked Kashkari. ``What really bothers me is all these other people who are lining up. They say, well, is Kashkari a chump?''
http://www.bloomberg.com/apps/news?pid=20601087&sid=aELLkr3l7JYk&refer=home
Quote from clacy:
Again, WHY THE FUCK should executives be getting bonuses when they ran the company into the ground?
The leadership of ANY company that needs a bailout, has inherently failed in their duties.
Such leadership should be fired rather than paid bonuses.
Is there not some law that if a company fails the executives are held accountable, can be even punishable with jail?
If we start a private company and commit fraud etc and the compnay goes under with debt then we finish up in jail. So why should it be any different for a publicly traded company?
M.