Infestment bankers

lambert's picture

Quelle surprise:

Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday.

As well, executives who feared for their bonuses in the company's last months were told not to worry, according to documents cited at a congressional hearing. One executive said he was embarrassed when employees suggested that Lehman executives forgo bonuses, and cracked: "I'm not sure what's in the water."

What's in the water, you say?

Blood?

NOTE So, not only do I own a humongous insurance company, I'm paying the infestment bankers very handsomely for royally screwing me? Generally, it works the other way, doesn't it?

UPDATE On the first time through the story, I missed this little goodie:

The rescue plan, now law, was so rushed that the usual congressional scrutiny is only coming now, after the fact.

Well, I'm sure that won't be a problem. After all, the people who drafted the law are known for their honesty and fair dealing.

If you liked this post, buy the author some books.

Help the hamsters with their winter heating bill ...

… as they power the wheels that turn the servers at The Mighty Corrente Building. Please, won’t you help them keep their cages shiny?

No PayPal Account required! Give the hamsters immediate relief!

Or Subscribe to make a monthly payment!

Corrente is completely supported by contributions from readers. Thank you!

Download Citibank Plutonomy files

Part 1 [PDF]

Part 2 [PDF]

Good reading! Favorite quote: What could go wrong?
Beyond war, inflation, the end of the technology/productivity wave, and financial collapse, we think the most potent and short-term threat would be societies demanding a more ‘equitable’ share of wealth.

The 12 Word Platform

1. Medicare for All

2. End the Wars

3. Tax the Rich

4. A Jobs Guarantee

Senior fellows of The Mighty Corrente Building

Leah (CA), Lambert (PA/ME), RDF (??), BDBlue (DC), Hipparchia (FL), MsExPat (NY), letsgetitdone (DC), twig (LA), Tony Wikrent, (NC), jawbone (PA).

Corresponding fellows

danps.

Western Coordinator

coyotecreek

Correspondents

Health care reform: DCBlogger.

Fellows emeritus

mjs, Riggsveda, Tresy, Tom, hekebolos, chicagodyke, shystee, and Xenophon, Vastleft (MA), Sarah (TX).

Random term

Adj. 1. Having grabbed one's ankles (of a Liberal); 2. Dominated by Conservatives (of a process); 3. In power (of a Conservative).

I support Americans United for Separation of Church and State.

Americans United is dedicated to preserving the constitutional principle of church-state separation as the only way to ensure religious freedom for all Americans.