House panel grills Lehman chief about bonuses

Article didn't say very much. 

aka: "Down Jones"

I hope congress is going to look into contributions received by our presidential candidates,  certain members of the senate banking and finance committees, and members of its own house.

The citizens of this country have, and they don't like what they see.

Corruption, fraud, obstruction, and just plain theft.  If the congress can't see any issues, I'm sure that American taxpayers will be more than happy to point them out.

That article is terrible, which is the norm for MSNBC.  Call up Barney Frank, Chris Dodd, Bill Clinton, Obama...These are the people that profitted from this mess.  This will be another wasted opportunity in order to save some senate rear ends.

Here is a great place to start an investigation.

Top 10 Corporate PAC Contributors:

Obama:

Goldman Sachs $739,521
UBS AG $419,550
Lehman Brothers $391,774
Citigroup Inc $492,548
Morgan Stanley $341,380
Latham & Watkins $328,879
Google Inc $487,355
JPMorgan Chase & Co $475,112
Sidley Austin LLP $370,916
Skadden, Arps et al $360,409

McCain:

Merrill Lynch $349,170
Citigroup Inc $287,801
Morgan Stanley $249,377
Wachovia Corp $147,456
Goldman Sachs $220,045
Lehman Brothers $115,707
Bear Stearns $108,000
JPMorgan Chase & Co $206,392
Bank of America $133,975
Credit Suisse Group $175,503

I'll list the senate and house contributions received next.
Than everyone will know who's responsible

Who's responsible? Are Americans that dumb? Elected officials are responsible. They took contributions to look the other way. Any where else it would be a bribe.

I think the banks are seriously at fault, when they gave credit and mortages to people with bad credit or didn't have a down payment on a house. I also blame huge companies gambling with hard working American's money. My husand and I looked at are 401K last week, and we are mortified. We lost quite bit, and today stock board numbers are dissmal. I'm afarid to look at what we have left, if there is any. It's terribly depressing. I think Hedge Funders who speculate on imagery estimates that suppose to bolster the ecomony were dead wrong too. They should be held accountable and brought to trial. If we are going to point fingers at politicians, then lets seriously look at the banks and the CEO's from Hewlett Packard to Exxon

Bush referred to his friends and family as the have and have mores--now we know why.  They sure were determined to get all the money they could and Congress complied.

"Welcome back my friends to the show that never ends..."  These proceedings should be about as productive as all the times they've hauled the oil exec 's up to Capitol Hill.  Just another Dog & Pony show to make the masses think congress gives a damn about them.  If you want justice, it's up to the American People.

Remember...

It ain't a Revolution until you...HANG SOMEBODY!

Don't we see that Corporations use the First Amendment as a loophole to create PAC and buy influence?  If they had a particular point of view, would they not support only one or the other candidate?  By supporting both candidates, they ensure themselves of either candidates support, no matter who gets in office!!!  This is called influence buying, flat and out CORRUPTION

IF YOU'RE ANGRY AND HAVE EXHAUSTED ALL YOUR VENTING AND HAVE GOTTEN NOWHERE...AND IF YOU ARE NOW REALLY MAD AND WANT TO DO SOMETHING ABOUT IT...READ ON.

To everyone who is totally Fed Up with this self serving, lying, cheating and deceitful government. To those who are tired of having to live beyond your means because your paycheck doesn't go far enough as inflation eats into it and salaries stagnate.  To those who want this country to return to the simple principals of balanced budget, manufacturing what we need and only importing what we cannot, to eliminating the greed from our corporate world.

And, to those want change and are willing to make the commitment to bring about this change, even if it take one neighbor, one friend, one co-worker at a time.

I am determined and organizing a nationwide "revolt" against this government, the corporate greed, and the wrong direction of this country.  To establish accountability, honesty, responsibility and credibility into our government.  To to return to basic values and principals upon which to rebuild this country, and begin to hold elected officials accountable, and return this government "Of the People, By the People, and For the People".

If you're interested in such a movement, email me Sburbnman@gmail.com, and visit FedUp.Com

It is time for another "Boston Tea Party" to send a message of "No Taxation without Representation!".  America is Fed UP of this corrupt, self serving, greedy, power hungry, government "By corporations, For Corporation and Of Corporations!".

It is time to take back this country from those who have hijacked it for their own benefits, while we still have the time, the ability and the opportunity to do so.  Before it goes so far that we it be impossible to restore the country back to who it belongs, AMERICANS!


Mitch.

Did you notice Bush's cousin was an executive at Lehmans?  Oh what a web we wove to decieve the public.  Bush, Chaney and all the others should not be permitted to draw a pension from tax payer dollars.  Use the money they stole from the taxpayer, that would be more than enough to support their high life styles during retirement.

OK - in this case there is a bankruptcy judge - if he doesn't get every dime back from these theives then he needs to be replaced.  Nice to see another Bush is involved.....

I nominate Chariman Henry Waxman who is conducting the hearings and Dick Fuld, former CEO of Lehman Bros. for "Major Jerk Awards". Waxman has conducted the hearings, so far, in a very partisan way. He takes no time trying to blame the Republicans and the Republican administration and has taken his shots when Republican members of the committee continue to ask why the committee is NOT asking why it is NOT looking at Fannie and Freddie who were government-controlled entities which were more out of control than Lehman Bros.

Waxman continues to attack Wall Street private companies and refuses to acknowledge that Fannie and Freddie, to the American taxpayer, was the more economically devastating.
Waxman openly blames Republicans for the economic problem, but failed to note the connections between Fannie and Freddie and Democrats like Barney Frank and Chris Dodd OR that Republicans had tried time and again to put stronger regulations on Fannie and Freddie.

This kind of partisan politics is not going to help, and it is going to enrage the American taxpayer and voter even more than we are now. By the way, I am a libertarian.

Dick Fuld's testimony made me absolutely SICK for his utter detachment from the problem event alhough he SAYS he is totally responsible! The man blames everything except the kitchen sink as the reason for the fall of Lehman and for all the troubles in the financial markets. The man should have bowed his head in shame, but no....

What a lieing, theiving P.O.S. He can't even answer a siimple question. Do you think your compensation was fair?

I would say to you.....

Send him to the gallows!

Congress grilling the CEOs?  That's the pot calling the kettle black.  They will spend a lot of taxpayer dollars in this investigation and in the end let the SOBs off the hook.  They are already saying "stupidity is not a crime" ?  Like these CEOs were just being stupid?  Yeah, right !

Please people get your facts straight before you post something you'll regret.

All this started during the Clinton Administration - those fair-minded Democrats wanted everyone to have a dream home even if they couldn't afford it, and they had no problem running to the bank with their underhanded deals.  Democrats definitely profited more in campaign contributions, etc. from the mortgage and real estate markets.

Bush is not a "perfect president" but he is not at fault for everything.  Just like Obama is not the "Savior" of everything.

As I watch my 401k disappear, I can't tell you how much better it makes me feel that Fuld feels just terrible.

Everytime I think I cannot be any more shocked or incensed - I learn something new.  I can not believe that these clowns at Lehman actually had the nerve to expect and received bonuses for flying that company into the ground!  All the while whining to the feds to help bail them out.  THAT IS MY MONEY THAT IS BEING PANDERED AWAY.  

What can anyone say?  I am awestruck at the arrogance of Fuld and his ilk.  They had to know they were going under, yet passing out millions of bonuses.  Take your choice, they were to stupid to be CEO's or purposely pillaged the company.  Yet us working stiffs, get to bail out these guys.  By the way, I can see why one would call $20 million a "special payment".  It would be very special to most of us.

"What has happened is an absolute tragedy," Fuld said in prepared remarks. "I feel horrible about what happened."
Oh, I BET he feels horrible.... but you don't see him giving back his millions, do you?

These people are so greedy.... it just makes me sick!!!

Who's Responsible??

Under Jimmy Carter we received the Community Reinvestment act.  This law says banks have to make loans in low income areas and it has forced many lending institutions to seek to make loans to people in areas that lenders would not normally go because of the risk and low property values. (Sub-Prime Loans). This was in 1977.  In 1980 President Carter and a Democratic controlled congress passed the Depository Institutions Deregulation and Monetary Control Act--The law also removed the power of the Federal Reserve Board of Governors under the Glass-Steagall Act and Regulation to set the interest rates of savings accounts. A sad fact is we are all still feeling the effects of his policies and decisions 30 years later.
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Then in 1995, President Bill Clinton made changes to the Community Reinvestment Act that forced an increase in the number of loans to these people and the aggregate dollar amounts loaned.-- Larger loans to people with less income in areas where the collateral value would go down instead of up. ( Clinton should have had his mind on the long range effects of this instead of Monica.) This was in response to pressure from 'community organizers'. Can you think of a former Community Organizer running for president?  Hint - he's a Democrat

In 1999 Mr. Clinton signed to repeal the Glass-Steagall act which had protected taxpayers since the Great Depression.

In 2003 President Bush tried to propose a change in regulatory control over Freddie Mac and Fannie Mae and place both companies under the control of the Department of the Treasury, but was voted down by the liberal democrats led by Barney Frank.  Remember the name Barney Frank, he is one of Obama's top two economic advisors; the other is Jim Johnson who was the head of Freddie Mac and walked away with $24,000,000.

Now, Mr. Obama and his liberal cronies are spinning the facts so you will believe that all our financial problems are because of Bush's failed economic policy. However, Obama's two most-trusted economic advisers to his campaign are the very people that were in control of Freddie Mac-Jim Johnson $24,000,000 and Fannie Mae-Franklin Raines $90,000,000 in 6 years.   In addition, since 1989 there have been several politicians who have received campaign donations and kick backs from these two failed institutions. The #1 recipient is Senator Chris Dodd-D RI and the runner up is none other than Senator Barrack Obama who received the second largest amount of donations (over $500,000) which is phenomenal because he has only been in the Senate for 3 years.

are you kidding me?  GW bush's cousin a lehman brother executive? Lehman brothers pleading for money from the government while dolling out millions to executives?  Are they serious?  480 million in pay over 4 years and he drives the company into the ground? That is fraud plain and simple. Someone should be fined and prosecuted. This is insane.

The House should "grill" them alright!
I will be glad to bring the barbecue sauce and skewers. They should be prosecuted and jailed. This is human GREED to the ultimate extreme!
Travesty of justice!