Nine Wall Street Big Shots Who Cashed In on the Crisis
With Americans across the country realizing that they are not the only ones fed up with the CEOs, bankers and policymakers responsible for the current damage to the U.S. economy, now is a good time to read up on the Wall Street executives who profited most from the bubble and federal bailout. (more)
With Americans across the country realizing that they are not the only ones fed up with the CEOs, bankers and policymakers responsible for the current damage to the U.S. economy, now is a good time to read up on the Wall Street executives who profited most from the bubble and federal bailout.
Citigroup director and deregulation architect for the Clinton administration Robert Rubin, Goldman Sachs CEO and Chairman Lloyd Blankfein and JPMorgan Chase President and CEO Jamie Dimon are featured in this article from Mother Jones published in the beginning of 2010. –ARK
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After Goldman Sachs, JPMorgan Chase, and Morgan Stanley announced hefty profits last fall, the Obama administration’s pay czar said that he’d cap pay at Citigroup, Bank of America, and five other bailed-out companies. The move was largely symbolic: It capped salaries for only 25 executives, kept big stock bonuses in place, and did nothing to address the culture of rewarding folks who sowed our economic destruction. Below, some of the players who made out like bandits during the bubble and the bailout.
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Playing on fears and stoking divisiveness is the president's go-to strategy, even as tensions build on a national and international level as a result of his rhetoric and direction.
The Republicans and Democrats are two faces of the same failure. And there will be no real hope of rescue by third parties until the American system of electoral politics is rebuilt from the ground up.
Nice try, but no cigar.
The current movement is not just toppling predators in high places: It is defying the core sickness and rigid hierarchy of corporate culture.
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