Loan sharks, super taxes and bonus outrage

Posted on January 15, 2010 by stacyherbert| 19 Comments

Stacy Summary:  Obama ‘intends’ to recover taxpayer money, or at least $90 billion of the several trillion; and bankers ‘may reduce’ bonuses.

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19 Responses to Loan sharks, super taxes and bonus outrage

  1. Marc Authier | January 15, 2010 at 6:29 am |

    825% Just what the doctor ordered. And a pound of flesh with that. We are regressing.

  2. Marc Authier | January 15, 2010 at 6:33 am |

    There is really good way of reducing bonuses. It’s called bankruptcy. Let the banks fail and liquidate the banks. There would be no problem with the bonuses if banking worked the same way as any other industry. Close the City and Wall Street. I really think that would not be the end of the world. It would naturally by the end of the world for Lloyd Blankfien, God’s envoy.

  3. Danny | January 15, 2010 at 6:38 am |

    I love that word ‘may’; so diversionary in its vagueness

  4. Justget Itright | January 15, 2010 at 6:38 am |

    O bama is sure reliable, the ultimate bullshitter. He’ll bang us up the stinkhole someway. The article says he “intends to”. Should have been, “pretends to recover tax payer money”.

  7. Phil /Germany | January 15, 2010 at 6:45 am |

    JPMorgan Q4 profit soars on investment banking

    JPMorgan, seen as one of the banks that has best survived the financial crisis, has been battling rising losses on its credit card and mortgage portfolios over the last year

    http://www.livemint.com/2010/01/15173027/JPMorgan-Q4-profit-soars-on-in.html?h=B

    Carlyle to Form Buyout Fund With Beijing Government (Update1)


    By Cathy Chan

    Jan. 12 (Bloomberg) — Carlyle Group, the world’s second- largest private-equity firm, said it will set up a domestic Chinese private equity fund with the Beijing government.

    The fund, to be registered in China’s capital, will be established by the Beijing Municipal Bureau of Financial Work and Carlyle Asia Partners, Carlyle said in an e-mailed statement. The yuan-denominated fund will be entitled to “preferential treatment” from the government, it said.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=a5_o_3ugh7u0&pos=7

  8. Danny | January 15, 2010 at 6:50 am |

    I thought France 24 might have Max on again about the Geithner/AIG scandal.

    I wanna see Max v Geek Boy round 2!!!

  9. Marc Authier | January 15, 2010 at 6:59 am |

    Ok. Let”s see Obama will be asking 90 billion dollars to bankers after giving them a couple of trillions dollars. Wow ! I am really impressed. This guy is a clown ! He should send his résumé to the Cirque du Soleil. He would be just fantastic Obaaaaahhhhhmaaaaaaa the Bozo. Obama accountability. I give you 24 trillion and in return I ask you 90 billion. This courva is a real dream.

  10. the Dork of Cork | January 15, 2010 at 6:59 am |

    @Danny
    I too want to benefit from geek boys great wisdom and intellect

  11. Dustin | January 15, 2010 at 7:16 am |

    There was a TV advert for same day money for sums up to £1000.

    The interest rate was a staggering 2000+%.

    Sad that people will do this in desperation.

    Also noticed in the UK that over 1 million homes are using a credit card to pay the morgage. Dam, thats just gonna end in tears.

  12. Will | January 15, 2010 at 7:17 am |

    Obama staffer wants ‘cognitive infiltration’ of 9/11 conspiracy groups

    Cass Sunstein, a Harvard law professor, co-wrote an academic article entitled “Conspiracy Theories: Causes and Cures,” in which he argued that the government should stealthily infiltrate groups that pose alternative theories on historical events via “chat rooms, online social networks, or even real-space groups and attempt to undermine” those groups.

  13. Palantíri | January 15, 2010 at 7:27 am |

    that guardian link has a double http://http//

    Re: loan shark
    I don’t see too much difference between loan sharks and credit card lenders, though the credit card lenders offer nicer sale package and would probably not break your knee (at least not before they sell your debt to … )
    on the other side, got to hand it to the loan sharks that find a business opportunity where no one else would or possible could. a loan shark was the basis of which banks grew out of.

  14. Yankee | January 15, 2010 at 7:48 am |

    So the banksters know how to negotiate for what they want, start high then come down to what you really wanted to get paid.

  15. Marc Authier | January 15, 2010 at 8:04 am |

    In the middle ages they usually got roasted on a nice fire if they tried these dirty tricks. Bernie Madoff is a real lucky guy when you think about it. 150 year prison tor ONE guy. What a joke indeed. The joke is on us.

  16. whitemale08 | January 15, 2010 at 9:25 am |

    The Obama ‘super tax’ will not work:

    Under the massive consilidation of the financial industry, most small community banks are either shutting down or being bought by the ALREADY FAILED BIG BANKS, like JP Morgan.

    So what will happen is that the FDIC will regulate against ‘free checking’ even if you maintain a balance over $1000.00.

    Those fees will be mixed in with the larger pool of taxpayer bail out money and poured into the pockets of Goldman Sucks and JP Morgan.

    The net result is that again the average working Joe will pay for these bail outs.

    The ‘super tax’ will also justify continuing the bail outs.

    CALL CONGRESS AND SAY: NO MORE BAIL OUTS…PUT GOLDMAN SUCKS AND JP MORGAN INTO RECEIVERSHIP!

    NOW IMMEDIATELY WITHOUT DELAY!!!!!!

  17. nick | January 16, 2010 at 1:38 am |

    there was a time in europes history, when bankers were never a pillar of society. they were viewed as a necessary evil, and an evil that was punished when they overstepped their boundaries. the punishment was usually a hangmans noose. ah the good ole days

  18. Marc Authier | January 16, 2010 at 8:04 am |

    @Stacy and Max
    What would happen to food stamps program if JP Morgan declared bankruptcy ? What’s the use anyways, of Washington and their government parasites it that can’t even administer a program like the food stamps ? Why all this big useless government ? The question is not theoritical. What will happen to the people on food stamps when JP Morgan goes kaput.

  19. Speirsy | January 17, 2010 at 3:50 am |

    @whitemale08 – Totally agree. Bank tax will legitimise more bailouts and ratchet up the moral hazard. CHOO CHOO!