Saturday, January 24, 2009

Bailout Cash Used To Pay Banker Bonuses

Found this little item on Clutterstock. Apparently the fat cat bankers at Bank of America, who were bleating that they needed an extra $20 billion - that's $20,000,000,000 - to help cover the costs of their takeover of Merrill Lynch, gave it to themselves as bonuses.
I've decided that the bankers really do show the way, so I've decided to put in a bid on a bank - something small, maybe a credit union. I don't want to be greedy. Then once I own that I'll ask the government to give me the money to cover the cost of my purchase - sure I'll even offer the government some dividend paying shares (in case my bank ever makes a profit that I can't hide). Luckily, the government of Canada, like that in the US, is a strong believer in the free market, so they won't want any voting shares to determine how I actually spend the money. Then I'll take the money meant to cover my purchases and I'll pay myself a big fat bonus for being so clever. Say, $50 million. 
And the great thing about this plan is that you can keep going back for more - this is the second installment that Bank of America received. It's like it says on the back of your shampoo bottle: lather, rinse, repeat. Anybody else in?
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