Want to know how the bailout money that Poulsen is going to hand out, without oversight, is going to be used?
Barclays Bank has bought the investment arm of now defunct Lehman Brothers, and in order to get the personnel to go along, they guaranteed the bonus payments the brokers would otherwise have forfeited.
And we're talking USD 2.500.000.000 -- making sure that Christmas doesn't become as bleak as they thought it would be.
These bankers need to be taught a lesson, and that's exactly what Poulson and Bush are not going to teach them. They're going to think that after fleecing tax-payers as much as they can, the same tax-payers will help save them and their bonuses when they screw up.
My friends, that's not accountability we can believe in!
Lehman Brothers’ British staff reacted with fury when told that colleagues at Lehman’s New York office were expected to share in a $2.5 billion bonus bonanza while they would be paid just until the end of the month.
The bonus, described by London staff as a "scandal", has been pledged by Barclays Capital, the British-based bank that last week acquired Lehman’s American operation and took on 10,000 staff, according to reports at the weekend.
A spokesman for the TUC said: "It looks like those that will suffer the most from the Lehman Brothers collapse are those at the bottom of the corporate chain while many of those at the top will be looked after."
Lehman employees in the UK are in an uproar.
Let's not be fooled. These are robber barons. They have calculated enormous cuts of the pie to themselves, while delivering nothing. Those "fundamentals" that McCain spoke of, which he claims are "the workers of America" - they are getting robbed blind, helped by McCain and his lobbyist buddies.
The US capital market has become a predatory, immoral mechanism for exploitation and theft, and what better example than seeing that the US Lehman Brothers employees who make the jump to Barclays will have all of their benefits restored, while millions are being evicted from their homes.
http://www.telegraph.co.uk/...