Published: Wed, 14 Oct 2009
Description: (NECN: Jim Braude) - In all the excitement over the Dow hitting 10,000 today, it seems only fair to apply the "ka-ching" test to the taxpayer bailout that saved the Wall Street banks that ruined the economy for the rest of us. I give ...
Automatically Generated Transcript (may not be 100% accurate)
" But while dispensing advice allow me to suggest we should do the next time Wall Street banks. Ask -- for a 700 billion dollar bailout. Is all the excitement over the Dow hitting him. It seems only fair to apply that -- To the taxpayer bailout to save the Wall Street banks have ruined the economy for the rest of us."
" I give one packaging to AIG remember them. They were too big to fail so the government prop them up with a 180. Billion dollars. Now they wanna pay themselves 198. Million in bonuses the so called Azores trying to stop it. But he's been stymied stay tuned. I award to packaging the JPMorgan Chase. The investment bank is feasting on huge profits. And handing out two point eight billion dollars in bonuses. 353000. Dollars per employee. Not a bad outcome for the folks who helped create the derivatives strays. And then took the money in round before the pyramid scheme collapsed. But top prize three kitchens goes to the investment banking industry. On track to pay employees about a 140 billion this year a record high according The Wall Street Journal -- more than rebounded from the great crash of 2008. 2009. Yeah yeah. It. And finally that Debbie downer award goes to the rest of average Americans who paid for the Wall Street -- The ones who -- 10% employed. Underwater or mortgages and under threat of losing pay and benefits until the economy recovers. Sure we're still waiting for our bonus. Until then. We can dream can't -- And how to."