Consumerist
-
deals
Give Amazon $80, Get Video Games And $40 Credit
If you have $80 and a lust for video games, Amazon has a deal for you, which was spotted by Joystiq. Spend the money on pre-selected video games and you get a $40 credit. More » -
bank of america
Salary Czar To Ex-BoA CEO: No Pay For You!
Departing Bank of America CEO Ken Lewis will get no 2009 pay or bonus. But won't this serve as a disincentive to future executives who are thinking about totally cocking up their company and bringing down the US economy? [WSJ] (Thanks to Snarkysnake!) -
aig
Czar Tells AIG Not To Hand Out As Many Bazillions More In Bonuses Come March
Not content with just one Worst Company in America victory, AIG is going for back-to-back titles by trying to give out $198 million in bonuses in March. More » -
investigations
Bank Of America Board Members Subpoenaed
New York Attorney General Andrew Cuomo's office is gathering information in order to file fraud charges against some BoA executives over what they knew, and what they hid, when they acquired Merrill Lynch & Co. a year ago. Earlier this week, his office subpoenaed 5 board members to find out "what they knew regarding the mounting losses and bonus payments at Merrill before the deal closed on Jan. 1 and what role they played in deciding whether to disclose that information to shareholders," according to the Associated Press. More » -
rakoff rocks
Judge: BoA SEC Deal Violates "Most Elementary Notions Of Justice And Morality"
Judge Jed Rakoff, our favorite crusading curmudgeon of the court, is at it again. And once again, he's turned his ire to the backroom deal that Bank of America tried to cut with the Securities and Exchange Commission to settle a complaint about outsize bonuses paid at Merrill Lynch before BofA took it over last year. The $33 million settlement, Rakoff wrote in his decision, "does not comport with the most elementary notions of justice and morality." More » -
failure
NY AG: Banks Paid Bonuses That Were Substantially Greater Than The Banks' Net Income
New York Attorney General Andrew Cuomo's report on the bonus structures of the banking industry is out and — oh my— it's damning. The AG says that 3 banks, Goldman Sachs, Morgan Stanley, and JP. Morgan Chase, paid out bonuses that " were substantially greater than the banks' net income." More » -
oh hell no
AIG Asks Federal Permission To Pay $2.4 Million In Executive Bonuses
A hush fell over the AIG conference room on the day that their Worst Company in America 2009 trophy was unveiled. The eyes of every executive in the room sparkled with just a bit of pride. "Well done, everyone," said the man at the head of the table. "But we mustn't rest on our gilded-feces laurels. It's time to begin our work for next year's competition."
That's how I imagine the meeting went where AIG decided to award more bonuses to executives next week. More »
-
jackpots
Banks Use Life Insurance Policies To Fund Executive Bonuses
Here's a morbid bit of creative accounting, courtesy of the Wall Street Journal: if you work for Bank of America, J.P. Morgan Chase, or Wells Fargo, your employer may have taken out a life insurance policy on you.
More »
-
-
aig bailout
Remember How Mad You Were About Those AIG Bonuses? They're Bigger Than You Thought
So, remember those bonuses everyone was so mad about? Well, it turns out that they were bigger than originally disclosed. A lot bigger. More » -
newspaper death watch
Chicago Tribune Fires Reporter Covering The Recession
Let's pause a moment to consider this sentence from Crain's Chicago Business. "On the same day the Chicago Tribune cut 53 jobs from its newsroom, its parent Tribune Co. asked a Bankruptcy Court to approve of $13.3 million in bonuses and other incentive payments to 703 employees." More » -
bonuses
Fannie And Freddie To Pay $210 Million In Retention Bonuses
Fannie Mae and Freddie Mac are preparing to hand out $210 million in taxpayer-funded retention bonuses to 7,600 employees. No bonus will exceed $1.5 million, but more than half of all Freddie and Fannie employees will receive an average bonus exceeding $24,000. More » -
aig bailout
AIG Financial Products Employee's Public Resignation Letter
Here is a resignation letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group's financial products unit, to Edward M. Liddy, the chief executive of A.I.G. It was published in the New York Times. More » -
aig
AIG Big Bonus Getters Will Return Their Cash
You can put down your pitchforks, NY AG Cuomo told reporters this afternoon that most of the AIG big bonus receivers had agreed to return their bonuses. 9 of the top 10 bonus recipients, and 10 of the 15 bonus recipients in the infamous financial products services division, will return their monies. The holdouts were mainly overseas workers and those outside NY jurisdiction. The total remittance comes to about $30 million. Great, can we get back to fixing the economy now? Thanks.
Cuomo Says Most Huge A.I.G. Bonuses Were Returned [Dealbook]
-
aig bailout
AIG Turns Over The Names Of Bonus Recipients
AIG has complied with Andrew Cuomo's subpoena and turned over the names of the bonus recipients. The NY AG has released a statement about the issue, which you can read inside. More » -
aig bailout
Congress Considering Sending The IRS After AIG
The Washington Post says that the House will vote this afternoon on a bill that would seek to impose a 90% tax on the AIG bonuses. The Senate Finance Committee is also working on similar legislation, but have not yet scheduled a vote. More » -
polls
Obama, Congress, Knew About AIG Bonuses For Months
The AIG furor continues as it turns out Obama and Congress knew about the AIG bonuses for months but previously, on the advice of lawyers, felt powerless to stop them. Question for the audience: is figuring out what happened with the AIG bonuses fundamentally important to get the economy back on track, or is it just another media circus sideshow?
-
seppuku
How Do You Solve A Problem Like AIG? Suicide.
Another day, another livid politician. Senator Charles Grassley of Iowa told a Cedar Rapids radio station that the AIG executives who are taking bonuses should, as an alternative, kill themselves. More » -
aig bailout
NY Attorney General To AIG: You Have Until 4:00 PM To Give Us The Names
Andrew Cuomo has written a letter to AIG in which he explains that they will turn over the names of those employees from the Financial Products subsidiary (that's the division that brought down the company) who are receiving bonuses by 4:00 pm today or they are coming at them with subpoenas. Yes, ladies and gentlemen, it's another awesome Andrew Cuomo letter after the jump. More »
bonuses
New York, 6:19 AM
Tue Nov 10
22 posts in the last 24 hours
Tip Your Editors:
tips@consumerist.com
tipline: 347-42C-ON95
Co-Managing Editor:
Ben Popken
Email | AIM | Twitter
Co-Managing Editor:
Meghann Marco
Email | Twitter
Senior Editor:
Chris Walters
Email | Twitter
Weekend Editor:
Laura Northrup
Email | AIM | Twitter
Associate Editor:
Alex Chasick | Email
Associate Editor:
Phil Villarreal
Email
