re: Trickling DownIt gets better, AIG just asked for another $37B outside the $85B credit facility the fed gave them because people want no longer trust the "unsecurities" anymore.
I guess when you are too big to fail you can do whatever you want.
re: Trickling Down"While the rest of the country struggles to come to terms with the financial crisis, a group of Barclays bankers have jetted off for a lavish banquet costing more than -ú500,000.
"As British taxpayers faced up to a grim financial future, coupled with the fear of tax hikes following the government's bailout -ú500billion bailout package, a group of fatcat bosses from Barclays Wealth flew out to the luxurious Villa Erba, beside Lake Como in Italy yesterday for the all-expenses paid jaunt."
re: Trickling DownYes, and another group from AIG is going to the Ritz and half moon bay for another junket just like this one.
And Wachovia is sending some 75 people from their AG Edwards division on a Greek Isle cruise.
THeir execs say that this is "normal" for the industry. Guess they haven't noticed that things are "Normal" any more.
The problem is that neither CEO has the leadership to stand up and say "hey, I know you feel you deserve this, but the world has changed and we all have to sacrifice."
I guess when you are too big to fail you can do whatever you want.
-Stanley
"As British taxpayers faced up to a grim financial future, coupled with the fear of tax hikes following the government's bailout -ú500billion bailout package, a group of fatcat bosses from Barclays Wealth flew out to the luxurious Villa Erba, beside Lake Como in Italy yesterday for the all-expenses paid jaunt."
http://www.dailymail.co.uk/new...
And Wachovia is sending some 75 people from their AG Edwards division on a Greek Isle cruise.
THeir execs say that this is "normal" for the industry. Guess they haven't noticed that things are "Normal" any more.
The problem is that neither CEO has the leadership to stand up and say "hey, I know you feel you deserve this, but the world has changed and we all have to sacrifice."