In Repaying U.S., Banks Reap a Bounty in Fees
OPS_admin | Dec 22, 2009 | Comments 0
Here comes another payday on Wall Street, just in time for the holidays.
No, I’m not talking about the big bonuses you’ve been reading about already.
I mean a new one, courtesy of companies like Citigroup, Wells Fargo and Bank of America returning their federal bailout money and raising new capital to replace it.
And that means big fees for all the banks that will hawk these new shares for themselves and their rivals.
More than $50 billion of new capital was raised as part of the effort by the biggest banks to repay the money from the Troubled Asset Relief Program and get out from under the thumb — and pay caps — of Washington.
All told, December was the biggest month in history for offerings, according to Thomson Reuters.
Full Story Dealbook Column – In Repaying U.S., Banks Reap a Bounty in Fees – NYTimes.com.
Filed Under: Economy - Labor
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The oligarchs openly talking about a coup d'état in America?
Multi-millionaire lobbyist Grover Norquist is calling for the impeachment of President Obama. In an interview with the right-wing National Journal - Norquist warned that if President Obama wins re-election and decides to let the Bush tax cuts for the top 2% expire at the end of the year - then Republicans will "have enough votes in the Senate in 2014 to impeach [him]."What does that mean? It means that the super rich in America - and their political operatives like Norquist in Washington, DC - have now compared a tiny tax increase on the wealthy to high crimes and treason - the only Constitutional basis Congress can use to impeach a President. It sounds like the oligarchs are now openly talking about a coup d'état in America.-Thom(Do you think will try it? Tell us here.) -
LEGALIZE Democracy
" We the corporations" On January 21, 2010, with its ruling in Citizens United v. Federal Election Commission, the Supreme Court ruled that corporations are persons, entitled by the U.S. Constitution to buy elections and run our government. __________
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
