A lot of people want Wall Street’s current and former inept CEOs, i.e. the supposed architects of this here crisis, to own up to their mistakes, whatever they may be (A: not taking on enough risk). But few if any of them will come out of their figurative bunkers and literal hermetically sealed condoms to do so, so guess what? We’ve got to ambush those mother fuckers. Obviously, the man to lead us in this venture is Bill O’Reilly. CityFile reports that Papa Bear sicced a pack on former Merrill Lynch CEO Stan O’Neal last night as he was leaving his apartment and trailed him for a few blocks, demanding to know if he felt any guilt over collecting $161 million. Say what you will about Loofah Boy, but I appreciate his pioneering effort, which has given me the courage to say ‘to hell with possible stalking and aggravated assault charges, I’m going after these bitches, too.’ Because I’m a one-dimensional thinker the plan of attack is to start with the old [something] on a stick trick. Obviously for Cayne this’ll be a bag of chips, but I can’t figure out what to use for Fuld, so if you’ve got ideas, I’m all ears. Ang. Moz. will be a voucher for a lifetime supply of tanning bed bulbs, which he blows through like nobody’s business. Also soliciting submissions for Greenspan.
Earlier: “It’s You, You Big Fat Toad, YOU!”
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
I’m getting a sort of racist vibe from BO in that reach out.
O’Neal is kinda old news. Why didn’t O’Reilly try to ambush Fuld instead? I’m sure it has nothing to do with O’Neal permanent tan.
O’Reilly should have just called and left him a message.
@1 second that…he will go after Franklin Raines next
Terrible to do this to O’Neal. The guy might be a bad CEO but he did nothing wrong.
Go Bill! I hope you get a lot more of these guys…
@ 4 – doing ridiculous things with a company and pushing it over the edge of prudence so that he can make his bonus is not only wrong, it’s outright disgusting behaviour. And trying to sell it to Wachovia quietly so he can get his ‘change of control’ bonus AFTER he wrecked ML is downright disgusting.
Stan and Chuck deserve to be lynched in a public square.
Raines is too busy being an Obama economic advisor…
Obviously you need a BEAR trap for Jimmy Cayne
Wow. Do you guys realize that Oneal got the most disgusting exit package of all the banking CEOs? Cayne and Fuld literally lost their shirts (or billions of dollars) and didnt even get massive payouts. Chuck Prince also got nothing close to 161MM dollars.
Yet, you cannot accuse Oneal of anything because of his color? Talk of racism.
Like the idea of dangling (fill in the blank) on a stick for luring these bloodsuckers.
Fuld – Bananas
Cayne – definitely Doritos, (Nacho cheese)
Greenspan – Barbara Walters’ granny panties
Posted this somewhere her last night. It was actually quite entertaining. I wondered if the guy was mute. O’Reilly is angrier than we’ve ever seen him. This was just “the first” he promises others to follow. But, if you guys have some ideas or tips for the guy, by all means, send them to him because he will use everything at his disposal.
See his neighbors are the littler WS folk and there are now foreclosures in his neighborhood and his friends have lost their retirement funds. When it starts to hit home, people are suddenly interested.
You guys are fools… He deserves that and much more. He had the foresight to dump that overleveraged piece of crap before it fell into BoA’s hands. Sure he had a hand in it but he recognized how screwed up things got…
@ 11 – Stan was gone long before BofA – he was trying to sell to Wachovia on the sly, without even informing his own board. Thain sold it to BofA. Get your facts right before you start your verbal diarrhoea.
Hey, if the contract they signed with him says they will pay the guy X, that’s the deal he made, and if it’s a strong contract, more power to him. If there needs to be a change made, then that’s different… I do think he doesn’t ‘deserve’ it, but that’s very subjective.
Shareholders need to get a voice and some cojones, and tie their salaries more directly to performance, and kick out the directors on the boards if they’re offering these guys golden parachutes… but if they make a deal, then that is their deal.
Sucks that he got paid so much, but as a man of infinite(simal) wisdom once said, “Fool me once, shame on… shame on you… fool me… can’t get fooled again.”
@ 11…what’s your point? Are you pro/anti- Mr. O’Neal?
BO is just distracting himself by chasing CEOs of financial institutions.
He will soon be like one of those lonely, angry guys in a bar, pointing and jabbing his finger silently as his drink sloshes out and spills while doing it in a silent rage over the complete political destruction of right wing conservatives in the executive branch. Lou Dobbs will see it and say, “I used to be just like that” to no one in particular.
@9
everyone knows its cooler ranch doritos -not nacho cheese-
@ 11…what’s your point? Are you pro/anti- Mr. O’Neal?
Like the idea of dangling (fill in the blank) on a stick for luring these bloodsuckers.
Fuld – Bananas
Cayne – definitely Doritos, (Nacho cheese)
Greenspan – Barbara Walters’ granny panties
Like the idea of dangling (fill in the blank) on a stick for luring these bloodsuckers.
Fuld – Bananas
Cayne – definitely Doritos, (Nacho cheese)
Greenspan – Barbara Walters’ granny panties
For Maestro69 (Greenspan), clearly its condoms.
Fuld, an advance copy of Brickbreaker 2.
stan was the worst thing to happen to merrill. sweet job buying first franklin at the peak of the market
many people have lost their jobs here because of your arrogance
13 = a mind so open it is empty (idiot)
I think BO, notice he has the same initials as another BO, can’t believe what is happening. Don’t think he doesn’t have a nice 401K and other investments.
anyone know the total amount of people cut yesterday at mer?
i was one of them
$11billion in bonus pool at MS
+——————————————————————————+
Morgan Stanley’s Bonuses Get Saved By You and Me: Jonathan Weil
2008-10-21 04:01:03.0 GMT
Commentary by Jonathan Weil
Oct. 21 (Bloomberg) — Wall Street had it wrong: An
investment bank’s most precious asset isn’t the army of
employees who head down the elevators each day. It’s the
paychecks they take with them out the door.
You can imagine the devilish grins on the faces of Morgan
Stanley employees last week, after the Treasury Department said
it would pump $10 billion into the bank. Not only did we, the
taxpayers, save their company, with the help of a Japanese bank
named Mitsubishi UFJ Financial Group Inc. More importantly, we
funded their 2008 bonus pool.
Morgan Stanley has accrued $10.7 billion of employee-
compensation expense this year, almost twice as much as its
pretax earnings. The vast majority of this remuneration hasn’t
been paid yet. Now it probably will be, assuming the firm
survives through next month. Meantime, Morgan Stanley’s stock-
market value has dropped $34.7 billion, to $21 billion, since
the company’s fiscal year began.
The rescue of Morgan Stanley’s bonus pool is an unpleasant
downside of Treasury Secretary Hank Paulson’s decision to inject
$250 billion of cash into U.S. banks in exchange for preferred
stock. It is one thing for a company to pay much more to
employees than it earns for its shareholders. It’s quite another
to keep doing it while receiving taxpayer bailout bucks.
Before securities firms were public companies, a brokerage
in need of capital would have called on its partners to pony up.
That’s how it still works at private partnerships, such as law
firms. The reason they don’t get taxpayer rescues is they can’t
credibly threaten to take down the world’s financial system.
Global Threats
Morgan Stanley can. So can Paulson’s old firm, Goldman
Sachs Group Inc., which also is getting a $10 billion infusion
from Treasury. Year-to-date, Goldman has reported $11.4 billion
of compensation expense, almost twice its $5.9 billion of pretax
earnings. During the same span, its market capitalization has
fallen $41.7 billion, to $57.7 billion.
Morgan Stanley needed Treasury’s cash. Goldman didn’t, but
got it anyway. As long as Paulson can’t think of any better
ideas, the government will keep throwing money at an industry
that pays too many people more than they’re worth, to perform
services the world has too much of already. The bright side is
we avoid a global meltdown, for now.
Here’s all you really need to know to see who lost and who
benefited most at the Five Families of Wall Street, otherwise
known as Goldman, Morgan Stanley, Merrill Lynch, Lehman Brothers
and Bear Stearns. From the start of their 2004 fiscal years
through yesterday, the big standalone investment banks lost
about $83 billion of stock-market value. During the same period,
they reported about $239 billion of employee-compensation
expense.
Lined Pockets
So, for every dollar of shareholder value destroyed, the
employees got paid almost three. Only a sliver of that money
went to chief executives such as Goldman’s Lloyd Blankfein, who
got a $70.3 million package last year, and Lehman’s Richard
Fuld, who made $34.4 million. Morgan Stanley’s John Mack, by the
way, received $1.6 million for 2007.
The Five Families — now down to just Goldman and Morgan
Stanley — weren’t alone. Citigroup Inc., which is getting a $25
billion injection from Treasury, has reported $139.3 billion of
compensation expense since the start of 2004, more than double
its $62.8 billion of pretax earnings. Its market cap, by
comparison, has declined by about $168 billion, to $82 billion.
For all the complaints about outrageous executive pay and
how little Paulson is doing to curb it, a big reason why these
firms have been scrounging for capital is they keep blowing huge
wads of it on their rank-and-file, too. The Paulson plan will do
nothing to change that.
In the interim, we continue propping up an industry that’s
bloated with overcapacity, because we’re all too scared to let
the market fix it. That’s good for the people getting bonus
checks at Morgan Stanley and Goldman Sachs. It’s not so great
for the rest of us.
(Jonathan Weil is a Bloomberg News columnist. The opinions
expressed are his own.)
caine would want funyons
He’s a chatty Kathy!
Oh come on Bess, a sack of Bacon Egg’n Cheese McGriddles for Cayne.
You know that baby!
SO was fired for discussing sale of ML w/o board approval. Years later the new CEO, JT, sold ML at a fraction of the price and negotiated a $200 million parachute for senior execs. BO ambushed the wrong guy.
Like the idea of dangling (fill in the blank) on a stick for luring these bloodsuckers.
Fuld – Bananas
Cayne – definitely Doritos, (Nacho cheese)
Greenspan – Barbara Walters’ granny panties
Like the idea of dangling (fill in the blank) on a stick for luring these bloodsuckers.
Fuld – Bananas
Cayne – definitely Doritos, (Nacho cheese)
Greenspan – Barbara Walters’ granny panties
Wall Street’s current and former inept CEOs should all get a FREE invite to this years Assassin games.
(http://www.streetwars.net/)
I always thought Assassin was played on trading floors by turning out all the lights and having everyone slap each other’s faces in the dark for 5 minutes. When the lights come back on, the ones with the reddest faces were fired.
My, how things have changed…
Stan was warned by many about the problems in housing before he bought that piece of crap sub-prime lender.
The guy is a disgrace and should be exposed.
A mirror for Greenie and a punching (speed) bag for Fuld.
A mirror for Greenie and a punching (speed) bag for Fuld.
A mirror for Greenie and a punching (speed) bag for Fuld.
Re the multiple postings (BW’s granny panties)
The server must be going beserk. I post frequently and am familiar with the “one click process”, which I did — and then left the site (and my desk, actually)
I just returned and it appears BW’s granny panties have a life all their own.
My apologies for the multiple postings; I’m not sure what is going on. :(