I sincerely hope no one's blown their load on the AIG bonus payout scandale just yet-- there's still so much more to work yourselves into an aneurysm-resulting tizzy over. Erin Burnett reports that among the $165 million in trash bags of money, personally delivered door to door by Ed Liddy, a significant amount of taxpayer cash is being stuffed in the mouths of employees based in London (i.e. these guys).
RBS: Those Libor Fines Don't Pay For Themselves!
Like many of its peers in the banking world, RBS used to make a habit of manipulating Libor (among other things). And, as recent reports suggest, the Royalest Bank of Scotland is probably going to be forced to cough up £300m (and fire a couple execs) to convince the government everyone is very sorry and it won't happen again. How does the bank, which has not had a money-making quarter since the financial crisis,* plan to come up with the cash? By 1) taking back bonuses that were already paid out to people who were involved in the scandal and 2) reducing everyone's bonus this year.