$19,000,000 in bonuses for the leaders of FDIC and other agencies - New England Patriots Forums

***DarrylS*** · 03-19-2010, 12:20 PM

Another WTF moment brought to you by the people in DC, apparently during the period of 2003-2006 the agencies who supervise banks; the Federal Deposit Insurance Corp., the Office of Thrift Supervision and the Office of the Comptroller of the Currency — gave out at least $19 million in bonuses, records show...deregulation or lack of oversight????

Thank god for the Freedom of Info act...

The Associated Press: Govt rewarded bank auditors with big bonuses

Quote:

Nearly all that money was spent recognizing "superior" performance. The largest share, more than $8.4 million, went to financial examiners, those employees and managers who scrutinize internal bank documents and sound the first alarms. Analysts, auditors, economists and criminal investigators also got awards.

After the meltdown, the government's internal investigators surveyed the wreckage of nearly 200 failed banks and repeatedly found that those regulators had not done enough:

Holy Diver · 03-19-2010, 12:55 PM

AMERICA!

rewarding failure since 2000!

Enron
AIG
Halliburton
KBR
Blackwater

(feel free to add to this list)

***DarrylS*** · 03-19-2010, 01:05 PM

These bonuses along with all the ones on Wall Street are designed to keep our "best and brightest"...