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- The revised version of the Mortgage Bailout Plan was approved by the U.S. House of Representatives on October 3, 2008
- Approved in the U.S. Senate on October 1, 2008
- Financial system said to be in the worst crisis since the Stock Market Crash in 1929The Guardian: Top Wall Street Bankers...$70bn Pay Deal (October 17, 2008)
- Goldman Sachs and Citigroup are some of the banks rewarding their employees with bonuses despite benefiting from the Bailout PlanThe Guardian: Top Wall Street Bankers...$70bn Pay Deal (October 17, 2008)
- Citigroup accepted a $25 billion investment by the government through the bailout planThe Guardian: Top Wall Street Bankers...$70bn Pay Deal (October 17, 2008)
- Goldman Sachs accepted an investment of $11.4 billionThe Guardian: Top Wall Street Bankers...$70bn Pay Deal (October 17, 2008)
- Excessive salaries to executives are restricted by the text of the bailout billThe Guardian: Top Wall Street Bankers...$70bn Pay Deal (October 17, 2008)
- {{: item:2008 Financial Crisis}}
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Employees at several top Wall Street banks will receive about $70 billion in pay deals in 2008, according to news reports. The pay deals, much of which will be paid in bonuses, will be given despite several banks receiving financial assistance through the $700 billion government bailout plan devised to save the financial market. The pay deals were estimated to account for about 10% of the $700 billion bailout plan.The Guardian: Top Wall Street Bankers...$70bn Pay Deal (October 17, 2008)
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Banker 70 Billion Pay Deals Questions
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Why are Citigroup's $300 billion in loans considered risky by the bankers? 1 AnswerBecause they are loans from Citi to companies that are currently struggling in the recession. read more -
How will a derivatives central counter party reduce profit margins for Wall Street Bankers? 1 AnswerFor one those products will be standardized, and less "shadowy" than the ones that were available before. That will - in theory - improve the transparency and e... read more
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Chrysler agreed to accept $2 billion in cash for $6.8 billion in secure debt. How does this work? 1 AnswerThis site has the details of the chrysler issue. Hope this Helps! http://www.reuters.com/article/marketsNews/idCAN3032316420090430?rpc=44 read more
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What is Citigroups, potential $10 billion debt due in 2010? 1 Answersenior unsecured bonds and loans that the company has issued in the public debt markets over the last 15 years read more
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