Bank robbery

Just in case your blood pressure has been falling, the AP files a report reminding us that the very same leadership of the banks that failed so miserably that the Feds showered them with $700B of your money & mine—those highly-compensated morons that had a huge hand in sending the global economy into freefall are still in their executive offices with no oversight by anyone but the boards that let them destroy assets like a demolition derby.

To put it into perspective, more than 200,000 jobs across the country have been lost since the beginning of this month. Yes, that’s in less than a month—people who were taxpaying, productive contributors to their community who haven’t really done anything to screw over their neighbors have been fired but the perpetrators of the debacle are secure in their multi-million-dollar positions.

Seems our Congress-slime handed over the billions without requiring that the banks supply a plan for making changes, starting with turning over senior management.

The banks are making sacrifices, though. Poor old Citigroup sullenly announced that it’s not, after all, going to complete purchase of a new $50M corporate jet. They didn’t do this voluntarily; the Obama administration had to draw them the pictures of how outrageous it is that they’d blow that kind of dough on such a limited-value asset when they’d just filled their begging bowl with $45B of our money.

They actually had the nerve to counter that they weren’t going to use “government money” for the purchase—as though you can separate that kind of thing from the pool.

This is precisely why it’s ludicrous that the men (& the vast preponderance of them are indeed Y-chromosome-challenged) who made these kinds of decisions over the past few years are allowed to keep their positions on our nickel(s).

Talk about foxes running the henhouse...