I say if the banks don't want to go bust then they should claw back some of the millions spent on bonuses and gold plated pensions. How can anyone who works for a bank expect to get silly money like this when the banks have done so badly.
Bankrupt the greedy bankers
and lets have a bank run by the people for the people.
Look at this guy....
Quote:
NEW YORK (CNN) -- A federal bankruptcy judge Tuesday approved the release of more than $28 million in assets belonging to accused swindler Bernard Madoff to pay for the administrative costs related to his case.
Madoff is accused of bilking investors out of some $50 billion through a Ponzi scheme that he allegedly ran through his investment advisory business.
According to papers filed in federal bankruptcy court in Manhattan on Friday, the Bank of New York Mellon Corp. (BK, Fortune 500) has agreed to transfer the money to the federally appointed trustees presiding over the liquidation of Madoff's investment firm.
The court papers said that $883,000 had already been transferred to the trustees to pay employees' salaries and health care benefits. ~ Why??? They are conmen, They don't get paid full stop
According to representatives for the trustees, the funds are needed to pay employee salaries and other costs. ~ Define other costs???
The trustee would also sell off assets to recover funds for the investors who lost money held by Madoff, the trustees' representative Richard Bernard told the court on Tuesday.
Madoff remains in his Manhattan apartment under 24-hour house arrest. ????? ~ Whatever happened to Prison like everyone else??His $10 million bail was secured by properties owned by Madoff and his wife, including the Manhattan apartment and a Palm Beach estate.
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$10 million bail was secured by property??? Whats that about, he bought those properties with the proceeds of crime, how can he use that as bail??? Its like i've just robbed the bank of 5 million and then using that money for my bail !!
Why are governments so scared to do the right thing???
01-03-2009, 07:39 AM
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