Banks Allocate 86% ($108B) Of Bailout Towards Compensation And Bonuses!

9 11 2008

Amazingly my ongoing outrage at the Republican party has been outdone by my new found rage towards the heads of the banking industry.  I just read a letter the honorable Henry Waxman sent to the CEO of Wells Fargo where he chastises him and eight other banks for putting $108 billion of the currently allocated $125 billion tax payer bailout dollars towards compensation and bonuses.

This is so reprehensible as to defy credulity.  If there were calls for regulation and oversight before I think it is clear that there should now be calls for the seizure of all personal assets, arrests, and imprisonment for these cowards and honorless thieves.

All of Al Qaeda’s attempts to wound this country combined pale in comparison to the damage the US has suffered at the hands of these craven traitors.  I would stop short of the death penalty only because I want these tender pampered racketeers to spend the rest of their lives in Guantanamo getting the best Dick Cheney has to offer because they are domestic terrorists of the highest order and deserve no less.

(hat tip to Driftglass for the initial point to the Waxman letter)

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