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The Business Desk with Paul Solman

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"We Want Our Money Back"

A story about clawbacks slated to run on the NewsHour tonight features a protest disrupting a speech by Goldman Sachs CEO Lloyd Blankfein. Yesterday, the protesters struck again during a session with Larry Summers, unfurling a big pink banner behind him with the words "We Want our $$ Back." Check out the video:

Here's a write-up from the Washington Post and a Reuters dispatch on Summers' hedge fund pay, which prompted the protest .

Shame seems to be the weapon of choice in the clawback struggle these days.

-- Posted April 10, 2009 | Comments (2) | Permalink

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2 Comments

Jeff Bach said:

Granted that we cannot disagree with the outrageous size of so-called bonuses. Could we also consider that the entities that sign the cheques, must be either totally budget inept or running businesses that create turn-over of such inordinate magnitude, that the payments seem reasonable. If that is the case, one wonders that they may well be aware of making profits of ridiculous proportion. One doesn't give a salesman a bonus greater than the cost of the item sold. It is usually a percentage of the profit margin. I am not a citizen of the USA, and so have not been a US Tax Payer. I sympathize and am outraged that US tax payers are funding these greedy failures who add insult to injury by causing mass job losses.
Certainly demand recovery of 'bonuses', but also review the profit margins of the corporate world and do not ignore the continuance of these so called 'giants of industry'.


 
Jim Hodges said:

It's just not happened.


 

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