Goldman Sachs Group Inc (GS.N) Chief Financial Officer David Viniar said the bank is keen to avoid restrictions it agreed to after receiving funds from the U.S. government late last year and it is looking to pay the money back as soon as possible.
The investment bank, which received a $10 billion capital injection from the U.S. Treasury's Troubled Asset Relief Program in October, is not happy with the strings that came attached to the money.
Compensation restrictions and certain capital requirements were part of the original injection, and extra limitations may be in store after U.S. President Barack Obama imposed tough new rules limiting pay for companies receiving government aid.
On the same day that President Barack Obama announced a crackdown on Wall Street extravagance, Bank of America announced it is selling some of its corporate aircraft as it seeks to cut costs.
Three of its own corporate jets and Merrill Lynch's helicopter will be put up for sale, even though the market in such aircraft is glutted as big corporations seek to shed the trappings of excess.
Bank of America also saw its share price fall below $5 for the first time since 1990 following a five-day sell-off of its stock. Investors fear that mounting losses at the bank will result in the government nationalizing it, leaving shareholders high and dry.
Since October, Bank of America has received $45bn in government assistance, including a $20bn injection last month to help with its troubled Merrill Lynch acquisition.
Maybe even a communist, actually. Why does Donald Trump hate America?
Trump spoke with CNN's Larry King about whether there should be executive pay limits, if there should be a stimulus plan and when there could be an end to the economic downturn. The following is an edited portion of the interview.
Larry King: Is Obama right or wrong to go after these executives with salary caps?
Donald Trump: Well, I think he's absolutely right. Billions of dollars is being given to banks and others. You know, once you start using taxpayer money, it's a whole new game. So I absolutely think he's right.
King: What about the whole concept of bailouts?
Trump: Well, it's a little bit different. A lot of people are not in favor of bailouts. You know, we talked about all the different things going on in this country. Let's face it, Larry, we are in a depression.
If they didn't do the bailout, you would be in depression No. 2 and maybe just as big as depression No. 1, so they really had to do something. The problem is they're giving millions and billions of dollars to banks and the banks aren't loaning it.
If you are a prime customer of a bank and if you need 10 cents, you can't get it. The banks are out of business. They're not loaning. Now, billions of dollars has been given. They're supposed to be loaning out that money and they're using it for other purposes, so it is a real mess.
King: If you were in the Senate, would you vote for the stimulus plan?
Trump: Well, I'd vote for a stimulus plan. I'm not sure that all of the things in there are appropriate. Some of the little toys that they have are not really appropriate, and they're a little surprising that they seem to want it, because the publicity on it has been terrible.
I would certainly vote for a stimulus, but I would really vote for banks having to loan out the money because they're not doing that.
Quote by Raine:
LOOK at the Author of this Op-Ed in WaPo today!
:thud:HOW amazing is that?
Quote by wickedpam:Quote by Raine:
LOOK at the Author of this Op-Ed in WaPo today!
:thud:HOW amazing is that?
Very nice :D
Love the tag at the end :D
Quote by wickedpam:
Yep - and laid it all out there in plain english that everyone can understand in the manner an adult would.
Quote by Raine:
People like mona should not breed.
Quote by wickedpam:
cuse my language but really this woman so pissed me off
Quote by Raine:
But Bristol is ok???![]()
REALLY? REALLY?
Quote by Raine:Quote by wickedpam:
cuse my language but really this woman so pissed me off![]()
(I kinda think it is funny when you curse)
I won't repeat the words that Bobber heard come out of my mouth...
Quote by Scoopster:
Hey remember that really tragic thing about the Santa-suited guy who killed a bunch of people?
Well get this - The landlord of one of the dead victims wants her ex-husband to pay her late rent.
Quote by Scoopster:
Hey remember that really tragic thing about the Santa-suited guy who killed a bunch of people?
Well get this - The landlord of one of the dead victims wants her ex-husband to pay her late rent.
* After going on and on in detail about same-sex action, Haggard would then back off and tell Haas that he needed to find a good woman to marry. And listen to this: Haggard offered up his daughter as a dating/marriage prospect for Haas! Knowingly offering to guide his own daughter into a relationship with a closeted man!
Quote by Raine:
But Bristol is ok???![]()
REALLY? REALLY?
Quote by Raine:
Let me get this straight...
Linda Sanchez: Bad Role Model.
David Vitter: Private Family matter?
Quote by wickedpam:
is it me or is Steph yelly this morning?
Quote by starling310:
Michael Phelps has jumped the couch. Does anyone really give a sh*t if he smoked weed?!? I could tell he was a Frat Boy Pot head from a mile away. Sure, he's a great swimmer. Who cares? Seriously.
![]()
Quote by starling310:
I believesaid BBOX Rocks first. In fact, I believe I dubbed her "BBOX."
Just saying. . . .
:shrug:
Quote by starling310:
Michael Phelps has jumped the couch. Does anyone really give a sh*t if he smoked weed?!? I could tell he was a Frat Boy Pot head from a mile away. Sure, he's a great swimmer. Who cares? Seriously.
![]()
Quote by Raine:Quote by starling310:
I believesaid BBOX Rocks first. In fact, I believe I dubbed her "BBOX."
Just saying. . . .
:shrug:
You did indeed!!!
Quote by Raine:
Mona!
Quote by Scoopster:Quote by Raine:
Mona!
Lady Elaine Fairchild:
The Obamas have to pay for all their own groceries, drinks, dry cleaning and even their toothpaste. All of those personal items get taken out of his salary. Granted, the private chef then prepares dinner using those groceries.
The president's salary and perks have come under the spotlight since Sen. Claire McCaskill, D-Mo., introduced a bill that would cap annual executive pay at companies receiving government bailout money at $400,000.
Corporate America quickly pointed out that while the president also only makes $400,000 a year, he gets all sorts of extra perks and doesn't have to pay taxes on them.
Quote by Raine:
AND here comes the next winger Talking point....
HERe is just a sampling:The Obamas have to pay for all their own groceries, drinks, dry cleaning and even their toothpaste. All of those personal items get taken out of his salary. Granted, the private chef then prepares dinner using those groceries.
The president's salary and perks have come under the spotlight since Sen. Claire McCaskill, D-Mo., introduced a bill that would cap annual executive pay at companies receiving government bailout money at $400,000.
Corporate America quickly pointed out that while the president also only makes $400,000 a year, he gets all sorts of extra perks and doesn't have to pay taxes on them.![]()
The article also bitches that he has a *private Jet*
:WTF: This is truly one of the worst pieces of journalism I have seen.
Sens. Ron Wyden, D-Ore., and Olympia Snowe, R-Me., have put forward a plan to claw back bonuses already paid to senior executives at firms that received TARP money in the final quarter of 2008.
It would give companies a choice: either they could return any amount paid in bonuses over $100,000 to executives immediately, or pay a 35% excise tax on the bonus over $100,000. Wyden argued the firms borrowed billions from the Treasury and will have to pay back the full amount over time. His amendment would enable them to avoid the penalty tax by paying an amount equivalent to the excess bonus amounts back within 120 days of the stimulus bill being passed.
"This is wrong, this is not right to give these excessive bonuses with taxpayer money," said Wyden on the floor of the Senate.
Quote by velveeta jones:
Hey all. Driving by to view the blog and be in touch. I am home today because Aunt Azalea's arthritis is really bad and she cannot move. Her spine is very fragile and she is having severe muscle spasms. I am waiting for the Doctor to call for muscle relaxers.
:kickcan:
I hate to see her in pain......
Quote by velveeta jones:
Hey all. Driving by to view the blog and be in touch. I am home today because Aunt Azalea's arthritis is really bad and she cannot move. Her spine is very fragile and she is having severe muscle spasms. I am waiting for the Doctor to call for muscle relaxers.
:kickcan:
I hate to see her in pain......
Quote by velveeta jones:
Hey all. Driving by to view the blog and be in touch. I am home today because Aunt Azalea's arthritis is really bad and she cannot move. Her spine is very fragile and she is having severe muscle spasms. I am waiting for the Doctor to call for muscle relaxers.
:kickcan:
I hate to see her in pain......
Quote by Raine:
Did anyone else know that Elaine Chao was married to Mitch McConnell?
Quote by Scoopster:Quote by Raine:
Did anyone else know that Elaine Chao was married to Mitch McConnell?
Yeah, I've known that for a loong time.. I figured it's the reason Mitch is being a huge dick on the Solis nomination..
The delay was announced moments after USA Today reported that Solis’ husband had recently paid off $6,400 in tax liens on an auto shop he owns in Los Angeles.
Here is the briefest of brief recaps: Once upon a time there was this Congresslady, Hilda Solis (pictured above right, with Fruit), who was sympathetic to labor interests and in fact served on the board of some pro-labor group called American Rights at Work. ARW lobbied for the Employee Free Choice Act, which Solis also sponsored. If you do not care for unions, this is an egregious wrongdoing and a textbook conflict-of-interest case. If you are pro-union, this is not a big deal at all because Solis only served in a “well-known and ceremonial role.”
Anyway, Solis was nominated for Secretary of Labor, a move which should not have surprised any Republicans, as Barack Obama made it pretty clear that he hearts unions. However, Republicans have professed shock and outrage that this terrible labor shill might get a spot in the cabinet.
Quote by velveeta jones:
Hey all. Driving by to view the blog and be in touch. I am home today because Aunt Azalea's arthritis is really bad and she cannot move. Her spine is very fragile and she is having severe muscle spasms. I am waiting for the Doctor to call for muscle relaxers.
:kickcan:
I hate to see her in pain......
Quote by velveeta jones:
Thanks ya'll for your kind prayers and thoughts. We await the pills from the drugstore! *sigh*
Meantime, we are watching C-SPAN interrogation, er, questioning of Panetta.
Quote by TriSec:
Passing through...
I've been listening to an 80s channel most of the day on iTunes....interesting to remember when a lot of this stuff were *songs* instead of commercials...
Anyway, I digress.
Quote by Scoopster:
:o There's some King Missile on my iTunes stream. Now that was unexpected..
Quote by Mondobubba:
Man Robs Store With Bat'leth
The clerk refused and the robber "transported" himself out of the store on foot.
Both clerks described the weapon as a Star Trek Klingon-type sword, called a "bat'leth."
Quote by Raine:Quote by Mondobubba:
Man Robs Store With Bat'leth
:rofl:The clerk refused and the robber "transported" himself out of the store on foot.
Both clerks described the weapon as a Star Trek Klingon-type sword, called a "bat'leth."
:spit: That is as funny as the thief Using the sword, that both clerks knew it!
"I was disappointed by those comments, because the implication is that somehow this country is more vulnerable to attack because the president of the United States wants to abide by the law and the Constitution. I think we’re a stronger nation when we abide by the law and the Constitution."
Quote by Raine:
If you haven't seen this, it's funny. James Lipton recreates the Christian Bale...
Quote by Raine:
SCOOP! HELP!
What do you make of this story?
I call Bullshit Myself... It just sounds too strange and wierd.
Quote by Scoopster:
WTF!!!!! My DK account is locked.
Alright NOW I'M PISSED.
Quote by Raine:WTF?Quote by Scoopster:
WTF!!!!! My DK account is locked.
Alright NOW I'M PISSED.
Quote by Scoopster:
Nope.. once an account is locked it's gone.
I've had that account for five years....... :rage:
I can make a new account, with a completely new email address, but it won't be ME.