Digg Townhall now online!
Check out the latest Digg Townhall, where Kevin and Jay answered the top questions from the Digg Community!
Lehman's Golden Parachutes Were Being Secured To Execs
huffingtonpost.com — Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday.
centerzero- 80 diggs
- digg it
- berryessence, on 10/06/2008, -2/+1DEM BITCHES!
Don't worry...they will die of greed one by one over the next 10 years......why i say that:
OJ is freed in 1995
OJ is guilty in 2008
3 out of 5 lawyers are DEAD... Heart attacks
don't calll me a racist....i'm black as hell - hydrodev, on 10/06/2008, -0/+5we all need to rise up, and take the power back!
- psy333che, on 10/06/2008, -1/+4 I saw the interview in front of the HouseI think it was today with the CEO as he tried to rationalize the millions he took out
Oh and to the idiots who do not read ..this is the truth and it is not the Democrats at all...
On Monday, the House Oversight and Reform Committee took a look into the collapse of Lehman Brothers as part of a larger review of the factors leading to the current economic crisis, and it wasn’t a pretty sight. Judging by the committee’s account, leaders at Lehman Bros. disregarded key warnings of impending trouble and cut hefty checks for their fellow executives even as the firm teetered on the brink of disaster.
The New York Times:
The first Congressional hearing into the causes of the financial crisis began with a portrayal of Lehman Brothers as a firm run by irresponsible leaders who continued to reward executives and spend billions on stock buybacks and other capital-depleting programs even as internal documents warned about the impending crisis.
“It was a company in which there was no accountability for failure,” the chairman of the House Oversight and Governmental Reform Committee, Henry A. Waxman, said in his opening statement.
One Lehman document among thousands reviewed by the House committee showed that four days before the bank filed for bankruptcy protection, Lehman’s compensation committee was asked to grant $20 million in “special payments” for three executives who were leaving, Mr. Waxman said. An e-mail exchange recommending a delay in bonus payments was apparently brushed aside.
http://www.nytimes.com/2008/10/07/business/economy ...- osko2052, on 10/06/2008, -0/+1Sorry you lost me. I'm an idiot who can't read.
- nernie, on 10/06/2008, -0/+3It's slimy dealings like these that make the McCain-Keating scandal so damaging to him right now--the parallels are eerie. We need more integrity in our government.
It starts with us demanding it, and that starts with EVERY citizen taking a stand and voting: http://make.ourpledgetovote.com/ - magus_melchior, on 10/07/2008, -0/+2'Republicans dismissed the hearing as little more than a political stunt given that it failed to probe the role of Fannie Mae and Freddie Mac _ huge players in the mortgage market _ in the financial meltdown.
"If you haven't discovered your role today, you're the villain, so you have to act like the villain," Rep. John Mica, R-Fla., told Fuld facetiously, earning a tight smile.
In a statement, Rep. John Boehner, R-Ohio, the House minority leader, accused Waxman of refusing to investigate the mortgage giants "solely to shield his fellow Democrats politically," and said it "cheats the American people of key facts that could help all of us learn how we got here _ and what we must do to make certain this situation never repeats itself."'
That's despicable. They didn't lift a finger all these years, they were party to letting Lehman go down in flames, thus collapsing the house of cards that is our stock market, and they blame the Democrats?
Mica, Boehner, hold your own damn hearings of the FMs. Don't bitch at the Democrats, because that accomplishes exactly nothing.
Check out the new & improved 
© Digg Inc. 2008 — Content posted by Digg users is