Posted by Leonard Steinberg on November 27th 2013 Another story of mis-guided righteousness has emerged today: As a reaction to the outrage over excessive banker-pay, starting in 2009, the biggest Wall Street firms were pressured to pay their top money-makers in restricted stock, which usually vested in 3 or 5 years, rather than cash bonuses. The… [Read More]
TARP PROFITS! TEA PARTY TO CELEBRATE?
The U.S. government, which announced Monday that it plans to slowly unload its 27% stake in Citigroup Inc. over the remainder of this year, currently stands to pocket an $8 billion profit on the investment from last September. That’s a remarkable 30% return in six months, or triple the return generated by the average hedge… [Read More]