Found this somewhere and thought it interesting
Re: Translate latin conversation in the movie Tombstone
Doc : In vino veritas.
Ringo : Age quod agis.
Doc : Credat Judaeus Apella, non ego.
Ringo : Juventus stultorum magister.
Doc : In pace requiescat!
Doc : In wine there is truth.
Doc Holiday is excusing his own behavior here, and further insulting Johnny Ringo by saying that he is drunk, and saying truthful things he would otherwise not reveal. He had previously said he hated Johnny Ringo for being similar to himself.
Ringo : Do what you do / Watch what you do.
This is one of the most interesting lines because it means more than just watch what you do. The line can be interpreted as be careful, or people do what they do (saying that Doc Holiday is drunk because he is a drunkard), and it can also mean something along the lines of do what you do best, which would be gunfight since Ringo had apparently heard of Holiday's skill. It is a challenge and an insult combined into one.
Doc : Tell it to someone else, not I.
This line is dismissive. Doc Holiday is conveying the fact that he doesn't care what Johnny Ringo is saying and that he doesn't care what his advice is.
A common Latin saying meaning tell it to someone else, not me.
The reference is taken from the work Satires (book one, satire five) by ancient poet Horace. It is derived from a scene where people try to convince travellers of miracles happening at their shrines. The phrase is uttered to convey the disbelief and that they should tell their stories to someone else.
Ringo : Youth is the teacher of fools.
When Ringo taps his pistol he says this, which conveys the idea that Doc Holiday is inexperienced (youthfull) and ignorant of the danger he is getting himself into.
"
Doc : Rest in peace!
To end the conversation Doc Holiday throws the previous warning back into Ringo's face. Doc tells him to rest in peace, or to die, because Ringo is unaware of the danger that Doc presents.
http://www.youtube.com/watch?v=QmdfD2byTuY for movie scene
Tuesday, January 12, 2010
Duh, the Bible was written when it says.....
When Was the Bible Really Written?
FOXNews.com
By decoding the inscription on a 3,000-year-old piece of pottery, an Israeli professor has concluded that parts of the bible were written hundreds of years earlier than suspected.
The pottery shard was discovered at excavations at Khirbet Qeiyafa near the Elah valley in Israel -- about 18 miles west of Jerusalem. Carbon-dating places it in the 10th century BC, making the shard about 1,000 years older than the Dead Sea scrolls.
Professor Gershon Galil of the University of Haifa deciphered the ancient writing, basing his interpretation on the use of verbs and content particular to the Hebrew language. It turned out to be "a social statement, relating to slaves, widows and orphans," Galil explained in a statement from the University.
The inscription is the earliest example of Hebrew writing found, which stands in opposition to the dating of the composition of the Bible in current research; prior to this discovery, it was not believed that the Bible or parts of it could have been written this long ago.
[note: "not believed" by scholars who play fast and loose with biblical history and use "analytical" methods that would be laughed at in any other historical discipline]
According to Israeli newspaper Haaretz, current theory holds that the Bible could not have been written before the 6th century B.C.E., because Hebrew writing did not exist until then. [note so much for that theory - much like the "no Hittite" theory]
English translation of the deciphered text:
1' you shall not do [it], but worship the [Lord].
2' Judge the sla[ve] and the wid[ow] / Judge the orph[an]
3' [and] the stranger. [Pl]ead for the infant / plead for the po[or and]
4' the widow. Rehabilitate [the poor] at the hands of the king.
5' Protect the po[or and] the slave / [supp]ort the stranger.
The University of Haifa
http://www.foxnews.com/scitech/2010/01/08/bible-really-written/
http://samsonblinded.org/news/jews-wrote-3000-years-ago-15557
FOXNews.com
By decoding the inscription on a 3,000-year-old piece of pottery, an Israeli professor has concluded that parts of the bible were written hundreds of years earlier than suspected.
The pottery shard was discovered at excavations at Khirbet Qeiyafa near the Elah valley in Israel -- about 18 miles west of Jerusalem. Carbon-dating places it in the 10th century BC, making the shard about 1,000 years older than the Dead Sea scrolls.
Professor Gershon Galil of the University of Haifa deciphered the ancient writing, basing his interpretation on the use of verbs and content particular to the Hebrew language. It turned out to be "a social statement, relating to slaves, widows and orphans," Galil explained in a statement from the University.
The inscription is the earliest example of Hebrew writing found, which stands in opposition to the dating of the composition of the Bible in current research; prior to this discovery, it was not believed that the Bible or parts of it could have been written this long ago.
[note: "not believed" by scholars who play fast and loose with biblical history and use "analytical" methods that would be laughed at in any other historical discipline]
According to Israeli newspaper Haaretz, current theory holds that the Bible could not have been written before the 6th century B.C.E., because Hebrew writing did not exist until then. [note so much for that theory - much like the "no Hittite" theory]
English translation of the deciphered text:
1' you shall not do [it], but worship the [Lord].
2' Judge the sla[ve] and the wid[ow] / Judge the orph[an]
3' [and] the stranger. [Pl]ead for the infant / plead for the po[or and]
4' the widow. Rehabilitate [the poor] at the hands of the king.
5' Protect the po[or and] the slave / [supp]ort the stranger.
The University of Haifa
http://www.foxnews.com/scitech/2010/01/08/bible-really-written/
http://samsonblinded.org/news/jews-wrote-3000-years-ago-15557
Monday, August 10, 2009
Huckleberry says Hmmm.
I Kings 4:32-34 says this about King Solomon, reportedly the wisest man in the world,
32 And he spake three thousand proverbs: and his songs were a thousand and five.
33 And he spake of trees, from the cedar tree that is in
Lebanon even unto the hyssop that springeth out of the wall: he spake also of beasts, and of fowl, and of creeping things, and of fishes.
34 And there came of all people to hear the wisdom of Solomon, from all kings of the earth, which had heard of his wisdom.
King Solomon wrote these lines from Ecclesiastes.
Let us hear the conclusion of the whole matter: Fear God, and keep his commandments: for this is the whole duty of man. For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil.
Ecclesiastes 12:13-14
If I were a coach, I'd say something like "Lack of contemplation of the end game lends itself to one committing foolish errors in the game of life."
But, I tend more towards the illustrious Dr Ben Franklin who might put it “Haste makes waste.”
Don't let life lose its meaning in the blur of living....till it becomes so much radio ga ga.
32 And he spake three thousand proverbs: and his songs were a thousand and five.
33 And he spake of trees, from the cedar tree that is in
Lebanon even unto the hyssop that springeth out of the wall: he spake also of beasts, and of fowl, and of creeping things, and of fishes.
34 And there came of all people to hear the wisdom of Solomon, from all kings of the earth, which had heard of his wisdom.
King Solomon wrote these lines from Ecclesiastes.
Let us hear the conclusion of the whole matter: Fear God, and keep his commandments: for this is the whole duty of man. For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil.
Ecclesiastes 12:13-14
If I were a coach, I'd say something like "Lack of contemplation of the end game lends itself to one committing foolish errors in the game of life."
But, I tend more towards the illustrious Dr Ben Franklin who might put it “Haste makes waste.”
Don't let life lose its meaning in the blur of living....till it becomes so much radio ga ga.
Sunday, August 9, 2009
Huckleberry says, Look up
Sometimes we don't take the time to appreciate the wonders about us. The moon was full recently…September the full moon is called the Hunter’s Moon and October the Harvest Moon. When we compare ourselves and our problems to the vastness of the cosmos and the Hand behind it, somehow hope grows a little stronger.
The opening words of a Christian hymn echo the words of the Psalmist concerning the Glory of God’s creation. Only with the advent of the Hubble Telescope have we been able to appreciate how wondrous are the heavens.
.
How Great Thou Art –
O Lord my God, When I in awesome wonder,
Consider all the worlds Thy Hands have made;
I see the stars, I hear the rolling thunder,
Thy power throughout the universe displayed.
Psalm 19
1 The heavens declare the glory of God;
the skies proclaim the work of his hands.
2 Day after day they pour forth speech;
night after night they display knowledge.
3 There is no speech or language
where their voice is not heard.
4 Their voice goes out into all the earth,
their words to the ends of the world.
These are a few of the many amazing pictures of our incredible universe captured by the Hubble telescope.
Omega Centauri
cluster of galaxies
spiral galaxy
edge on galaxy
Hoag’s object
more at: http://hubblesite.org/gallery/album/entire/
The opening words of a Christian hymn echo the words of the Psalmist concerning the Glory of God’s creation. Only with the advent of the Hubble Telescope have we been able to appreciate how wondrous are the heavens.
.
How Great Thou Art –
O Lord my God, When I in awesome wonder,
Consider all the worlds Thy Hands have made;
I see the stars, I hear the rolling thunder,
Thy power throughout the universe displayed.
Psalm 19
1 The heavens declare the glory of God;
the skies proclaim the work of his hands.
2 Day after day they pour forth speech;
night after night they display knowledge.
3 There is no speech or language
where their voice is not heard.
4 Their voice goes out into all the earth,
their words to the ends of the world.
These are a few of the many amazing pictures of our incredible universe captured by the Hubble telescope.
Omega Centauri
cluster of galaxies
spiral galaxy
edge on galaxy
Hoag’s object
more at: http://hubblesite.org/gallery/album/entire/
From Barry McGuire’s Eve of Destruction to REM’s It’s the End of the World as We Know It and Billy Joel’s We Didn’t Start the Fire, one can see that the more things change the more they remain the same.
We live in a time compared to the Great Depression…..but let us not forget that during the Great Depression the hardships were much greater (pictorial), the unemployment rate much higher and the economic devastation unparalleled.
Those were times when our nation was Under Pressure.
In 1932 the nation suffered:
• 23.6% unemployment. (August 2009 - 9.4%)
• 40% of banks (10,000) failed since 1929.
• 13,000,000+ Americans have lost their jobs since 1929.
• GNP falls a record 13.4%; falling 31% since 1929.
• Industrial stocks lost 80% of their value since 1930.
• 53% drop in farm prices since 1929.
• 2/3 drop in International trade since 1929.
• 31% contraction in the money supply since 1929.
• 98% drop in capital growth investments since 1929.
• Top tax rate is raised from 25% to 63%.
• The middle class comprises only 15 to 20% of all
Americans.
• By 1929, the richest 1% own 40% of the nation's wealth.
The bottom 93% experienced a 4% drop in real disposable income between 1923 and 1929.
So, while it’s bad, it could be worse…..
What is scary is the amount of interest we pay on the national debt because it could lead to a Greater Depression.
The National Debt is about $11.6 TRILLION Dollars. How much is a TRILLION Dollars?
In Fiscal Year 2008, the U. S. Government spent $412 Billion of your money on interest payments.
Interest represents the 3rd largest expense in the federal budget. See below chart from http://www.federalbudget.com/
There is no easy way out. At one time, the federal deficit about equaled what we had spent to save the world during the cold war era…….but, now it gets bigger because the house of cards our economy is built on is being shaken as we wade deeper into our economic Big Muddy trying to bail out the economy from nearly being "greeded to death" by higwaymen masquerading as business executives or financiers.
We live in a time compared to the Great Depression…..but let us not forget that during the Great Depression the hardships were much greater (pictorial), the unemployment rate much higher and the economic devastation unparalleled.
Those were times when our nation was Under Pressure.
In 1932 the nation suffered:
• 23.6% unemployment. (August 2009 - 9.4%)
• 40% of banks (10,000) failed since 1929.
• 13,000,000+ Americans have lost their jobs since 1929.
• GNP falls a record 13.4%; falling 31% since 1929.
• Industrial stocks lost 80% of their value since 1930.
• 53% drop in farm prices since 1929.
• 2/3 drop in International trade since 1929.
• 31% contraction in the money supply since 1929.
• 98% drop in capital growth investments since 1929.
• Top tax rate is raised from 25% to 63%.
• The middle class comprises only 15 to 20% of all
Americans.
• By 1929, the richest 1% own 40% of the nation's wealth.
The bottom 93% experienced a 4% drop in real disposable income between 1923 and 1929.
So, while it’s bad, it could be worse…..
What is scary is the amount of interest we pay on the national debt because it could lead to a Greater Depression.
The National Debt is about $11.6 TRILLION Dollars. How much is a TRILLION Dollars?
In Fiscal Year 2008, the U. S. Government spent $412 Billion of your money on interest payments.
Interest represents the 3rd largest expense in the federal budget. See below chart from http://www.federalbudget.com/
There is no easy way out. At one time, the federal deficit about equaled what we had spent to save the world during the cold war era…….but, now it gets bigger because the house of cards our economy is built on is being shaken as we wade deeper into our economic Big Muddy trying to bail out the economy from nearly being "greeded to death" by higwaymen masquerading as business executives or financiers.
Saturday, August 8, 2009
Huckleberry on Mozart
In between huckleberrying, I went to a a Marsh Symphony on the Prairie Mozart by Moonlight concert at Conner Prairie in Fishers, Indiana. I was delighted with the music, the venue and the peacefulness of the sun setting over the remains of green prairie.
Folks, there is till time to catch this great outdoors experience with the symphony and the music of Queen, America, Glenn Miller and more. The Indianapolis Symphony Orchestra is one of only about 20 full-time orchestras in the nation..enjoy this treasure and refresh the soul.....being a huckleberry is not for the faint-hearted.
Music washes away from the soul the dust of everyday life.
~Berthold Auerbach
Take a music bath once or twice a week for a few seasons. You will find it is to the soul what a water bath is to the body.
~Oliver Wendell Holmes
There is nothing in the world so much like prayer as music is.
~William P. Merrill
Music cleanses the understanding; inspires it, and lifts it into a realm which it would not reach if it were left to itself.
~Henry Ward Beecher
Music produces a kind of pleasure which human nature cannot do without.
~Confucius
Folks, there is till time to catch this great outdoors experience with the symphony and the music of Queen, America, Glenn Miller and more. The Indianapolis Symphony Orchestra is one of only about 20 full-time orchestras in the nation..enjoy this treasure and refresh the soul.....being a huckleberry is not for the faint-hearted.
Music washes away from the soul the dust of everyday life.
~Berthold Auerbach
Take a music bath once or twice a week for a few seasons. You will find it is to the soul what a water bath is to the body.
~Oliver Wendell Holmes
There is nothing in the world so much like prayer as music is.
~William P. Merrill
Music cleanses the understanding; inspires it, and lifts it into a realm which it would not reach if it were left to itself.
~Henry Ward Beecher
Music produces a kind of pleasure which human nature cannot do without.
~Confucius
Friday, August 7, 2009
Huckleberry says "Highwaymen disguise selves as Bank Executives, loot vaults. Taxpayers on the hook."
“Highwaymen disguise selves as Bank Executives, loot vaults” .......sounds like a headline in one of our more boisterous print publications. But, after the release of a report by the Attorney General of New York on bank bonuses and losses at nine of the original recipients of government aid, one might think, “Quite an accurate notion my lad” Highwaymen in the executive office,,,,sounds as scary as Werewolves in London...
Before looking at Cuomo's report let's look back to the days of yore when banks were robbed by outsiders.....back to the days of the Great Depression
With the successful release of the movie Public Enemies, the Depression Era image of the “bank robber” as a folk hero has been the subject of discussion. Turner Classic Movies has played a raft of prison movies of late. In Public Enemies, Johnny Depp capturing John Dillinger’s charm and while one too many of the “good guys” turned out to be brutal thugs or egomaniacs……(hint: famous vacuum cleaner)
Another famous bank robber of the era was “Willie Sutton”.
Willie Sutton acquired two nicknames, "The Actor" and "Slick Willie," for his ingenuity in executing robberies in various disguises. Fond of expensive clothes, Sutton was described as being an immaculate dresser. Although he was a bank robber, Sutton had the reputation of a gentleman; in fact, people present at his robberies stated he was quite polite.
One victim said witnessing one of Sutton's robberies was like being at the movies, except the usher had a gun.
When asked why he robbed banks, Sutton simply replied, "Because that's where the money is."
Sutton was an accomplished bank robber. He usually carried a pistol or a Thompson submachine gun. "You can't rob a bank on charm and personality," he once observed.
In an interview in the Reader's Digest published shortly before his death, Sutton was asked if the guns that he used in robberies were loaded. He responded that he never carried a loaded gun because somebody might get hurt. He stole from the rich and kept it.
It is estimated that Willie Sutton stole perhaps $2 million in his career, and spent more than half his adult life in prison.
Had Willie and Dillinger lived today, they would be amazed that by being a “bank robber” you would get locked up or killed, but if you were part of the executive crew you could earn more in “bonus” money in a year than they earned in their entire lives…and some earn enough “bonus” money in a year to live the rest of their lives as royalty. Somehow if you substitute the term “protection money” for “bonuses” the picture becomes clearer even if the MO’s were different. Who needs a submachine gun when you have a loaded compensation committee....and bankers dress nice and have "city"
manners.....hmmm.. who learned from who.
In my last huckleberrying, I expressed consternation on the perverse effects of “greed” in American business. Especially as reflected in outrageous executive compensation, due to the corrosive effect such levels of compensation has on the fundamental social contract behind American“ capitalism”. In a bit of fortuitous timing that New York Attorney General Andrew M. Cuomo released a bank bonus report on July 30th aptly entitled
NO RHYME OR REASON:
The Heads I Win, Tails You Lose I Bank Bonus Culture
An analysis of the 2008 bonuses and earnings of six of the original nine TARP recipients illustrates the point that it appears there are “highwaymen” in the executive suite....making more in a year as out-of-control insider "bank robbers" than all of ther Depression Era bank robber put together.
How else to explain the giving of bonuses in the BILLIONS of dollars when the banks BILLIONS more in losses leaving the taxpayer to finance lending these banks well over $100 BILLION initially.
These are the same banks that are sucking the lifeblood out of cash-strapped, debt-laden consumers who make up a large part of the bank’s base and generate an even larger share of profits per capita through the banks “user-friendly” courtesy overdraft protection, through sorting banking transaction in the order to maximize overdraft and overlimit fees. Over forty-four percent of of all banks and credit unions have overdraft income greater than net income.
No gentlemen bandits here amongst the educated financial set, educated in “useless in formation”, to borrow a line from Mick Jagger in I Can't Get No Satisfaction,......ignorant of the true riches in life, MERE HIGHWAYMEN DISGUISED AS EXECUTIVES.
Hello, has anyone read anything beyond the next quarter’s earnings forecasts???? Is there nothing more to life than $$$$?? Even the simplest farmer knows you can force plants to grow quickly with fertilizer but the growth has no depth….Giant Redwoods grow slowly, but last forever. But, HIGHWAYMEN wouldn't know much more than what is in it for them around the next turn.
Excerpt from Cuomo Report-all losses, bonuses and aid are for 2008.
$B = Billion Dollars
Two firms
Citigroup-LOSS- $27B; BONUSES-$5.33B
Merrill Lynch-LOSS- $27B; BONUSES-$3.6B
Totals LOSSES-$54B; BONUSES-$9B
GOVT AID $55B
Three Firms
Goldman Sachs, LOSS-$2.3B; BONUSES-$4.B
Morgan Stanley LOSS-$1.7B; BONUSES-$4.5B
JP.MorganChase LOSS-$5.6B; BONUSES-$8.7B
Totals LOSS-$9.6B; BONUSES-$18B
GOVT AID $45B
Bank of America had 172 employees that received at a bonus of at least $1 million each.
The breakdown of these bonuses is interesting and similar to most of the other banks in the study......
The top four recipients received a combined $64.01 million.
The next four bonus recipients received a combined $36.85 million.
The next six bonus recipients received a combined $31.39 million.
Four individuals received bonuses of $10 million or more and combined they received
$64.01 million.
Eight individuals received bonuses of $8 million or more.
The Cuomo report noted:
"[L]arge payouts became a cultural expectation at banks and a source of competition among the firms. ….Clearly, the compensation structures in the boom years did not account for long-term risk, and huge paydays continued while the firm faced extinction."
The Cuomo report also noted:
“…. one thing is clear from this investigation to date: there is no clear rhyme or reason to the way banks compensate and reward their employees. compensation for bank employees has become unmoored from the banks' financial performance.
• when the banks did well, their employees were paid well.
• when banks did poorly, their employees were paid well.
• when the banks did very poorly, they were bailed out by
taxpayers and their employees were still paid well.
Bonuses and overall compensation did not vary significantly as profits diminished. Indeed, our investigation suggests a disconnect between compensation and bank performance that resulted in a "heads I win, tails you lose" bonus system. In other words, bank compensation structures lacked consistent principles and tended to result in a compensation system that was all "upside."
Like the iceberg that struck the Titanic, the executive compensation problem in the banking industry is just the tip of the problem.....Indsustry leaders and executives need to look at the Man in the Mirror and change.....give aid to the poor and defenseless...don't heap more than is humanly needed into your pockets just because you can.....folks if most Americans earned a Million Dollars in a year they would be set for life....put it in perspective huck says.
In 2006, only the income level of the top 5% earned over $174,000. The median income in 2006 was only about $58,000...The mdeian is the point where 1/2 the people earn more than that and half earn less.
and, that's the world tonite.
Before looking at Cuomo's report let's look back to the days of yore when banks were robbed by outsiders.....back to the days of the Great Depression
With the successful release of the movie Public Enemies, the Depression Era image of the “bank robber” as a folk hero has been the subject of discussion. Turner Classic Movies has played a raft of prison movies of late. In Public Enemies, Johnny Depp capturing John Dillinger’s charm and while one too many of the “good guys” turned out to be brutal thugs or egomaniacs……(hint: famous vacuum cleaner)
Another famous bank robber of the era was “Willie Sutton”.
Willie Sutton acquired two nicknames, "The Actor" and "Slick Willie," for his ingenuity in executing robberies in various disguises. Fond of expensive clothes, Sutton was described as being an immaculate dresser. Although he was a bank robber, Sutton had the reputation of a gentleman; in fact, people present at his robberies stated he was quite polite.
One victim said witnessing one of Sutton's robberies was like being at the movies, except the usher had a gun.
When asked why he robbed banks, Sutton simply replied, "Because that's where the money is."
Sutton was an accomplished bank robber. He usually carried a pistol or a Thompson submachine gun. "You can't rob a bank on charm and personality," he once observed.
In an interview in the Reader's Digest published shortly before his death, Sutton was asked if the guns that he used in robberies were loaded. He responded that he never carried a loaded gun because somebody might get hurt. He stole from the rich and kept it.
It is estimated that Willie Sutton stole perhaps $2 million in his career, and spent more than half his adult life in prison.
Had Willie and Dillinger lived today, they would be amazed that by being a “bank robber” you would get locked up or killed, but if you were part of the executive crew you could earn more in “bonus” money in a year than they earned in their entire lives…and some earn enough “bonus” money in a year to live the rest of their lives as royalty. Somehow if you substitute the term “protection money” for “bonuses” the picture becomes clearer even if the MO’s were different. Who needs a submachine gun when you have a loaded compensation committee....and bankers dress nice and have "city"
manners.....hmmm.. who learned from who.
In my last huckleberrying, I expressed consternation on the perverse effects of “greed” in American business. Especially as reflected in outrageous executive compensation, due to the corrosive effect such levels of compensation has on the fundamental social contract behind American“ capitalism”. In a bit of fortuitous timing that New York Attorney General Andrew M. Cuomo released a bank bonus report on July 30th aptly entitled
NO RHYME OR REASON:
The Heads I Win, Tails You Lose I Bank Bonus Culture
An analysis of the 2008 bonuses and earnings of six of the original nine TARP recipients illustrates the point that it appears there are “highwaymen” in the executive suite....making more in a year as out-of-control insider "bank robbers" than all of ther Depression Era bank robber put together.
How else to explain the giving of bonuses in the BILLIONS of dollars when the banks BILLIONS more in losses leaving the taxpayer to finance lending these banks well over $100 BILLION initially.
These are the same banks that are sucking the lifeblood out of cash-strapped, debt-laden consumers who make up a large part of the bank’s base and generate an even larger share of profits per capita through the banks “user-friendly” courtesy overdraft protection, through sorting banking transaction in the order to maximize overdraft and overlimit fees. Over forty-four percent of of all banks and credit unions have overdraft income greater than net income.
No gentlemen bandits here amongst the educated financial set, educated in “useless in formation”, to borrow a line from Mick Jagger in I Can't Get No Satisfaction,......ignorant of the true riches in life, MERE HIGHWAYMEN DISGUISED AS EXECUTIVES.
Hello, has anyone read anything beyond the next quarter’s earnings forecasts???? Is there nothing more to life than $$$$?? Even the simplest farmer knows you can force plants to grow quickly with fertilizer but the growth has no depth….Giant Redwoods grow slowly, but last forever. But, HIGHWAYMEN wouldn't know much more than what is in it for them around the next turn.
Excerpt from Cuomo Report-all losses, bonuses and aid are for 2008.
$B = Billion Dollars
Two firms
Citigroup-LOSS- $27B; BONUSES-$5.33B
Merrill Lynch-LOSS- $27B; BONUSES-$3.6B
Totals LOSSES-$54B; BONUSES-$9B
GOVT AID $55B
Three Firms
Goldman Sachs, LOSS-$2.3B; BONUSES-$4.B
Morgan Stanley LOSS-$1.7B; BONUSES-$4.5B
JP.MorganChase LOSS-$5.6B; BONUSES-$8.7B
Totals LOSS-$9.6B; BONUSES-$18B
GOVT AID $45B
Bank of America had 172 employees that received at a bonus of at least $1 million each.
The breakdown of these bonuses is interesting and similar to most of the other banks in the study......
The top four recipients received a combined $64.01 million.
The next four bonus recipients received a combined $36.85 million.
The next six bonus recipients received a combined $31.39 million.
Four individuals received bonuses of $10 million or more and combined they received
$64.01 million.
Eight individuals received bonuses of $8 million or more.
The Cuomo report noted:
"[L]arge payouts became a cultural expectation at banks and a source of competition among the firms. ….Clearly, the compensation structures in the boom years did not account for long-term risk, and huge paydays continued while the firm faced extinction."
The Cuomo report also noted:
“…. one thing is clear from this investigation to date: there is no clear rhyme or reason to the way banks compensate and reward their employees. compensation for bank employees has become unmoored from the banks' financial performance.
• when the banks did well, their employees were paid well.
• when banks did poorly, their employees were paid well.
• when the banks did very poorly, they were bailed out by
taxpayers and their employees were still paid well.
Bonuses and overall compensation did not vary significantly as profits diminished. Indeed, our investigation suggests a disconnect between compensation and bank performance that resulted in a "heads I win, tails you lose" bonus system. In other words, bank compensation structures lacked consistent principles and tended to result in a compensation system that was all "upside."
Like the iceberg that struck the Titanic, the executive compensation problem in the banking industry is just the tip of the problem.....Indsustry leaders and executives need to look at the Man in the Mirror and change.....give aid to the poor and defenseless...don't heap more than is humanly needed into your pockets just because you can.....folks if most Americans earned a Million Dollars in a year they would be set for life....put it in perspective huck says.
In 2006, only the income level of the top 5% earned over $174,000. The median income in 2006 was only about $58,000...The mdeian is the point where 1/2 the people earn more than that and half earn less.
and, that's the world tonite.
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