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Showing category "Scandals" (Show all posts)

The Mess of AIG Bonuses

Posted by Cartoosh on Saturday, March 21, 2009, In : Scandals 
public outraged against AIG bonus
3/18/2009 AIG CEO appeared in front of furious lawmakers on Capitol Hill yesterday to shed some light on over $165M bonus awarded to his employees - many of them in AIG's financial products unit. That's the very same department blamed for plunging AIG into the financial turmoil that eventually led the government to lend and invest about $170 billion in the company. In defending his decision foregoing the bonus payments, CEO Liddy said that AIG needs these employees to continue working to un...
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Madoff Trade Penthouse For Tiny Jail Cell

Posted by Cartoosh on Saturday, March 21, 2009, In : Scandals 
Madoff pleaded guilty
3/12/2009 The disgraced financier, Bernard Madoff, pleaded guilty on Thursday to 11 charges, including fraud, perjury and money laundering. Judge Denny Chin ordered him jailed immediately. Madoff's plea came without an agreement, which means he faces a statutory maximum of 150 years in prison when he is sentenced June 16. Madoff's Park Avenue penthouse reported worth of $7 million is going to be up for sale.
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Bank CEOs Grilled By Congress

Posted by Cartoosh on Saturday, March 21, 2009, In : Scandals 
2/11/2009 After Treasury Secretary Tim Geithner announced yesterday that the government, the Federal Reserve, and the private sectors would spend around $2 trillion to bailout the troubling financial institutions, US bank CEOs appeared in front of the House Financial Services Committee in an attempt to repair their tarnished reputation. The banks are accused of using the money to cushion their balance sheets or buy up rivals. They are also accused of rewarding themselves with exceptional amo...
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Blagojevich Got The Boot

Posted by Cartoosh on Saturday, March 21, 2009, In : Scandals 
1/29/2009 Illinois Gov. Rod Blagojevich was thrown out of office Thursday. The Illinois Senate voted 59-0 to convict him of abuse of power in related to his attempt to profit from the U.S. Senate seat left open by President Obama. Even so, he is still going to face the corruption charges from the federal prosecutors. The now former Gov. argued that he did nothing wrong and that there is no sufficient evidence to support such verdict. "You haven't proved a crime, and you can't, because it di...
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Illinois Gov. Blagojevich Announced Obama's Replacement

Posted by Cartoosh on Saturday, March 21, 2009, In : Scandals 
(Click to see the full size cartoon.)
12/30/2008 On December 9 of 2008, U.S. Illinois Gov. Rod Blagojevich was arrested from his residence on the accusation of a "political corruption crime spree" that was to sell the state's U.S. Senate seat left open by President-elect Barack Obama. He was later released on $4,500 bail and back to his office on Thursday to continue his governor business as usual. On December 30, Gov. Blagojevich made a surprising announcement that he would appoi...
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