This Thursday, Treasury Secretary Henry Paulson will host the annual Treasury Departments Christmas party. We may be in the worst financial crisis since the Great Depression, and executives may be taking heat for excessive compensation, but nothing will stop Hank from throwing a party.
And if you thought the whole idea of a party for the Treasury Department was ironic amidst this financial crisis, wait until you hear where they are throwing the party....
The annual gala is being held in the "Cash Room" at the Treasury Department. I guess the "Taxpayer Funded" room was booked for the evening.
....................
Here's a follow up to the ExxonMobil post surrounding the market cap of financial firms.
A little more than 1 year ago Royal Bank of Scotland paid $100 billion for ABN Amro.
For this amount today, RBS could buy:
Citibank $22.5 billion / Morgan Stanley $10.5 billion / Goldman Sachs $21 billion / Merrill Lynch $12.3 billion / Deutsche Bank $13 billion / Barclays $12.7 billion
And still have $8 billion in change for an automaker or three….
Thanks to Noah for the heads up
1 comments:
Let's just be glad they're not using the "credit room" (maybe no one would take their credit and they HAD to use the cash room)
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