Bush cousin at Lehman's apologized to exec pals for mere suggestion they go without bonuses:

[cyberpj]

snip-
Waxman said that in January, Fuld and his board were warned the company’s “liquidity can disappear quite fast.” Despite that warning, he said, “Mr. Fuld depleted Lehman’s capital reserves by over $10 billion through year-end bonuses, stock buybacks, and dividend payments.”

Waxman quoted Fuld as saying in one document, “Don’t worry” to the suggestion that executives go without bonuses.

That suggestion came from Lehman’s money management subsidiary, Neuberger Berman. Waxman quoted George H. Walker, President Bush’s cousin and a Lehman executive who oversaw some Neuberger Berman employees, as responding with a dismissive tone to the idea of going without bonuses. “Sorry team,” he wrote to the executive committee, according to Waxman. “I’m not sure what’s in the water at 605 Third Avenue today.... I’m embarrassed and I apologize.”

article:
http://www.msnbc.msn.com/id/27047714/

[aint_no_life_nowhere]

1. The Bush family seems to have their tentacles everywhere

I just googled and found that George H. Walker is global head of the Investment Management Division at Lehman Brothers Holdings Inc.

And what is it about everyone in the Bush family being named George? Is this like George Foreman naming all five of his sons after himself?

[cyberpj]

2. That was the main reason for my posting the clip. More fodder for "Know your BFEE" studies.

When George Carlin said that only a few families ran the world I'm sure he knew the Bush family is one of the main players. And their pal Rupert Murdoch is another. Without him they couldn't control the media and hide everything they do and have done.

[cyberpj]

3. No BUSH mentioned on evening news - they said the apology was from "an executive" -

The Bush family protection goes on and on and on....

[Waiting For Everyman]

4. This is why they need legal limits.

They don't have enough restraint to keep from killing the economy.

[anigbrowl]

5. Bonuses, etc.

Well, imagine the headlines like 'Lehman Brothers refuses to honor employment contracts' or 'Lehman's withholds bonuses/dividends'. This was a symptom of the corporate culture on Wall Street - where everyone in the top jobs was making big money, if a bank didn't pay out bonuses/dividends/buy back its own shares while it had money most of the senior staff would have left overnight.

[Jack Rabbit]

6. Some people just won't give up their entitlements

[Orsino]

7. A rare peek inside the owner's box. n/t