Brooklyn, New York (PressExposure) February 25, 2009 -- Young CEO Blasts Wall Street for Recession Bonuses
Despite a crumbling economy, falling stock prices and a year filled with scandal on Wall Street many bankers managed to find a bright spot to give themselves $18.4 Billion in bonuses for the year. According to the New York State comptrollers office this is the sixth largest haul on record; some bankers even took home millions while their companies lost billions last year.
âThere is no transparency or accountability in the system at all,â said Thomas Cooper, a Staff Logistics Coordinator for the International Brotherhood of Teamsters. âSome bankers can secure hundreds of millions of funding for a project without subjecting it to debate by their colleagues, or to the scrutiny and oversight of the public.
In a recent address President Obama is quoted saying that this situation is âshameful.. & now is not the time for bonusesâ¦.â This comes on the heels of President Obama signing an $850 billion bailout to aide this country and many of the nationâs largest cooperationâs. This is the height of disregard for the hard working middle and small business owners who are felling the brunt of these rough economic times. But that doesnât seem to stop many executives from laughing all the way to the bank.
According to a recent study, some bankers took home the same amount as they did in 2004, when the Dow Jones closed well over 10,000 points. âItâs like a slap in the face to all decent, hardworking business owners out there: who need those bailout funds more than any Wall Street executiveâ says Lennox Browne 24-year-old founder and CEO of SuperHeroCars.com. Browne also points out that there can be a great public relations move for Wall Street if they start investing in new ideas and new people, not the same revolving door of people and ideas. Browne also added âwith the current investment climate this doesnât fair well with many start-ups seeking honest capitalâ.
Browne also added that SuperHeroCars.com launched a web service for used autos and auto services; the site has been focusing on trying to revamp the auto industry on a B2B and B2B level. The young Internet Company seeks to establish a social network which will link customers with used autos and service dealers across the nation through the web, currently working out of their vehicle in Brooklyn, New York the company combines a strong online presence with traditional forms of media within the used auto market.
For more information visit [http://www.superherocars.com/postads] or contact Adbur Scott at (347-924-5705
Abdur Scott 8904 Ave J Brooklyn, NY 11236 Office: 347.924.5705 Mobile: 215.360.9185 Fax: 718-209-3232 E-mail: email@example.com