Wretched Excess: Peter Kraus

As I sit bleary-eyed in front of the babbling T.V. -- some of the more outrageous news sinks into my brain. Here is the Daily Kos version of the story, as filtered by nyceve, and presented to you below:












Former Merrill Lynch executive pays 37 million for NYC apartment (with taxpayer money)
by nyceve
Tue Dec 30, 2008 at 07:54:24 AM PST

This is a little off the beaten track for me, but it is a very real example of how taxpayer money is being wasted on bailouts for failed executives.

It's particularly important to publicize this sort of wretched excess, known as the privatization of profits and socialization of loss, as we approach the opening of the 111th Congress and the battle for affordable and guaranteed healthcare for all Americans goes into high gear.

As sure as night follows day, we will hear many say, the United States can't afford to provide healthcare to all our citizens. When this deceit gets going, please remember that a huge amount of taxpayer money is raining on people like Peter Kraus--no questions asked.

This is 720 Park Avenue in New York City. It's one of the most expensive buildings in Manhattan. Peter Kraus and his wife Jill, just paid $37 million for an apartment in this building. This year, Peter Kraus received a payout of $25 million dollars for working at Merrill Lynch for just three months.

photo credits:
720 Park Avenue, Merrill Lynch Logo