Peter Kraus

Peter Kraus worked at Goldman Sachs for 3 months as head of strategy.  But, after the Bank of America takeover, his contract terms changed and he was able to take a $25M golden parachute… paid for, in part, by your tax dollars in the form of $25Bn in TARP funds given to BoA. Now he’s gone and bought a $37M NYC apartment.

I think we need a new term to describe these people.  One I’ve heard and like is Corporate Welfare Queen.  I can’t even afford a $3M NYC apartment.  Why should my tax dollars pay for this man, who probably has zero kids, to drive around in some stretch Cadillac up and down the streets of Manhattan, while he sits at home and collects a check in the mailbox paid for by my tax dollars!  He should be out there being a productive member of society instead of wrecking it with disastrous banking policies and rap music.  I manage to hold down a job, he should too.  It’s not my fault his bank merged and eliminated his job.  He should have thought of that when he decided to get an MBA.

Story here and here.