Comments on: How the bailout feeds bloated banker pay Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: Benny Acosta Sun, 16 Aug 2009 01:49:39 +0000 Is it any surprise? The only thing they did right was to pay out the stimulus package for citizens. We were paying down our debts and putting money into savings. Both things would have helped the banks out a great deal. But the banks argued that they would loose profit if they weren’t allowed to drag this whole thing out by denying money to the people who really needed it, thus generating more profits via interest on unpaid debt.

The government (your representatives and mine) bought this line of crap and gave seven hundred billion tax dollars to the banking industry directly. And none of it went towards your debt or mine.

It’s funny how we so readily accept socialized debt. They screwed it up and we pay the bill. But when Obama mentioned spreading the wealth around a little. people were “offended”. Idiots.

By: SC Sat, 15 Aug 2009 18:14:58 +0000 The financial wizards who have reeked such havoc to the world economies have the guts to reward themselves on the pretext that they are its saviors.In any other age they would be tried and condemned as saboteurs and by the amount of harm they did to the trusting humanity also as “scourge to humanity”.

By: Richard Sat, 15 Aug 2009 14:08:07 +0000 You forgot to mention the government guarantee of liabilities through the FDIC which distorts the allocation of capital in favor of banks. Trading activities should not be subsidized or encouraged by the federal government as they are today.

By: Peter Fri, 14 Aug 2009 16:00:58 +0000 Game Over ?

They have until October.

Politics always trumps Free Markets and it’s all calculated!

If this fiasco hasn’t turned-around by then, the O-Team will send in “The Cleaner” and the Election Cycle will rein.

– misallocated Capital encouraged overcapacity and the Social Contract with Labor is null & void
– End of ’09, Bargaining & Hope is lost and Anger causes heads to roll (i.e., B.B., L.S. and T.G. are out as the nation moves closer to socialism)
– 2010 will bring Depression and will end with Acceptance
– 2011 re-election campaign kicks in with promises to Labor of a “Road to Recovery”
– 2012 Capital gets the backseat, Labor is in the driver’s seat. O-Team is re-elected with a majority in the House

The fate of capitalism as we know it, will forever have changed!

Election Cycles:
…note election year Novembers, the February following election year Novembers has been an excellent indicator as to whether the election year November would mark[s] an important top. In every case since at least 1968, when February following election year November moves to a higher high than the January following election year November, the market has proceeded to do very well.

Conversely, when the post-election year February is unable to move higher than the post-election year January, a significant market decline has always followed. This may be coincidence but it has proved prescient for at least the past 40 years.

By: dvictr Fri, 14 Aug 2009 14:01:16 +0000 It’s a captured industry. Further regulation will only benefit the connected players. It all comes back to the federal reserve… really.

By: Peter H Fri, 14 Aug 2009 09:44:43 +0000 It’ll be interesting to see how much tax money (national earnings/wealth) will available to be milked out of the bankers’ farmed politicians next year… mind you I guess if there is a short-fall they’ll be print up some fresh stuff and give the next generation a bit more indebtedness.
At least when the “bail-out bubble” bursts (as it surely must) those who have learned to trim their expenses should suffer less than those who are still addicted to excess.

By: james reginald harris, jr Thu, 13 Aug 2009 23:13:38 +0000 After Five (5) Years of unemployment and the unavoidable separation and divorce that followed a Blacklisting as a Whistle-blower, my parents who have allowed me back under their roof after a Three Year homelessness.

As so I can have renewed hope of being an effective parent despite massive economic insecurity they have bought me a book for parenting my 5 year old daughter over an issue:

Whining (3) Steps to stopping it before the tears and tantrums start by Audrey Ricker Phd and Carolyn Crowder Phd.

I suggest President of the United States Obama and his Pay Zar, Treasury Secretary, SEC, US DOJ and US Federal Reserve Chairman Bernanke read this book.

After which the United States Congress and Senate should pass that 2009 for any company having received government funds in tax year 2008-2009 shall be a ZERO BONUS YEAR.

Then, the US BANKS should take that (“PRESERVED FUNDS”) and use them for TRUE ECONOMIC STIMULUS for ENTREPRENEURS, who have been unreasonably treated by the (“Whiners”).

And thereby recognize those of us who are fighting for our democracy and its preservation of capital opportunity for all classes and races of people through not establishing a ‘RENT’ but the Creation of Opportunity. That is the American Way.

When I was a kid, you didn’t whine, you got up and tried again, you worked harder, you worked longer, you thought bigger, you sweated, you toiled, you did not cry and you most certainly never WHINED. You were an American, no matter what the odds – you could prevail through persistent, intelligent and sustained effort.

There was no RENT, there never was a RENT, there should never be a Social Rent of Control of Capital in America.

It is time for the President, the Congress, the Senate and the US Judiciary to teach the bankers the difference between Whiners and Winners.

By: f belz Thu, 13 Aug 2009 22:28:37 +0000 Some of the things mentioned I agree with and some conclusions drawn appear to be guessed at. I do believe that business people who have their own money and their own assets on the line can expect to be rewarded by a good salary. The bankers and CEOs are using other peoples money and should not get high salaries because they bear very little of the risk. The stockholders and the people who put up the money for the investment should recieve the greater share. I think that the excuse of having to pay high salaries to retain people is overstated. You have to pay a decent wage, with decent benefits, plus profit sharing if applicable. You cannot throw ethical conduct to the wind by tying bonuses to performance. This encourages cheating, greed, and illegal behavior. I think that the people who caused the banking meltdown should be prosecuted to the fullest extent of the law. This is what the people of the United States are angry about. They are just taking it out in the Healthcare meetings.

By: Andrew Thu, 13 Aug 2009 21:57:47 +0000 Well, if you think about it – maybe they do deserve more money than before. After all, the bankers and the media had a stellar performance hyping up the “meltdown”, and subsequently were rewarded with fantastic bailout programs (the exact details of which is a subject for a whole other discussion). Thus, not only did the bankers avoid the “noose”, they did so *without spending a dime of their own money*. With a great success like that can you really blame them for paying themselves more?