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http://p-userpic.livejournal.com/57530093/1085352
have you read this?? it's a view from inside wall street.
snip!
Just imagine how many millions they have socked away for the last five years alone, and we're supposed to think this is some act of contrition? Please stop me from laughing my ass off.
We the US taxpayers are now on the hook for over 7.5 trillion dollars. Wouldn't it be nice if we could all go to the Fed window and borrow all we wanted? I wonder just how many of these people are going to go to jail for what they have done? The answer is probably none, but we're supposed to feel all warm and fuzzy that their giving up their year end bonus.
Well, it sure doesn't make me feel any better but I do know what a lot of people are going to do this holiday season. Their going to spend their credit cards to the max and come the end of the year, just stop paying their credit card bills and let the banks hang. Sure you might kill your credit rating, but what the hell. If Citibank can raise your credit card rates even if you never missed a payment and paid more than the minimum, then why not as long as you continue to make your rent or mortgage payment and can still afford to eat and get to work.
The entire financial system is rotten from the top down and as Obama has said and keeps repeating, we're all going to have to make a sacrifice. Haven't we sacrificed enough? They killed everyones summer vacation by driving the price of gas beyond $5 a gallon and then bring it down rather than watch the masses storm the White House after the stories of people freezing to death in the dead of winter starts poping up on the MSM. If gas has fallen as far as it has, then why is the price of food still going through the roof?
No doubt that the bankers at Wachovia that are getting their 98 million in bonuses will sleep well also at tax payer expense. Congress should hang its head in shame as they let this happen by looking the other way and then they have the gall to refuse a FOIA request from Bloomberg as to how OUR tax dollars are being spent. What ever happend to accountability? Pathetic to say the least. Paulson, bernanke and Bush should be tarred and feathered and then kicked out of the front door of the White House. That would be jacks for openers. Happy holidays one and all.
This should mean their top 5 officers shall not make more than $400,000 per year (including salary and any bonuses), the same salary the President receives.
Also below these top 5 no employee (sales folks included) for these same entities can make beyond GS-15 pay (salary ad bonues again), the highest civilian salary, which, depending upon their locale and tenure with the company, currently is at a maximum of $136,000 or so.
What do the USA CEOs do? Grab all the GOP welfare they can and party with it, whatever they can't blow on hookers and blow, they outright steal. And all that is an intentional part of the GOP's welfare-for-wealthy plan.
The Republican Party has handed trillions of dollars to the obscenely wealthy, through tax cuts, through two wars-for-profit, and now by simply handing trillions of dollars to the wealthy. The GOP has been waging class war on everyone that makes less than $1M for decades, ever since Acting-President Reagan fronted for the Bush crime syndicate. I feel sorry for our troops that fooled themselves into catching bullets solely so their corporate owners can steal money from the Treasury, all the while believing all those obvious lies about 'duty' and 'honor' and 'defending the nation'.
It's about time taxes were raised back to where they were when the USA was at the peak of it's world influence and power, being the late '50s: 90% for humans, and 38% for corporations. Capital Gains taxes MUST be raised to at least 50% immediately. Imagine not paying taxes on income you did NOTHING to earn? But when you DO actually work for your money, the GOP wants that taxed as much as they can.
The only way to save this once-great nation from the total destruction that the GOP has been planning and bringing about since 1980 is to return to the fiscal responsibility of the past. Look at the nation's finances for the last century, when Democrats are in control, the country prospers. When the Republicans are in charge, the country fails. It's pretty obvious, the GOP's plan always has been to destroy America.
If we have trillions of dollars so deposit into the CEO-class bank accounts for their parties, then we certainly have enough money for universal health care for every human being in the USA. We certainly have enough to rebuild our infrastructure, and regionalize electricity generation and distribution. Somehow the Republican Party thinks that the US Treasury is only for the wealthy and not for all Americans.
While all these companies, financial and insurance and car, claim they are not "profitable" and need bail-outs, they and our...ahem..."trusted" government representatives--Barny Frank, you should be ashamed of yourself--have mentioned that the execs of these companies "shouldn't" be taking their bonuses and multi-million dollar salaries, but NONE of these people has said WHY.
Because these corporations might just not need bail-outs and might just be profitable, regardless of failed investments, if the revenue of these corporations wasn't being raided to the tune of tens and hundreds of millions of dollars in compensation expenses PRE-PROFIT STATEMENT.
No one says it.
Ever.
Mr. Frank even dismissed the implication of this from D L Hughley on D L's new show on CNN when Mr. Hughley mentioned that the automobile corporations CEO's showed up in private jets to beg for taxpayer money by saying...and I can't believe he did..."CEO's are ALWAYS going to have the money."
Gee, Mr. Frank, isn't that the problem?
Everyone talks about the automobile corporations not selling the right car or enough cars. Like that's THE reason they aren't profitable.
Again, could it be that the financial corps and the automobile corps aren't profitable because the revenue is raided to the tune of billions of dollars in compensation for a tiny tiny minority of the highest compensated employees of the corporation, and not so much because of risky investments or bad cars?