yeah Chris! McCain runs around yelling fire about how the dems will tax and spend everyone to death if they win and will turn everything into socialism, but looks at things right now! We're already in the hole in so many areas...what could be worse?!?
socialism for CEO's - that is priceless. Obama needs to pick that up and run with it. people are SICK of this...
Andrew
· 1 year ago
The math is pretty simple. As long as there is more of us in the middle and lower classes than there are those in the upper class of the social structure, we will continue to pay through the nose for the misdeeds of those who we rely on to run the financial system. Both Fannie and Fredie hold over 5 trillion in debt that we all will be on the hook for and the gang that couldn't shoot straight, Paulson, Bush, Cheney and Bernanke will leave this financial train wreck for the next occupant of the White House to grapple with. No matter who gets into office, the mantra of no new taxes should fall on deaf ears and when a candidate tells you there won't be any new taxes when they take office, just ask them where the 5 trillion is going to come from to pay for yet another bailout?
sittenpretty
· 1 year ago
its always been about CONTROLLING Americas vast money supply,that is why the repukes will say anything,and NEVER give up power,NEVER
tbhull
· 1 year ago
These CEOs, the Congressman, Congresswomen and Senators are all part of the same club. They will always protect each other, with the able assistance of their buddies in the press. Do not fool yourself by thinking otherwise.
tbhull
· 1 year ago
All of this will continue until DC's lifeblood is cut off, moeny. Everyone should save up for a strike lasting several months cutting off DC's employment tax cash flow.
lynchie
· 1 year ago
This morning i posted about the Big 3 automakers asking Congress for $50 billion so they can retool for fuel efficient cars. Why do i have to pay for your incompetence. is anyone in management being laid off, lose their parachute, healthcare, pension, hell no. But the threat that will be dropped if we don't get the money all these jobs are lost. That is a tragedy, but going back to Michael Moore's first movie Detroit and its lack of any knowledge of the market and what consumers want nothing has changed. Just another antiquated industry like the oil industry that has done nothing to be more efficient or looking to the future. Ford is going to launch an electric car they hope in 2012. We put man on the moon in less than 5 years. It also doesn't mean anyone could afford the car or what the cost to maintain and use the car for at least the warranty period. These are the same bastards who went through the Rusty Ford problem, the recalls for bad brakes, the Pinto, the Chevelle with the exploding gas tanks. Yeah, McCain will bring change, unfortunately it will be that he will give the money to the corporations before they ask for it.
TomJoad
· 1 year ago
One sentence summarizes GOP goals,
"Socialized Risk, privatised profit" (it's a win-win for them, lose-lose for us)
profmarcus
· 1 year ago
jerome a paris had what i thought was a very good explanation of precisely what's going to happen with this obscene bailout... you can read it here on kos...
You are correct Chris. The Masters of the Universe feel that at their level the exalted life is not a privilege but a social obligation that must be met long before anyone beneath them is recognized. Yet the obvious acknowledgment that they are coddled, subsidized and then basically ignored regarding their unbridled greed is viewed as an unseemly and unfair attack on their always unassailable perch on the pedestal.
They're not even any g.d. good at what they do. Look what happens when the genius's are given free rein. They've f**ked up everything they've touched. They're not even good enough to not screw up the golden goose. They just keep bleeding the thing until it's dead and then have the gov't buy them another friggin' goose.
Crappy CEO's being propped up by crappy politicians with the whole damn thing being propped up by the U.S. taxpayer and international debt. So they can live like royalty. These assholes are mainlining our money. And then trembling with indignation when told they can't have more.
They suck in every way.
cowboyneok
· 1 year ago
Thanks for the quote, Chris!
tlsintx
· 1 year ago
nice one, cowboy!
cowboyneok
· 1 year ago
thanks.
avcheu
· 1 year ago
I agree, I mean, if I made poor choices at the office and put us inthe hole for even as "little" as $5,000, my ass would be on the line and I'm sure I'd get docked for it. So how come these f-ups, who, you know, should review all their investments and business decisions, come out scott-free? It's basically telling the free-market that it really doesn't matter what you do, take your money, laughing all the way to the bank.
I won't object to the government creating a separate unit to house the actual mortgages so that people can continue paying and living but if you made some really speculative and risky decisions you'd be fired, shouldn't they?
randysmith
· 1 year ago
So how many millions are Dick Syron [Freddie] and Steve Ashley [Fannie] going to walk away with? Performance bonus? Contract buyout?
And why is the government only getting 80%? Why is there ANY shareholder equity left? Or is it only that we can't "stiff" our buddies the Saudis and Chinese?
I like the idea someone proposed that no company can apply to the government for a bailout if their CEO or other top executives make more than the highest paid government civil servant -- GS-15, about $160K. I'd push that up to 200% of the GS-15's pay [after all, we have to allow for SOME graft and corruption], but I'd make it retroactive to the past 5 years. If these guys want taxpayers to bail them out, they have to give it all back. And I'd extend the "offer" to "family income" just so they can't protect it by putting it all in their wife's name....
burro
· 1 year ago
The New York Times, in its six-story package on the historic deal, reports that Daniel H. Mudd, departing CEO of Fannie Mae, is guaranteed a severance package of $9.3 million, while Freddie Mac chief Richard F. Syron will walk away with at least $14.1 million. And who is on the losing end of this historic bailout? They include: "shareholders, rank-and-file employees and, in the worst case, American taxpayers," the NYT says.
LanceThruster
· 1 year ago
Typical Corporate Crook: You say "cooking the books" as if it's a bad thing!
It's as if Washington has a set policy to close the barn doors ONLY after the cows have gotten out. And this will pass for "action" until the same goddamned thing happens under a different set of circumstances.
There is no accountability from crooks gaming the system and leaving everyone else holding the bag. And their government enablers are in on the take as well.
----
Work is for those who don't know how to plunder
-and-
Government is one of the most successful forms of banditry
All Comments
socialism for CEO's - that is priceless. Obama needs to pick that up and run with it. people are SICK of this...
No matter who gets into office, the mantra of no new taxes should fall on deaf ears and when a candidate tells you there won't be any new taxes when they take office, just ask them where the 5 trillion is going to come from to pay for yet another bailout?
"Socialized Risk, privatised profit" (it's a win-win for them, lose-lose for us)
http://www.dailykos.com/story/2008/9/7/112435/2...
http://takeitpersonally.blogspot.com/
They're not even any g.d. good at what they do. Look what happens when the genius's are given free rein. They've f**ked up everything they've touched. They're not even good enough to not screw up the golden goose. They just keep bleeding the thing until it's dead and then have the gov't buy them another friggin' goose.
Crappy CEO's being propped up by crappy politicians with the whole damn thing being propped up by the U.S. taxpayer and international debt. So they can live like royalty. These assholes are mainlining our money. And then trembling with indignation when told they can't have more.
They suck in every way.
I won't object to the government creating a separate unit to house the actual mortgages so that people can continue paying and living but if you made some really speculative and risky decisions you'd be fired, shouldn't they?
And why is the government only getting 80%? Why is there ANY shareholder equity left? Or is it only that we can't "stiff" our buddies the Saudis and Chinese?
I like the idea someone proposed that no company can apply to the government for a bailout if their CEO or other top executives make more than the highest paid government civil servant -- GS-15, about $160K. I'd push that up to 200% of the GS-15's pay [after all, we have to allow for SOME graft and corruption], but I'd make it retroactive to the past 5 years. If these guys want taxpayers to bail them out, they have to give it all back. And I'd extend the "offer" to "family income" just so they can't protect it by putting it all in their wife's name....
It's as if Washington has a set policy to close the barn doors ONLY after the cows have gotten out. And this will pass for "action" until the same goddamned thing happens under a different set of circumstances.
There is no accountability from crooks gaming the system and leaving everyone else holding the bag. And their government enablers are in on the take as well.
----
Work is for those who don't know how to plunder
-and-
Government is one of the most successful forms of banditry