by restrangled 18 Replies latest jw friends
The Dow is up by over 200 points today.....and why is it as tax payers we have to fund 700 billion dollars to bail out....... who?
If this was such a nightmare, why is the market on the plus end before this even happens?
I am one pissed off tax payer. How about you?
r.
Probably some more of this:
Today in The Financial Times they listed the following compesation for top execs.
Goldman
Blankfein $600k/yr total comp$70.3m
JPM
Dimon $1.0/yr total comp $30.0m
Morgan Stanley
Mack $800k/yr total comp $41.6m
Citi
Pandit $250k/yr total comp $0.6m
Lehman
Fuld $750k/yr total comp $40.0m
Bear
Cayne $250k/yr total comp $33.9m
Merrill
Thain $57.6k/yr total comp $17.3m
http://www.ft.com/cms/s/0/66c82f78-8...nclick_check=1 I hope everybody realizes by now that I am extremely cynical about this so-called bailout. Another bunch of these guys is going to use that 700B to set up another rolling ripoff.
It's too bad that the fat cats at the top get to keep all their loot. On the other hand, the bailout has kept the country chugging along, without upheavals and turmoil that could have resulted from letting all those corps go under. The people pay, one way or another, either through taxes, or through higher unemployment, price jumps, shortages, domestic agitation, etc.
S
'If this was such a nightmare, why is the market on the plus end before this even happens?'
Simple. Confidence is restored.
S
Restrangled,
I too am pissed off that the very executives who helped guide us into this mess are getting multiple millions of dollars for causing trouble.
However, the market rise shows a certain confidence in the economy. If small loans are available it helps keep the wheels of the economy going, and everybody benefits including us peons. We don't benefit to the tune of millions of $$$$, but we don't lose our jobs or have to watch the economy crumble.
That is, if this plan works and the investors keep the economy's wheels greased -- like Warren Buffett's recent 5 billion dollar investment in Goldman-Sachs, a vote of confidence. Hopefully more of that kind of thing will keep occurring.
Bush and the other politicians in power are being forced by the huge corporations and financial institutions to capitulate and save their a$$e$. Wall street is now running the government and the politicians are just pawns for the real power brokers controlling the country - Rockefeller and company. All the elite cronies who tell the politicians what to do. Didn't you notice a hint of desperation in Bush's speech last night on national T.V. ? He looked like a kid who was scared to go to school the next day because the bully is gonna beat him up when he gets there ! There are hidden powers controlling things in this country ; that don't want us to know they are controlling things
I have zero confidence in anyone running the government OR the treasury. I get fed up with all the excuses - I spent mega years in finance and let me tell you - if I had done my job like any of the idiots in charge and getting paid millions for it - I would have been fired within a week. Zip confidence. Morons are running the show.
There are 350 million people in the USA - why not just give every family 1 million dollars to kick start their business, their budget, pay off debt and start spending. We keep hearing credit is the reason for all this - put 350 million a whole heck of a lot less than 700 billion directly into the pockets of families who run the economy...Those people would buy up the empty houses, furnish them, businesses would start up, retail would surge........but that would be too easy.
I would still like to see the whole thing go on - we heard chicken little and the sky was falling last weekend - it didn't. We hear it again - lets not sign anything and see what happens. I've talked to people that already lost money in the investments and those people are over 50. They don't have time to wait for a correction and that money is lost. Now in 10 years, they'll get to hear the same people blame them for the high cost of social security ...what a joke. Who are you really saving? sammieswife.
If you gave every family one million dollars, inflation would sky-rocket like you wouldn't believe. A loaf of bread = $10,000.
One of the conditions for the bailout should be to decapitate the top dog in each company. Ok, not really, just fire him.
S
If you gave every family one million dollars, inflation would sky-rocket like you wouldn't believe. A loaf of bread = $10,000.
FYI, you are wrong. The rarer a commidity (in this case Fed Reserve notes) is, the higher the commodity's value. The more abundant a commidity (in this case Fed Reserve notes) is, the lower the commodity's value. That is why inflation is more accurately defined as devaluation. It makes it appear that things cost more, when, in reality, it devalues the currency in circulation. So, it matters not whether 700 billion is given to Wall street, or the same amount (or less) would be given to homeowners, or to the tooth fairy. The devaluation comes from printing more fiat money, not from who it is granted to. BA- No charge for the education. PS- What do you think the price of bread will be when this 700+ billion dollar bailout is approved? (Clue- it would add around 10% to everything you buy, not just bread of course. But 700 billion is just an estimate- it will be much more in reality. The gubmint always estimates very low historically speaking).
