"Idiots" Indeed.

Discussion in 'Current Events' started by Skull Pilot, Jan 31, 2009.

  1. Skull Pilot
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    Skull Pilot Platinum Member

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    Great piece in the WSJ

    'Idiots' Indeed - WSJ.com



    Who do you think will make up for those lost tax revenues?
     
  2. Care4all
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    Care4all Warrior Princess Supporting Member

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    what talent? the talent that they used to get us in this mess?
     
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  3. PeterS
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    PeterS Active Member

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    Talent pool? These are the people who drove the truck off the road. We need to replace them not reward them. And what lost tax dollars? We are borrowing from China in order to bail out their asses. The lost tax dollars will come from you when you have to pay higher taxes to repay China so that Wall Streets 'talent pool' can have bonuses. Idiots indeed!
     
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  4. FistyTheBadger
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    FistyTheBadger King of the Badgers

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    Now replace that talent with government stooges. Now understand?

    Another way to go with this:

    That is an oversimplification of the issue. The CEOs are just as much victims of this implosion as asny of the workers, or any of the rest of us. We have just been taught not to feel compassion for people who have money.
     
  5. Skull Pilot
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    Skull Pilot Platinum Member

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    do you really think that every person on Wall Street is responsible? Every single person who works in finance is responsible for this mess?

    Of course not. there are many banks, many investment advisers etc who did not play the mortgage backed securities games.

    And your outrage and indignation should be more with the Fed and the government offering to back mortgages with tax payer monies than with anyone else.

    If the government did not promise to back mortgages, do you think banks would have been so cavalier in their lending policies?
     
  6. Care4all
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    Care4all Warrior Princess Supporting Member

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    Fisty, I gotta say BULLCRUD to that one....

    They were NOT VICTIMS, they knew exactly what was going on and what they were doing....if they didn't, then they did NOT DESERVE the multi million dollar salaries with bonuses in the first place.....

    They were paid to be good fiduciaries of the stock owners money and to make wise business decisions.....they did NO SUCH THING fisty!

    Care
     
  7. Care4all
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    Care4all Warrior Princess Supporting Member

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    more than 75% f subprime mortgages were issued by banks and financial institutions that KNEW THEY WOULD NOT BE BACKED by fannie/freddie.....

    your premise falls flat...

    And this is about huge corporations that were heavily in to this ponzi scheme that take tax payer's bailout money....no?
     
  8. Skull Pilot
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    Skull Pilot Platinum Member

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    link, support for your claim. And even if your number is right, it doesn't matter if it wasn't Fanny it was the fed fucking up either way it boils down to government interference and that is where the "outrage" should start.
    The fed held interest at negative rates what do you think negative interest rates do to the number of loans being applied for?

    No the figure of 18 billion was the TOTAL bonuses for ALL of Wall Street and not just the companies that took Tarp money. If you bothered to read the piece or even the small bit I quoted you would have seen that.
     
    Last edited: Jan 31, 2009
  9. Ravi
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    Ravi Diamond Member

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    I think if we are going to give taxpayer money to a business to keep them from going belly up we can certainly object to them using it to pay over-the-top bonuses to their CEOs that haven't performed well lately.
     
  10. Skull Pilot
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    Skull Pilot Platinum Member

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    Again the total bonuses reported in the news was for the entire contingent of employees in the financial sector and NOT just those that took TARP money.

    The outrage and the reporting is a bit disingenuous don't you think?
     

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