They also said that the bailout amounts to $10,000 per household.  Personally, instead of giving $700 billion to Wall Street I would prefer that they write me a check for $10,000.  I suspect I could do some pretty good damage with $10,000.

NaturalScience wrote: crimhead wrote: Where are we to stop at these bailouts? I think that any executive compensation should be taken off of the table as well. When was the last time that anyone walked into a Bankruptcy hearing to have the judge say that your debts are wiped out and by the way here's a couple million dollars for a job well done? Never. If these companies are bailed out the the execs at the top should get nothing.  agree completely!  most of them should consider themselves lucky to avoid a prison sentence!

crimhead wrote: Where are we to stop at these bailouts? I think that any executive compensation should be taken off of the table as well. When was the last time that anyone walked into a Bankruptcy hearing to have the judge say that your debts are wiped out and by the way here's a couple million dollars for a job well done? Never. If these companies are bailed out the the execs at the top should get nothing.

crimhead wrote: Where are we to stop at these bailouts? I think that any executive compensation should be taken off of the table as well. When was the last time that anyone walked into a Bankruptcy hearing to have the judge say that your debts are wiped out and by the way here's a couple million dollars for a job well done? Never. If these companies are bailed out the the execs at the top should get nothing.

agree completely!  most of them should consider themselves lucky to avoid a prison sentence!

Hey Slart since you're the expert in such things, I'd love to see some good spoofs on "Don't worry honey, we're with AIG" 

BroSpence wrote: Isn't it interesting that the Fed. Reserve was partially created to help prevent our banks from failing and all that, then the great depression happened a few years later. Anyways, I just sent a bunch of Emails to representatives.

You might be interested in this:
http://www.gata.org/node/6469

"William Greider: The Fed is the problem, not the solution

Submitted by cpowell on Mon, 2008-08-04 18:36. Section: Daily Dispatches

Economic Free-Fall?

By William Greider
The Nation magazine, New York
Wednesday, July 30, 2008

http://www.thenation.com/doc/20080818/greider

Washington can act with breathtaking urgency when the right people want something done. In this case, the people are Wall Street's titans, who are scared witless at the prospect of their historic implosion. Congress quickly agreed to enact a gargantuan bailout, with more to come, to calm the anxieties and halt the deflation of Wall Street giants. Put aside partisan bickering, no time for hearings, no need to think through the deeper implications. We haven't seen "bipartisan cooperation" like this since Washington decided to invade Iraq.

In their haste to do anything the financial guys seem to want, Congress and the lame-duck President are, I fear, sowing far more profound troubles for the country. First, while throwing our money at Wall Street, government is neglecting the grave risk of a deeper catastrophe for the real economy of producers and consumers. Second, Washington's selective generosity for influential financial losers is deforming democracy and opening the path to an awesomely powerful corporate state. Third, the rescue has not succeeded, not yet. Banking faces huge losses ahead, and informed insiders assume a far larger federal bailout will be needed -- after the election. No one wants to upset voters by talking about it now. The next President, once in office, can break the bad news..."

and this:

"

Secrets of the Temple: How the Federal Reserve Runs the Country (Paperback)

by William Greider (Author) "In the American system, citizens were taught that the transfer of political power accompanied elections, formal events when citizens made orderly choices about who shall..." (more)"

It's a book that's been out for a while and really really long read.  I'm not sure if I ever finished it.




Edited by Slartibartfast - September 23 2008 at 12:56

Isn't it interesting that the Fed. Reserve was partially created to help prevent our banks from failing and all that, then the great depression happened a few years later.


Anyways, I just sent a bunch of Emails to representatives.

I can has new revolution?

It makes me so angry I really can't articulate anything but rage. 

As Brian says, they want all the profits, no regulation, privatize this and free-market that.   But when it all goes to hell because of their greed, then government is GOOD all of a sudden.  Then they're right in line for a hand-out like the welfare folks they hate.  The hypocrisy is stunning, just beyond belief. 

Oh yeah, and Bush says that no "punitive measures" should be allowed in the bill.  That's right, give them taxpayer dollars to reward their colossal f-ck up, but no, you can't punish anyone. 

Maybe it's necessary, who knows, that's not the point of my post.  The point is that these people should get called on their behavior rather than rewarded for it, and I don't really hear that happening in the media or in congress yet.  Those that broke laws or rules should also have their profits for the last few years taken back and be thrown out of the banking business--in a fair world.  I hope a few Reps and Sens speak out. 

Naivety.  Sure.  Just pissed off over this. 

I suppose it all depends on what funny business has gone on.  Maybe an evaluation of the executive's finances needs to be done by our friendly neighborhood Federal Bureau of Investigations, and if it appears that some of the more unscrupulous types have 4 or 5 too many homes, airplanes, yachts, sports cars, then these individuals should face the same spotlight as our former Enron buddies, and they should also be made to foot the bill.