Post by debster on Oct 28, 2008 11:43:56 GMT -5
i think it's astounding that while people are so entrenched in the media blitz of election coverage that so little is being said about the gov't bail out of wallstreet lately. i was thrilled to hear obama make reference to the AIG "holiday" in calif. that chewed a nice $440,000.00 out of the funds our children and grandchildren and great-grandchildren will be paying to cover that debt during his debate with mccain. but why haven't we heard about the gov't forcing AIG to return the funds? why haven't we heard about any form of punishment at all? because it ain't happening.
and now it's being said that as much as $70 billion dollars, or 10% of the entire $700 billion bailout is being used as bonuses for the same wallstreeters that caused this economic cluster-fuck in the first place. morgan stanley has set aside a pool of bonus funds from their bailout that is large enough to have bought the entire firm while it's stocks were suffering before their cash windfall.
now correct me if i'm wrong, but i was under the impression that there were supposed to be stipulations written into the passage of this bailout bill that kept these greedy bastards from being able to rob the coffers any further. nope. didn't happen. the banks and brokerage firms have full discretion as to how they use these funds. and all the threats of the backlash that will occur won't keep those folks from sipping a cool drink on the tropical island of their choice after leaving wallstreet, and the worlds economy, in the shitter.
and the comment that i just loved the most? "it may not be ethical, but hey, it's legal."
and now it's being said that as much as $70 billion dollars, or 10% of the entire $700 billion bailout is being used as bonuses for the same wallstreeters that caused this economic cluster-fuck in the first place. morgan stanley has set aside a pool of bonus funds from their bailout that is large enough to have bought the entire firm while it's stocks were suffering before their cash windfall.
now correct me if i'm wrong, but i was under the impression that there were supposed to be stipulations written into the passage of this bailout bill that kept these greedy bastards from being able to rob the coffers any further. nope. didn't happen. the banks and brokerage firms have full discretion as to how they use these funds. and all the threats of the backlash that will occur won't keep those folks from sipping a cool drink on the tropical island of their choice after leaving wallstreet, and the worlds economy, in the shitter.
and the comment that i just loved the most? "it may not be ethical, but hey, it's legal."
