Hooray for Class Warfare

January 29, 2009 · Filed Under Economy 

I got an email to this site today from “Carol”…

My husband and I feel all of the people on Wall Street that received all the money for a bonus should have to pay it all back. After all that is our tax dollars they are spending. That is shamefull. They need to do some prison time who ever they are. That is fraud.

Carol, I hate to break it to you, but not all people on Wall Street who earn bonuses are the evil caricatures you see in the media.

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    Example allot of traders on the floor. Get paid peanuts during the year. I know one that has to live with his parents. Then based on performance he gets a bonus check. Yes they would be included in the 18 billion.

    If journalist and our politicians did there job instead of first doing research into it then open there trap.

    Just like the evil oil company. They got X profit but no one reported the details and said the govenrments got X+.
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    I wonder which news media channel Carol follows. One could only guess!
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    Several of the AIG executives agreed to work all year for only $1.00, provided they receive their bonus - which was contractually agreed upon. How can the feds now make them give up their bonuses?

    Had the government simply allowed AIG to fail (which it should have), there would be no bonus issue to fret about. The fault was in letting Paulson, Geithner, Obama, Dodd, et al amass the power to bail out their friends. The fault lies with government, and nowhere else. And now that AIG has federal cash to prop it up, it has been lowering its insurance premium prices in order to get new customers - at the expense of its competition... which did not receive bail-outs. So, the company that was "too big too fail" is now going to grow even larger - thanks to the idiots in Washington!

    To those who hate big salaries... should we limit the money Madonna gets for concerts? Movie stars? Baseball players? Plumbers? Union presidents? Lawyers? Bad teachers? Who gets to make all these decisions? What lunacy! Even if it were morally acceptable (which it most certainly certainly is NOT) it is administratively impossible. If you want state control over everything, move to Cuba.

    Granted, AIG was run into the ground by some idiots. So was General Motors. But would you make the Chevrolet salesmen return their commissions just because their company produces garbage?

    To those who want the feds to go after the bonuses, all I can say is: wait your turn... I'm sure Obama will get around to you soon enough.

    www.colony14.net
 

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