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They are marching in washington too... Wall St. and Congress are in bed together. I have no problem if people march on both.
I have this strange feeling if the march started in Washington you would tell them to go to the reserve or wall st. In my honest opinion I think you aren't a fan of those who are protesting so it really doesn't matter where they go...
I have a strange feeling you don't know me very well.
I also think you believe the protestors can not be wrong at all.
the people who say, "It's not Wall Street's fault", don't seem to have any interest in these at-fault entities (Congress, the President, or anyone they vote for) actually regulating Wall Street.
Respectfully, Cletus, perhaps you missed my posts where I clearly stated, several times, that the problem is with regs and legislation and in Congress and the White House . . .
Folks do what they do b/c they are legally able to do it. So go to the governance source: legislators.
I'd be curious to know exactly why you believe so. Not being argumentative. I genuinely want to know the answer since there are a lot of different directions one could go with that point.
Banking executives study hard all their loves, go to college and spend big bucks to obtain their MBAs. Then they start out as apprentices making peanuts. Then they work 80 hours a week in various intern programs for their institutions. Finally, they have very stressful lives, still working 60-80 hours a week, can only take 'working' vacations, and push employees to work hard and produce as they are the main source of their sometimes exhuberabt salaries. High ranking bank executives get $5-$7million annually.
Football players generally do poorly in high school. Get a scholarship only because they can play football well, have no asperations except to play ball. Have lives void of real stresses or pressure. Better players get up to $10 million annually. Some get $1 million per game. Some coaches get $5-$7 million annually.
Funny that people aren't out protesting football salaries and $100 plus tickets. Funny how people have set their priorities. They use their blind prejudices to set them. I would say that the banking executive performs the valuable service regardless of the salary he/she has negotiated for and receives.
I'd be curious to know exactly why you believe so. Not being argumentative. I genuinely want to know the answer since there are a lot of different directions one could go with that point.
For people who do and create nothing it is ridiculous. This bank is being propped up under the guise of buffett with tax payer money soon to follow.
For people who do and create nothing it is ridiculous. This bank is being propped up under the guise of buffett with tax payer money soon to follow.
Banks are hardly guilty of "creating nothing." In fact, they help fund creation via loans, though admittedly lately they've been fearful of losing again. The irony is they are afraid to take risks now but some are complaining that they won't take the risks. Then if they take the risk and it's bad, everyone will complain that they were poorly run and failing, damaging the economy.
I disagree about tax payer money "soon to follow" but if it is I suspect it'll be just like TARP - repaid with interest. As much as I hated TARP it has turned out to be a loan and not a bail out.
Banks are hardly guilty of "creating nothing." In fact, they help fund creation via loans, though admittedly lately they've been fearful of losing again. The irony is they are afraid to take risks now but some are complaining that they won't take the risks. Then if they take the risk and it's bad, everyone will complain that they were poorly run and failing, damaging the economy.
I disagree about tax payer money "soon to follow" but if it is I suspect it'll be just like TARP - repaid with interest. As much as I hated TARP it has turned out to be a loan and not a bail out.
Banks create nothing, they provide a service. Now they are going to start ripping off consumers all the while padding the executives pockets.
Here is some reading material for you, the banks are just plain self serving and have become disgusting.
So we don't NEED any industry that doesn't create a tangible product? Interesting.
As far as ripping off customers? Vote with your feet... and your money. Change to a different bank or credit union. In the free market someone will take your business.
On the last point? I get a tad concerned when a federal entity begins pushing loans. While I agree to a point, the last time the feds got heavily involved in pushing loans we had the Fanny/Freddie meltdown that helped lead to the house bubble bursting.
Banking executives study hard all their loves, go to college and spend big bucks to obtain their MBAs. Then they start out as apprentices making peanuts. Then they work 80 hours a week in various intern programs for their institutions. Finally, they have very stressful lives, still working 60-80 hours a week, can only take 'working' vacations, and push employees to work hard and produce as they are the main source of their sometimes exhuberabt salaries. High ranking bank executives get $5-$7million annually.
Hahahaha...I have to admit this is hilarious. Having worked a number of years in the banking industry, I can assure you there is no way those folks "earn" such exorbitant salaries. Many are borderline incompetent, and got where they are by being nothing more than Yes-men (and women). But I agree with lowcountry--we shouldn't blame the execs for taking all they're given. Blame the system.
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