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We are certainly in a dilemma. However the one thing no one seems to expect in the bailout is the immediate termination of the executive staff. They all need to be fired and replaced with people competent enough to do the job. The Boards need to be replaced as they stood by as it happened. There should be NO bonuses, and NO parachutes for any of them. they should walk out with their box in hand and thats it. Do not give the money to the incompetent execs that made the mess to begin with.
This bailout is about the government buying up securities with a reverse auction. It is not about tinkering with individual firms.
There are certainly management and compensation issues at many firms but that is an issue to addressed with a different initiative.
This is just a continuation of the coup that started before the Patriot Act. The Bush/Cheney clans are men who would be Kings or Emperors not merely elected officials.
Blah blah blah blah blah. Take your partisan conspiracy paranoia to the P&OC forum. We prefer serious discussions here.
Blah blah blah blah blah. Take your partisan conspiracy paranoia to the P&OC forum. We prefer serious discussions here.
Hahaha... you will always have someone trying to put in a political slant with these things... because as sad as it is, there is no separation of Corporation and Government... however there is no "real" separation of Church and Government either... However GregW does have a tendency to inject a lot of political talk into the matter but then so do I at times..
I can accept that it's impossible to separate the political from the economic in this matter. That doesn't mean I have to respect a hyperbolic partisan harangue from a barking lunatic.
I can accept that it's impossible to separate the political from the economic in this matter. That doesn't mean I have to respect a hyperbolic partisan harangue from a barking lunatic.
Not too partisan, sadly enough.
Enough D's voted for the [un]Patriot Act to get it through.
But I agree this is less a partisan (as in D v. R Parties) issue than a Class issue.
This is mostly 1st, 2nd, 3rd and Steerage Class fighting over who gets a lifeboat.
Lotta Drama, but the boat always goes down the same way.
It's a government issue. The middle class is being wiped out by the monied banking interests of the Northeast and Bureaucrats that purchase votes with money that doesn't belong to them to people that don't deserve it (which ultimately ends up back into the pockets of the corporate establishment anyway and raises the costs of Americans that actually pay their own way due to increased demand of goods and services from illegals and 3rd-4th generation welfare queens who don't know a life of anything other than sucking on the breast of government entitlement).
the middle class is pounded by welfare queens that live off the government dole (my money that I worked for) and the various corporate monied interests that run our shadow government (which is a complete distortion of free markets and leads me to believe that our government is nothing more than a tool for the elite to pillage and rape the American tax payer).
This bailout is about the government buying up securities with a reverse auction. It is not about tinkering with individual firms.
There are certainly management and compensation issues at many firms but that is an issue to addressed with a different initiative.
They want to buy them at FACE value..not the $.30-.40 they are worth now.
Then they will have to hope that housing takes a 360 degree turn and go north so they can recoup.
If that sounds so reasonable..then why does the Fed have to buy them back to begin with ?
I think maybe none of this matters when we have the fox guarding the hen house..
Henry M. Paulson
He joined Goldman Sachs in 1974, working in the firm's Chicago office. He became a partner in 1982. From 1983 until 1988, Paulson led the Investment Banking group for the Midwest Region, and became managing partner of the Chicago office in 1988. From 1990 to November 1994, he was co-head of Investment Banking, then, Chief Operating Officer from December 1994 to June 1998;[8] eventually succeeding Jon Corzine (now Governor of New Jersey) as its chief executive. His compensation package, according to reports, was US$37 million in 2005, and US$16.4 million projected for 2006.[9] His net worth has been estimated at over US$700 million.[9] Paulson has personally built close relations with China during his career. In July 2008 it was reported by The Daily Telegraph that: "Treasury Secretary Hank Paulson has intimate relations with the Chinese elite, dating from his days at Goldman Sachs when he visited the country more than 70 times."
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