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[SIZE=3]We all know that this is the biggest bail- out in the history of the nation, but still we are talking about if we don't this we are going to loose more than what we are loosing today. Let's see when it comes to a middle class citizen, how many times you go to the store and say well we really don't need this, so let’s not talk about it or not buy it. Your kid’s new shoes, getting stuff for the house hold buying clothes for your kids and many more things that you would have bought for you and your kids because these are the thing that may come in use in very near future and you can buy them on sale. Even with this crisis, there are no pay cuts in CEO's paycheck and there bonuses or golden umbrella packages for the company. AIG offered close to 23 million to his CEO who was not able to keep the company out of distinction. We can easily get that 700 billion dollar if we focus and start trimming some of these expanses of the folks that are getting paid 300 to 400 thousand dollars a year and working for a company. I am not talking about doctors and people who really work in saving lives. I am talking about financial world. Why a CEO does has to make $200 to $300 thousand per year while the employees are struggling to come to work. The CEO should be paid in 2 ways, there salaries and all the other benefit they enjoy. [/SIZE]
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[SIZE=3]Please stop this nonsense about saving companies while they destroy the economy on hand. If we don't save them the companies that are still in business will offer more to get the money in to there institution. Bank, Pharmaceuticals and gas companies has made macary of this nation by doing whatever they feel is good for them and has no regards for the regular citizens. Stop sending the resources out of the country and if you do than create the same mount of jobs here so the economy will not suffer. Well I don't want to keep going because this is terrible. I hope they make some serious cuts for these big shots in the companies to turn the economy around. Just my thoughts. [/SIZE]
Absolutely Agree!One only needs to look back to early America (1770’s) to see how vastly different our forefathers dealt with unpopular issues that affected their financial well being. The best known example was the Boston Tea Party. Can you imagine Americans today throwing out an oppressive overlord as the early Americans did? No! We simply and meekly talk about, write about it, complain about it. Then, we meekly roll over and accept yet more financial burdens on our already broken, tax paying backs.
Today, major companies on Wall Street struggle to remain upright. These are financial institutions that were deemed as invincible as the Titanic, yet they are sinking as she did. Now, where are the financial wizards of Wall Street crying for help? The US government, of course! And, the US financial resources are “us”, the few, the working and weary tax paying middle class. Meanwhile, the corporate financial elite have been paid millions of severance dollars when they fail and are fired. Now, we are being asked to pay for their bad and highly risky decisions. [/SIZE][/font]
How much longer and how many more tax burdens are you willing to have placed on your financial yoke before it breaks? One more straw on the camels back! How many more can you take? Now’s the time to stop talking about it, complaining about it and writing about. Now is the time to act on it! What you’ve done so far hasn’t worked so do something that will.
Last edited by Waterlily; 09-27-2008 at 05:33 PM..
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I don't see why we have to bail out the banks. I don't feel one bit sorry for them and their preditory lending practices. They should do away with the variable rates morgages and by that I mean make them Illegal. Also hey how about some credit card reform aka loan sharking!!!!!!! Limit the interest rate on the cards to a maximum of 12 percent annually. Now about the practice of reselling loans to other banks, make that illegal too. Well thats the way I see it.
Noone feels bad for the banks or CEO's, thats not the intent of the bailout. Imagine a time 6months or a year from now where all major banks went under, you can't get a mortgage or car loan, your kid who is in college is now denied his student loan privilages for his last three years in college, which you will now have to pay out of pocket at 40k a year, the stock market crashes, causing you to lose your job, you cant pay your mortgage, so you foreclose, and now your whole family including your 2 kids who have now dropped out of college are living in a 1 bedroom apt. it will be the next Great Depression. And as for financial ppl not dserving 200 to 300k a year, most of these ppl paid top dollar to go to the best Ivy league schools and study there buts off for 8 years and get a masters or phd in there field and have worked there way up the corporate ladder over the course of 20years, Yes now they do deserve a fancy lifestyle, just as doctors do. And by the way, all the CEO's of all the banks in the US salaries combined wouldnt equal 1 % of the $700 billion plan, so i think you are way off track with your complaints. Please feel free to correct me anywhere I was untruthful.
Noone feels bad for the banks or CEO's, thats not the intent of the bailout. Imagine a time 6months or a year from now where all major banks went under, you can't get a mortgage or car loan, your kid who is in college is now denied his student loan privilages for his last three years in college, which you will now have to pay out of pocket at 40k a year, the stock market crashes, causing you to lose your job, you cant pay your mortgage, so you foreclose, and now your whole family including your 2 kids who have now dropped out of college are living in a 1 bedroom apt. it will be the next Great Depression. And as for financial ppl not dserving 200 to 300k a year, most of these ppl paid top dollar to go to the best Ivy league schools and study there buts off for 8 years and get a masters or phd in there field and have worked there way up the corporate ladder over the course of 20years, Yes now they do deserve a fancy lifestyle, just as doctors do. And by the way, all the CEO's of all the banks in the US salaries combined wouldnt equal 1 % of the $700 billion plan, so i think you are way off track with your complaints. Please feel free to correct me anywhere I was untruthful.
I am glad that you are that patienate about this. One thing that I see in your post is that we are complaining but these are the facts. I am sorry that you feel that a CEO should be paid and have a fancy lifestyle while the workere who got him that position are suffering because the company CEO made a bad decision and the company went under. Why were banks not careful when they were giving out loans. No money down, no doc loans, these are few things that are just out of this world. WaMu went under and is taken over and sold to JP morgen while the CEO is in the air while this transaction took place and is offered 19 million dollars, does that make any sence when we are trying to bail these companies out. You want to tell that to the people who lost there jobs that it is fair. So when you come around to talk about that CEO's should be paid becasue they went to school for 8 years and spent lot of money to go to college doesnot give any company official a right to make a bad decision and still get paid. How come no other employee in the company gets that sevierence checks. This is another way to help companies and to give them an idea that it is ok to make bad decisions because the government will pay for your mess. There are so many examples that I can give you where companies went under and the only one person that made money is the CEO. This has to stop for our economy to flurish. Everyone should be responsible for their actions. .
And as for financial ppl not dserving 200 to 300k a year, most of these ppl paid top dollar to go to the best Ivy league schools and study there buts off for 8 years and get a masters or phd in there field and have worked there way up the corporate ladder over the course of 20years, Yes now they do deserve a fancy lifestyle, just as doctors do.
While I do agree with you, you must remember: doctors can also get sued/fired for malpractice. So should the people who ****ed up in this mess. And, I don't think executives who **** up a company (or an economy) deserve golden parachutes. However, the American people DO deserve not to be strapped for credit, to be employed, and to not feel the burden of this just because these financial "doctors" left the scalpel in the patient.
Noone feels bad for the banks or CEO's, thats not the intent of the bailout. Imagine a time 6months or a year from now where all major banks went under, you can't get a mortgage or car loan, your kid who is in college is now denied his student loan privilages for his last three years in college, which you will now have to pay out of pocket at 40k a year, the stock market crashes, causing you to lose your job, you cant pay your mortgage, so you foreclose, and now your whole family including your 2 kids who have now dropped out of college are living in a 1 bedroom apt. it will be the next Great Depression. And as for financial ppl not dserving 200 to 300k a year, most of these ppl paid top dollar to go to the best Ivy league schools and study there buts off for 8 years and get a masters or phd in there field and have worked there way up the corporate ladder over the course of 20years, Yes now they do deserve a fancy lifestyle, just as doctors do. And by the way, all the CEO's of all the banks in the US salaries combined wouldnt equal 1 % of the $700 billion plan, so i think you are way off track with your complaints. Please feel free to correct me anywhere I was untruthful.
I don't think you meant to be untruthful, but you are comparing apples and oranges.
Your differential diagnosis is flawed. I've worked alongside physicians for a while now. I have seen doctors get fired for a variety of reasons with incompetence being the most frequent reason.
I have yet to see (and hope I never see the day) when a physician gets a multi-million dollar exit package for killing a patient.
Too many CEO's have received multi-million dollar bonuses for driving their companies into the ground. That practice is a disservice to the shareholders and to the market as a whole.
While I do agree with you, you must remember: doctors can also get sued/fired for malpractice. So should the people who ****ed up in this mess. And, I don't think executives who **** up a company (or an economy) deserve golden parachutes. However, the American people DO deserve not to be strapped for credit, to be employed, and to not feel the burden of this just because these financial "doctors" left the scalpel in the patient.
I agree. This is not a right but a privilegde and should be awarded to a person if that person had made an effort to improve the company and manages its assets well.
And as for financial ppl not dserving 200 to 300k a year, most of these ppl paid top dollar to go to the best Ivy league schools and study there buts off for 8 years and get a masters or phd in there field and have worked there way up the corporate ladder over the course of 20years, Yes now they do deserve a fancy lifestyle, just as doctors do.
So the people who have worked since they were teenagers, are busting their butts 12 hours a day at a job, work from sun up to sun down, get treated like dirt when really they are the backbone of business, and still they still need to work a second job deserve what kind of life?
And as for financial ppl not dserving 200 to 300k a year, most of these ppl paid top dollar to go to the best Ivy league schools and study there buts off for 8 years and get a masters or phd in there field and have worked there way up the corporate ladder over the course of 20years, Yes now they do deserve a fancy lifestyle, just as doctors do.
My graduate professor got his BS in engineering from UC Berkeley, MS and PhD from CalTech, and studied waaay harder than finance people. When he stamped plans, he pretty much puts his career on the line should a building fails. I can tell you for sure he's not getting a CEO pay, despite his responsibilities.
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How Much More Are You Willing to Take?
Bank bailout needs bank reform
Bail out
