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Old 02-19-2011, 10:24 AM
pvs
 
1,845 posts, read 3,364,859 times
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Quote:
Originally Posted by newjitty View Post
agreed...love how NJ Teachers Union Head keeps preaching..

"It's for the kid$$$$$"

meanwhile his annual take home last year was $550,000...

$550,000 for 1 year. maybe he could share that with some of the kid$$$$$$$.
The NJ Teachers Union Head is NOT a teacher ... nobody is going after him, or his salary (or have I missed that news?). They seem focused on the mid-class teachers and workers.

I don't really expect you to understand the difference, though.
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Old 02-19-2011, 10:26 AM
pvs
 
1,845 posts, read 3,364,859 times
Reputation: 1538
Quote:
Originally Posted by bradykp View Post
this certainly won't be very popular, but matt taibbi was on bill maher last night talking about his newest book. i wouldn't exactly use him as a "source", but he did say something funny about how the financial melt down not a single person has been criminally prosecuted, the investments that helped crush our economy (and the pensions), and yet we read in the news that the pensions are breaking states. i'm not saying i agree with it 100% but it's a good point. ok....flame away.
Interesting, brady. I already put a link to this on another thread ... but it fits so well with your post ... Why Isn't Wall Street in Jail? | Rolling Stone Politics
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Old 02-19-2011, 11:34 AM
 
858 posts, read 707,395 times
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When you dig deep into it, everyone is to blame. Republicans want trickle down economics so thats why they give the tax breaks to the rich and support legislation big business wants. The problem is there's no accountability. Why can't we have the tax breaks like the one Christie gave to millionaires be on condition that they show that the trickle down is working. Show that they increased wages for workers, hired new workers and didn't have layoffs. Otherwise it's just going in their pockets.

As for teachers, I do agree unions have asked for alot but that's part of negotations. You ask for 6%, they offer 2%..you meet at 4%. I do think unions need to be reasonable in demands though. Besides, the vitrol towards public workers going on now shows why the union is needed. I've seen many posts of people looking at a teacher who's been teaching 30 years and makes $85,000. Without knowing who she is or her education or how she is in the classroom, they want to get fire her simply because they call the salary outrageous.

Likewise, everyone is bashing raises stating times are tough. Fine...simple compromise...negotiate the raises..say 3%. if unemployment hits 7%, the raise drops to 2%, and so on. At 9% as we are now, it becomes a pay freeze. Also, again based upon comments, it shows why union is needed especially for public sector salaries. Public sector budgets are constantly being slashed, frozen etc. School budgets are voted down for no other reason that people don't want a tax increase. I ask this scenario. If you are the person in charge and there is no union, would you give a 1% raise to public workers to maintain no tax increase or would you give a fair raise but it will increase taxes. I'd think most people would try to get away with 1% for as long as possible because they want to get re-elected. Also, if the same person came across a major budget surplus, do you think it's more likely to give a nice raise to the public workers who you have been giving 1% each year or would you try to use it for other projects? I think it becomes a slippery slope and a very dangerous slope to the state.
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Old 02-19-2011, 02:03 PM
 
327 posts, read 881,564 times
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Quote:
Originally Posted by pvs View Post
The NJ Teachers Union Head is NOT a teacher ... nobody is going after him, or his salary (or have I missed that news?).
Did you miss the irony in that the man who supposedly serves "middle-class" union workers reaps in over half a million dollars per year?

Did they teach you irony in school?
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Old 02-19-2011, 03:05 PM
 
Location: West Orange, NJ
12,546 posts, read 21,395,557 times
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Quote:
Originally Posted by pvs View Post
Interesting, brady. I already put a link to this on another thread ... but it fits so well with your post ... Why Isn't Wall Street in Jail? | Rolling Stone Politics
yeah, that's him. i think he's a bit off his rocker at times, but he makes some compelling arguments.
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Old 02-19-2011, 03:19 PM
 
327 posts, read 881,564 times
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Quote:
Originally Posted by JERSEY MAN View Post
As a registered republican I am going to burn my registration card.
..not sure what you're implying but it's well known that Wall Street heavily voted/donated to Democrats (except maybe Merrill)..

Democrats are darlings of Wall St. - Los Angeles Times

and I do agree that they need to be held accountable but that's not gonna happen as we all know the country is run from NY, not DC...

coincidence??


Goldman ‘Should Win Big’ Under New Regulations
Goldman 'Should Win Big' Under New Regulations - NYTimes.com
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Old 02-19-2011, 03:22 PM
 
Location: West Orange, NJ
12,546 posts, read 21,395,557 times
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Quote:
Originally Posted by newjitty View Post
..not sure what you're implying but it's well known that Wall Street heavily voted/donated to Democrats (except maybe Merrill)..

Democrats are darlings of Wall St. - Los Angeles Times

and I do agree that they need to be held accountable but that's not gonna happen as we all know the country is run from NY, not DC...

coincidence??


Goldman ‘Should Win Big’ Under New Regulations
Goldman 'Should Win Big' Under New Regulations - NYTimes.com
wall street gives (more) money to whomever they think will win to ensure favors will be owed to them by the winners. this isn't anything new.
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Old 02-19-2011, 06:57 PM
 
327 posts, read 881,564 times
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Quote:
Originally Posted by bradykp View Post
wall street gives (more) money to whomever they think will win to ensure favors will be owed to them by the winners. this isn't anything new.
agreed, but still don't get some union rhetoric about greedy "Republican" rich bankers...

.. when 7 out of 8 brokerage houses voted Democrat and reaped financial gains at the expense of Main Street this and last year (despite the public finger wagging by the Administration)..

..if anything smaller credit unions and mom and pop savings and loans banks were destroyed by the finance bill by way of M & A (ie Lehman purchased by Barclays).. The top banks who donated to the Dems howevers (GS, JPM, DB, etc) made out great and are reaping rewards of public money.
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Old 02-21-2011, 10:08 AM
 
Location: West Orange, NJ
12,546 posts, read 21,395,557 times
Reputation: 3730
Quote:
Originally Posted by newjitty View Post
agreed, but still don't get some union rhetoric about greedy "Republican" rich bankers...

.. when 7 out of 8 brokerage houses voted Democrat and reaped financial gains at the expense of Main Street this and last year (despite the public finger wagging by the Administration)..

..if anything smaller credit unions and mom and pop savings and loans banks were destroyed by the finance bill by way of M & A (ie Lehman purchased by Barclays).. The top banks who donated to the Dems howevers (GS, JPM, DB, etc) made out great and are reaping rewards of public money.
how do brokerage houses vote? the bankers donate to both parties, in large sums. they usually are pretty good at analyzing who's likely to win, and donate more to that party. it ain't voting, it's hedging their bets. people get all hung up on republican and democrats....they're all heavily financed by wall street either way.
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Old 02-21-2011, 10:24 AM
 
3,984 posts, read 7,073,485 times
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Quote:
Originally Posted by bradykp View Post
how do brokerage houses vote? the bankers donate to both parties, in large sums. they usually are pretty good at analyzing who's likely to win, and donate more to that party. it ain't voting, it's hedging their bets. people get all hung up on republican and democrats....they're all heavily financed by wall street either way.
Wall St. firms like Merrill Lynch & PaineWebber once sold stock to you & me and the Goldmans and Morgan Stanleys helped large firms with their financing, stock issues and M&As. They also accounted for less than 15% of the country's profits. Then the 80s & 90s happened and thanks to movies like Wall Street, eggheads at MIT ("quants") who once would be doing chemistry or physics came to Wall St. to make fortunes and began designing indecipherable derivatives & mortgage-backed instruments that went far from the original purpose of Wall St. They couldn't even properly price the junk but Wall St. loved it regardless. We saw what happened in 2008 when even the "smartest" firms made stupid bets and over-leveraged themselves on the housing boom.

And the junk could've been reined in had we had some government watchdogs with teeth. Wall St. pays to make sure that that won't happen either.
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