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In my opinion. I believe there should be at least a 3-5 year "clawback" of bonus pay for many mid level to high level executives at these corporations.
This provision would prevent the usual Wall Street motto "IBG"...aka "I'll be gone" before they realize it thinking.
Think about it. As a physician, I can still be sued up to 3 years if I make a mistake. I may or not lose my medical license or get reprimanded by the State.
Why can't Wall Street be sued up to 3 years if they make a mistake? The mistake being fraud. I am all for profit and risk taking. But at some point, it can cross the line and there needs to be deterrents against fraud.
I read somewhere there not a single person has ever been charge on wall street with the 2008 financial meltdown.
The AIG Joe Cassando was one of the main people responsible for the financial mess but it escapes scot free along with not paying back a single cent of the hundred of millions he earned.
Four months ago, it appeared all but certain that the White House and Democrats in Congress would succeed in overhauling the student loan business and ending government subsidies to private lenders.
But an aggressive lobbying campaign by the nation’s biggest student lenders has now put one of the White House’s signature plans in peril, with lenders using sit-downs with lawmakers, town-hall-style meetings and petition drives to plead their case and stay in business.
This game has been going on for centuries and you think its just da guberment.
The proposal of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it.
Adam Smith
Not a dam thing you posted, has anything to do with a fricken thing I said
They bailed out the bankers too. That's why the bankers bonused themselves MILLIONS the following year under the premise that they "exceeded their quotas."
Guess its easy to do with tax free money.
There is a difference between being able to benefit from governments stupidity and being bailed out.
Peasants have given their votes though, and those votes are highly valued by politicians.
Selligyour voye to highest bidder is pretty much what the greeks did.Besdies didn't you read that Obama wants bankers to loan more to those with bad credit again the other day. nest think you know he wilkl want to expand down payment and closing assitance also;which betweent eh three should give a clue as to who drove what policy.
Peasants never paid into the system they want to pillage. Wealthy bankers and corporations have contributed BILLIONS to play. Tax money paid should not flow only one way.
Not in many cases... you will find the wealthy use many loopholes to evade taxes, including hiding money offshore, like Romney. Or setting up trusts, or hedge funds, land trusts, or shell corporations, or having kids as advisers or renting your home out to yourself, the list is endless.
In reality, the middle class pays the taxes while the poor and rich avoid them, like many corporations.
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