"Outrageous, Shameful, the Height of Irresponsibility": Obama Slams $18B in Wall Street Bonuses (Reagan, conspiracy)
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I just think its funny that Obama can lecture them on outrageous bonuses when he's pushing a government bailout that is throwing many many more billions away in wasteful spending. Wall Street has nothing on the US government.
So you wouldn't follow through with a pre signed contractual agreement?
Your company would fold under the lawsuits.... that is unless your employees have some sort of higher thinking and sense of justice.
freedom
I would have them sell assets to pay for it, or declare bankruptcy. But this issue points at why we need regulations. What happened to performance (personal and business) bonuses? I have worked as an executive for three corporations, and bonuses are conditional. How much one gets depends on personal performance, and how the company's business is holding up.
I would have them sell assets to pay for it, or declare bankruptcy. But this issue points at why we need regulations. What happened to performance (personal and business) bonuses? I have worked as an executive for three corporations, and bonuses are conditional. How much one gets depends on personal performance, and how the company's business is holding up.
Well if you have worked as an executive for 3 corps. then you would know that all Contracts are based on what they say.
Obviously these contracts were not based on performance.
A few fleeing thoughts.
The "fat cats" were fully cognizant that this predicament would arrive.
Now we are basically faced with the porkwagon in their laps or else we are going to see widespread financial suffering. I think they knew that!
If the Gov't. places regulations that are too stringent they will simply disobey, believing that contract language,
shareholders, the capitalistic system and all types of legalese is in their favor. They desire to continue to ram the American system up uncle sams nose knowing full well the situation will again result with putting the rest of us between the same rock and a hard place.
IMO it is the task of the Gov't. and the constituents to find the methods and means to circumvent what the "cats" have done and will continue to do to our nation. It may not look pretty in many respects and we may never look quite the same--but it must be done.
[quote=delusianne;7232713]"Outrageous, Shameful, the Height of Irresponsibility": Obama Slams $18B in Wall Street Bonuses quote]
From the article:
"At a time when the nation is suffering, it is amazing to think they squandered the money that way. That $18 billion could have been used to elect a Democrat for the next 12 elections. We could use it to throw an even bigger innaguration! We could fund ACORN for a year." After hearing of his comments, Nancy Pelosi stated "Obama is right! Think how many abortions we could fund with $18 billion. Even better, we could buy another C-40 jet to make my commute even easier."
"Outrageous, Shameful, the Height of Irresponsibility": Obama Slams $18B in Wall Street Bonuses quote]
From the article:
"At a time when the nation is suffering, it is amazing to think they squandered the money that way. That $18 billion could have been used to elect a Democrat for the next 12 elections. We could use it to throw an even bigger innaguration! We could fund ACORN for a year." After hearing of his comments, Nancy Pelosi stated "Obama is right! Think how many abortions we could fund with $18 billion. Even better, we could buy another C-40 jet to make my commute even easier."
The business perspective would be that if every other company in their industry is paying out the bonuses they need to do the same to keep top talent.
I'm not saying it's a good idea, or really what I would do, but again it's not my company and there were no strings attached to the money. So they can do basically whatever they want if they think it helps them out, congress should have prevented that by being more firm on the TARP.
Normally I would agree with you. But A. No bank, fund, etc. on the street is making any money, so there is no preformance to justify the pay & b. Where are these high preformers going to go? nobody is hiring and unemployment in finance is through the roof.
If the number is right, It's an outrage. I see shareholder lawsuits in the future.
........Did you republicans all have "it's Bush's fault" moments a few months ago?
If not, you're disingenuous at best.
Anybody here who thinks their party's power players, movers and shakers don't run in the same circles as wall streeters, banking heads, media heads, academia heads, entertainment heads and so on are political chumps who bicker and fight like trained chimps for their exalted "leaders".
Wash, DC has less in common with Mr Smith Goes to Washington and more with Debbie Does Dallas.
Maybe they'll give us a banana if we fight real well on their behalf.
Location: Moose Jaw, in between the Moose's butt and nose.
5,152 posts, read 8,510,726 times
Reputation: 2038
Quote:
Originally Posted by gsupstate
When children are going to bed hungry tonight???? Yes, it should be put out there. Obama's 150 Million was simply for his personal glorification. Explain to the hungry child tonight that a person who said they would bring "change" to Washington, brought the change in the form of THE MOST EXPENSIVE INAUGURAL EVER. Explain to the child how that will help their hunger pain. Explain to the thousands of laid off workers how THE MOST EXPENSIVE INAUGURAL EVER helps them have a job tomorrow. Obama is self serving and shameful.
Not thrilled about it however,
his donors paid for it, using funds after he was elected.
Except for police protection, no public funds were used for it.
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