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If my company was going under, there would be no bonuses.
The height of irresponsibility in these actions clearly indicates that this should stop, now, and that all monetary support should be recalled and rescinded.
Did you republicans all have "it's Bush's fault" moments a few months ago?
If not, you're disingenuous at best.
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.
Is it outrageous? Or is it their business what they do with their money?
Normally I would say it is their business. However, when they came hat in hand to congress for money and then spend insanely it is outrageous. Though its largely congress and Bush's fault for doing such a stupid give away. If we were truely a capitalist country the government would have said tough luck, if this were any other country on the planet and we decided not to take the capitalist approach nationalization would have been part of the bailout deal. But no in America we don't do socialism. We do socialism stupidly.
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.
Wrong!
That is exactly the point. It is not in their interest to pay these bonuses, as any other expense. It is only in the personal interestof these executives to get the money. Since they have the power, they created "exclusive clubs" where each member supports the others demandS and they all do it at the expense of the company.
Talent exists at all levels. Talented low ranking employees will tomorrow be at the top of their company as successful managers. But for some reason, their talent is ignored. When junior employees asks for even a modest raise, they are shown the door, with the excuse that the company cannot afford that raise. Who decides what's in the interest of the company? The overpaid managers... (And what will the so called talent do if companies refuse to pay these astronomical bonuses? Will they stay at home, tending their garden?). We all saw it this week with the Yankees baseball team. Their pitcher (a great talent, (who was a free agent) had once a $16M contract, but refused a proposed $10M contract and stayed home. Later, when Yankees management lowered their offer even more, he decided that even $4M is good money in these days...
Besides congress (who gave the money unconditionally, but as a one time deal) it is the duty of shareholders to curb this abuse, lie and hypocrisy, at all times.
^^^ That is very fair, but the shareholders don't have a stake on most of these corporations anymore, do they? I thought when they accepted bailout money a majority of their shares got wiped out, I could be wrong there though I thought this happened at AIG (maybe the TARP works differently). I'm just saying realistically if you don't attach strings on several billion dollars weird **** is going to happen. The shareholders bonged things for at least a decade so I'm not confident putting the economy in their hands either.
It's not Congress's money and it shouldn't Wall Street's, either.
It's OUR money, our children's, and our children's children's. And now it's gone, and why? To keep them comfortable and to minimize their stress.
Well eff them all.
These fatcats -- both the financiers and the politicians -- are cowards, liars, and pigs. And that includes everyone from the Wall Street scumbags to Nancy Pelosi and her gang of thieves. They need to have their names and pictures on televison every night, so that everyone who loses their job or their home can identify who did it to them and where they can be found...
This is disgraceful.
now i'm not in favor of the fat cats, but it's not their fault our elected officials gave them our money.
now i'm not in favor of the fat cats, but it's not their fault our elected officials gave them our money.
Which is why we ought to pay a little more attention to the people we elect. The presidential election gets all the coverage; how many people know who they've just voted into Congress or the Senate?
It's ridiculous. All of that bonus money could be used to help improve the economy rather than wasting it on people who are most likely wealthy themselves.
It's ridiculous. All of that bonus money could be used to help improve the economy rather than wasting it on people who are most likely wealthy themselves.
Which is why we ought to pay a little more attention to the people we elect. The presidential election gets all the coverage; how many people know who they've just voted into Congress or the Senate?
Spot on.
All this ''aren't we glad we live in a blue/red state" crapola is finally being unmasked as so much brainless drivel.
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.
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