by Bruce DavidEditorial Director
Hustler
It's an outrage. The very people responsible for destroying our economy -- the crooks on Wall Street -- saw no problem in giving out 18 billion dollars in bonuses despite the fact that their institutions are broke. Aren't bonuses supposed to be based on a percentage of the profits a business -- in this case a bank or investment house or brokerage house -- makes? They didn't have any profits in 2008! In fact, they asked the American people to bail them out. Had we failed to do so most -- if not all -- of the great banking and investment institutions would have failed. So it was your money and mine that they gave out in bonuses -- the tax money we gave the government which then went to the TARP.
Even more outrageous was the response of Wall Street when President Obama called them out on their actions. Ali Velshi, CNN's Chief Business Correspondent -- a regular Wall Street cheerleader -- actually had the nerve to defend the bonuses, saying they are considered a normal part of the salary on Wall Street. Sans bonuses, a lot of the lower echelon employees might only take home a mere $100,000 for the year. I say they're damned lucky if they take home anything. And I'm sure most Americans would be quite happy to make $100,000 or even $50,000 a year.
Meanwhile, FOX News was busy defending Wall Street by saying the bonuses were paid as a percentage of sales made by individual brokers. In other words, somehow the individual who made money for the company should be separated from the company itself which is broke. That almost makes sense except for one thing: The company is broke! They’re unable to fulfill their obligations to these employees. And I can’t afford to help them do so.
So here's the deal: I want our money back! All eighteen billion -- or twenty billion (the latest number I'm hearing) -- of the 700 billion that was part of the bailout. President Obama should immediately tell those criminal elitists on Wall Street he's taking that 18 billion out of the unpaid remainder of the TARP. If they want it back, Merrill Lynch and those other Wall Street creeps will have to recover it from the people they gave bonuses to.
And one other thing: CNN should fire Ali Velshi. He's a moron. As for FOX, who cares what they say? No one with half a brain believes them anyhow.
3 comments:
I agree! Have you read this? http://www.alternet.org/workplace/125192/it%27s_not_going_to_be_ok/?page=entire
If the fatcats can't live without bonuses let them quit! Like their going to find another gig like that in this market.
OK, but also I want KBR (Kellog, Broen and Root - V.P. Dick's old company) to be have some 'forensic Accounting' done on their Iraq books. We can not let the previous administration off the hook. A trillion dollars disappeared in Iraq alone....we need some accounting.
Jayson R. Jones
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