Any Imbecile Should Be Able To Understand.....
What's so difficult about understanding that BAIL OUT MONEY is BORROWED money, NOT to be used for extraneous fluff such as promised bonuses to the hooligans and snake oil salesmen who drove us into this mess to begin with?
The argument that the bonuses were part of 'legal contracts' signed early last year, has nothing to do with the fact that the parties responsible for selling CRAP should now be somehow 'entitled' to hand-out money from taxpayers that was designated for use in shoring up tottering financial institutions.
These bank executives convinced their scalawag bosses that they were 'bringing home the bacon' - and the asshole bosses signed off on sweet bonus packages, but I'd say that since their shenanigans resulted in the bottom falling out of the marketplace- and HUGE DEBT for those same bosses, that should be enough for any reasonable person to cancel said bonuses, no matter HOW MUCH LEGALESE is flung out there. What's so hard to understand here? If the contracts were made BEFORE they received TARP funds, then I say the BONUSES must come from funds OUTSIDE the bail out money, even if those bosses have to sell their homes to meet what they insist are 'legal obligations.'
What I find MUCH more interesting....is how many big banks are now suddenly announcing they are 'doing better than they'd expected recently'- and would NOT be needing more TARP funds. Hmmmmmmmmmmmmmmm...
Might it not be that it's the talk of tighter regulations for those self-same banks taking TARP funding that has them a bit more reluctant to allow government to become more tightly enmeshed in what goes on with their books and their business? I'll just bet the news that "the administration will force A.I.G. to eventually repay the cost of the bonuses to the taxpayers as part of the agreement with the firm, which is being restructured" has those thieves pissing their pants right about now.
The prospect of someone actually monitoring these institutions, making them accountable, must have raised blood pressure all along Wall Street. LOL!!! (I still think there has to be legal means to call those bonuses back-- it's only common sense, ferchrissakes. They didn't deliver.....they BURIED those firms.)
But I have an interest now. You do too. We're part OWNERS, after all. Must make 'em furious. The words of the hour are OVERSIGHT, OVERSIGHT, OVERSIGHT......and, my God... DUE DILIGENCE.
The argument that the bonuses were part of 'legal contracts' signed early last year, has nothing to do with the fact that the parties responsible for selling CRAP should now be somehow 'entitled' to hand-out money from taxpayers that was designated for use in shoring up tottering financial institutions.
These bank executives convinced their scalawag bosses that they were 'bringing home the bacon' - and the asshole bosses signed off on sweet bonus packages, but I'd say that since their shenanigans resulted in the bottom falling out of the marketplace- and HUGE DEBT for those same bosses, that should be enough for any reasonable person to cancel said bonuses, no matter HOW MUCH LEGALESE is flung out there. What's so hard to understand here? If the contracts were made BEFORE they received TARP funds, then I say the BONUSES must come from funds OUTSIDE the bail out money, even if those bosses have to sell their homes to meet what they insist are 'legal obligations.'
What I find MUCH more interesting....is how many big banks are now suddenly announcing they are 'doing better than they'd expected recently'- and would NOT be needing more TARP funds. Hmmmmmmmmmmmmmmm...
Might it not be that it's the talk of tighter regulations for those self-same banks taking TARP funding that has them a bit more reluctant to allow government to become more tightly enmeshed in what goes on with their books and their business? I'll just bet the news that "the administration will force A.I.G. to eventually repay the cost of the bonuses to the taxpayers as part of the agreement with the firm, which is being restructured" has those thieves pissing their pants right about now.
The prospect of someone actually monitoring these institutions, making them accountable, must have raised blood pressure all along Wall Street. LOL!!! (I still think there has to be legal means to call those bonuses back-- it's only common sense, ferchrissakes. They didn't deliver.....they BURIED those firms.)
But I have an interest now. You do too. We're part OWNERS, after all. Must make 'em furious. The words of the hour are OVERSIGHT, OVERSIGHT, OVERSIGHT......and, my God... DUE DILIGENCE.
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