Ok - just got back from a quick errand and had NPR on the radio. It was a panel discussion on bonuses, obviously because of AIG. The entire team bashed wall street pay and the moderator cluelessly lead them one. here is a sample, almost verbatim -
Mod - so say someone in wall st makes 200k annual, whihc is really an average wall st salary (jimmy - yeah, tell that to the 80% of wall st employees in fund accoutning, it, compliance, phones, etc) and they get a 400k bonus. So we hear on the news that they give up their pay for say a 1$. They're still getting 400k so they're not really giving up anything?
Panel: Thats right! Its a big lie.

So back to reality. Im pretty sure 200 + 400 = 600 and they'd actually be giving up 200k. I guess when you're a lynch mob you dont worry about facts. The rest of the 10 minutes was a tirade on how we need to clean up this pay structure and how its unfair and how they hope the government fixes this, etc. Not once, not one single time did they mention that this was for companies that received bailout money! They are talking ALL wall st. companies!

So sure, PaulS and Spence will tell me not to worry, Im a craxy conspiracy therorist and then I get back to the office and read this!
from an interview today with Barney Frank!

"And by the way, that's one of the things I've been working on for several years. It's to go after this whole financial incentive system that they have, whereby if you are working in one of these companies, and you take a risk, and it pays off, you get compensated. If you take a risk and it blows up in everybody's face, you don't lose anything. We have to put an end to this kind of one-way street, heads they win, tails they break even."


Think Im crazy now? Take this with Obamas tax increases, his assualt on the wealthy! the us government has NO right to dictate anyone's salary except for their own employees! This is the begginning of the end of this country. Two months of Obama, I dont think we can survive the rest of his term.

Have fun in Australia Jim :D:D:D:D





:buds:

the gov. only wants to lower YOUR salary Jimmy :bgi:

time to revolt

just wait and see

I don't have time to wait and see, not with people like Barney Frank as my congressman:rollem:
preparations have begun

and from the O man himself

"Just as outrageous is the culture that these bonuses are a symptom of, that has existed for far too long: excess greed, excess compensation, excess risk-taking," he said. "As we work towards getting ourselves out of recession, I hope that Wall Street and the marketplace don't think that we can return to business as usual. The business models that created a lot of paper wealth but not real wealth in the country and have now resulted in crisis can't be the model for economic growth going forward."

more from O

He said he and his economic team have begun discussions with leading congressional players to fast-track legislation creating another regulatory entity to govern the dissolution of large financial institutions such as AIG, which if merely liquidated could reverberate disastrously through the financial system.

Yeah, how'd that fast track work out for you last time?

but what about sign on bonuses for the military
paltry in comparison i know
but 20 grand to sign up
for a job where you can be killed in action doing it
so what? are they gonna do away with those too???
American taxpayers are paying for those bonuses also

i hear Netherland is Nice
they ship allot of apples here

so the yankees and red sox have tons of cash and can hire the best players and pay them enormous salaries. Is that really fair to all the other teams? Maybe O and the O-bots will clamp down on prefessional sports. those guys get huge salaries even though they sometimes dont perform.

I don't have time to wait and see, not with people like Barney Frank as my congressman:rollem:
preparations have begun

Squirreling away cash? That I understand.
Squirreling away canned goods and guns? :huh:

it's change alright... :bsod:

Squirreling away cash? That I understand.
Squirreling away canned goods and guns? :huh:

squirreling away Plugs so when all the eels are gone from everyone eating them for food, I will still have a way to catch bass to eat :tooth:

where is the best place to put cash? a bank?

:pats:

Backyard hole :D

Backyard hole :D


Backyard holes in my backyard.

oh, I thought it would soon be a fireplace