Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
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Re: Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
#2OP here. Given the current story re HSBC's misbehaviour, I thought it worth reminding everyone of the scale of the theft that took place during the bank bailout.
Re: Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
#3This is also some good reading material: https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program
Re: Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
#4>“When the banks did well, their employees were paid well. When the banks did poorly, their employees were paid well,” Cuomo’s office said in the 22-page report. “When the banks did very poorly, they were bailed out by taxpayers and their employees were still paid well. Bonuses and overall compensation did not vary significantly as profits diminished.”
Waaat. I think the government should stop bailing out businesses. Either you let the company go bankrupt or you nationalize.
Also I clearly need a job in banking...
Re: Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
#5an industry driven by greed is greedy... why am i not surprised.
that stuff needs some regulating. its all well and good making everyone richer and deregulating to encourage it, but if the gap widens, because of how the economy works, the poor get poorer in real terms :(
also we have big explosive crashes...
Re: Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
#6>“When the banks did well, their employees were paid well. When the banks did poorly, their employees were paid well,” Cuomo’s office said in the 22-page report. “When the banks did very poorly, they were bailed out by taxpayers and their employees were still paid well. Bonuses and overall compensation did not vary significantly as profits diminished.” Waaat. I think the government should stop bailing out businesses.…
> Either you let the company go bankrupt or you nationalize.
I vaguely agree with that sentiment, but the problem in practice is that government sucks at running things. They introduce layers of infrastructure that business doesn't and turn things into political footballs.
Although thinking about that for a moment, its a big problem on its own...
Re: Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
#7OP here. Given the current story re HSBC's misbehaviour, I thought it worth reminding everyone of the scale of the theft that took place during the bank bailout.
This, HSBC lending money to rouge nations and drug cartels, the LIBOR scandal, and not a single person is in jail.
Not to mention that the Fed made available and lent up to $7T to banks (without telling Congress) right before TARP was rushed through.
Smoke some weed, go to jail.
Do it three times, go to jail for life in CA. MANDATORY. Especially if you're black.
If these and other ongoing similar "crimes" don't convince you that we're living in an oligarchy, and our precious democracy/republic is a farce at best, well, I don't know what will.
Re: Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
#8>“When the banks did well, their employees were paid well. When the banks did poorly, their employees were paid well,” Cuomo’s office said in the 22-page report. “When the banks did very poorly, they were bailed out by taxpayers and their employees were still paid well. Bonuses and overall compensation did not vary significantly as profits diminished.” Waaat. I think the government should stop bailing out businesses.…
> Either you let the company go bankrupt or you nationalize. I vaguely agree with that sentiment, but the problem in practice is that government sucks at running things. They introduce layers of infrastructure that business doesn't and turn things into political footballs. Although thinking about that for a moment, its a big problem on its own...
> government sucks at running things
Because a company that needs to be bailed out was doing a great job...
Re: Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
#9>“When the banks did well, their employees were paid well. When the banks did poorly, their employees were paid well,” Cuomo’s office said in the 22-page report. “When the banks did very poorly, they were bailed out by taxpayers and their employees were still paid well. Bonuses and overall compensation did not vary significantly as profits diminished.” Waaat. I think the government should stop bailing out businesses.…
> Either you let the company go bankrupt or you nationalize. I vaguely agree with that sentiment, but the problem in practice is that government sucks at running things. They introduce layers of infrastructure that business doesn't and turn things into political footballs. Although thinking about that for a moment, its a big problem on its own...
I don't see why governments can't nationalise industries such as oil extraction. Seems like a lot simpler of a business model than banking and very lucrative as well.
Re: Banks Paid $32.6B in Bonuses Amid U.S. Bailout (2009)
#10>“When the banks did well, their employees were paid well. When the banks did poorly, their employees were paid well,” Cuomo’s office said in the 22-page report. “When the banks did very poorly, they were bailed out by taxpayers and their employees were still paid well. Bonuses and overall compensation did not vary significantly as profits diminished.” Waaat. I think the government should stop bailing out businesses.…
> Either you let the company go bankrupt or you nationalize. I vaguely agree with that sentiment, but the problem in practice is that government sucks at running things. They introduce layers of infrastructure that business doesn't and turn things into political footballs. Although thinking about that for a moment, its a big problem on its own...
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