Hands up. Who hasn't seen THIS coming?
posted by dsk on November 12th, 2008 at 10:15PM
posted by dsk on November 12th, 2008 at 10:15PM
http://www.rollingstone.c...the_new_trough/3
"And the folks at Morgan Stanley? They're planning to pay themselves $10.7 billion this year, much of it in bonuses — almost exactly the amount they are receiving in the first phase of the bailout."
It looks like the $700 billion bailout (which now most likely exceeds $1 trillion) did nothing but inspire a feeding frenzy. Everyone wants to loot as much of this goldmine of 'free' money as they can.
"And the folks at Morgan Stanley? They're planning to pay themselves $10.7 billion this year, much of it in bonuses — almost exactly the amount they are receiving in the first phase of the bailout."
It looks like the $700 billion bailout (which now most likely exceeds $1 trillion) did nothing but inspire a feeding frenzy. Everyone wants to loot as much of this goldmine of 'free' money as they can.
Poll: Hands up. Who hasn't seen THIS coming?
I Did (1/2) 50%
I Didnt (1/2) 50%
(The title of your last reply gets polled.)
|
I didnt
posted by pasofol on November 14th, 2008 at 1:43AM like the bailouts from the start.
Giving money to companies who couldn't manage their funds in the first place is pointless. It's like giving money to a druggy and expecting that money not to be spent on drugs. It's money that won't be used in the right way.
|
|
I did
posted by dennisn on November 13th, 2008 at 12:45AM I totally saw this coming. I even posted about this prediction on the old site, along the lines of "what would you do if you were given $700B with no oversight?". (my preferred option was hiring scouts to scour the world for the hottest women, then buy an island for myself and them and boat loads of drugs, and bribe the country's dictator for protection.). I actually just read another article today about some fat Donkey bureaucrat chastising the CEO of (the now government bailed out) AIG for wasting a few hundred grand on luxurious parties. And you just know what the next step is going to be--after all this media fluff about wasteful spending of *taxpayer* dollars, they'll easily be able to pass draconian regulations on the industry, effectively nationalizing it for good. Although, really, with the Federal Reserve, the industry already has been tied to the balls for quite some time, so nothing will really change. The state always has, and apparently always will retain control over it's subjects. I don't see any revolutionary freedom fighters anywhere on the horizon. I think people are tired of the rhetoric of revolution, since it always manages to eventually settle down into the same old status quo. The USA were once revolutionary when they fought to free themselves from the yoke of the British--and guess what prompted them to pick up arms? Taxation (primarily). (The defining point of no return was the Boston Tea Party). And now, just a few generations later, where are the USA today? They have become the new Britain.
|
