Here is what pisses me off about how some banks handled the handout..umm..bailout...
They spent millions of our tax dollars on bonuses for the executives that were at the helm when the banks got into trouble to begin with. Imagine doing your job so poorly that it brings your company and industry so close to the brink of bankruptcy that you need to beg the government for money to save it Yet, instead of getting fired (which would happen in just about any other job), you get millions in bonus money. That is a sweet gig if you can get it. On Mon, Jan 19, 2009 at 10:41 PM, Robert Munn <cfmuns...@gmail.com> wrote: > The banking bailout was necessary to prevent a systemic collapse. What > would > happen if you went to the ATM tomorrow to get cash and couldn't get cash? > What if no one could get cash? What if payroll services stopped issuing > paychecks because the three or four largest banks in the country were shut > down? There are so many unknowns, so many variables. I really think > Paulson, > et. al. felt that the risks to the global economy were so great that they > had no choice but to put the money in. I do not want to contemplate what > things would look like right now if the biggest banks had failed. > > As for strings on the money, I don't know. The government acted as an > investor, injecting capital in exchange for shares. Would a private > investor > normally have one or more seats on the board in exchange for the > investment? > Sure. But would you really want Congress to have seats on the boards of the > biggest banks in the country? As distasteful as it is to fork over hundreds > of billions without "guidance", I would rather have the money being managed > by bankers than Congressional staffers. > > On Mon, Jan 19, 2009 at 6:16 PM, Cameron C wrote: > > > Yeah - it would be nice if this level of scrutiny was assigned to the > > money loaned to banks. Really, it's just more proof that congress > > can't spend money wisely under virtually any circumstance and no > > matter which party is in control. > > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:285499 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
