The coming financial crisis

[Butchers Bill]

You season ticket holders; what would you give up in your personal life to hang on to your tickets?

I'd kill you to keep my tickets.  Does that count?

[Seabiscuit36]

You season ticket holders; what would you give up in your personal life to hang on to your tickets?

I'd kill you to keep my tickets.  Does that count?

You season ticket holders; what would you give up in your personal life to hang on to your tickets?

I'd kill you to keep my tickets.  Does that count?

I'd Pay Joel to kill Stillupfront

[Phanatic]

I know folks like to say Obama's done nothing but he has managed a 2 year campaign to win his parties nomination and then the presidency. That's all you need to be president in this country. It's supposed to be a pretty grueling process but if it doesn't prepare someone for the job we might want to change the requirements.

[Diomedes]

nm

[Diomedes]

Motherfarger I'm tired of these bastiches stealing the wealth of our nation.

http://www.nytimes.com/2009/01/29/business/29bonus.html?hp

What Red Ink? Wall Street Paid Hefty Bonuses
By BEN WHITE

By almost any measure, 2008 was a complete disaster for Wall Street — except, that is, when the bonuses arrived.

Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business,employees at financial companies in New York, the now-diminished world capital of capital, collected an estimated $18.4 billion in bonuses for the year.

That was the sixth-largest haul on record, according to a report released Wednesday by the New York State comptroller.

While the payouts paled next to the riches of recent years, Wall Street workers still took home about as much as they did in 2004, when the Dow Jones industrial average was flying above 10,000, on its way to a record high.

Some bankers took home millions last year even as their employers lost billions.

The comptroller's estimate, a closely watched guidepost of the annual December-January bonus season, is based largely on personal income tax collections. It excludes stock option awards that could push the figures even higher.

The state comptroller, Thomas P. DiNapoli, said it was unclear if banks had used taxpayer money for the bonuses, a possibility that strikes corporate governance experts, and indeed many ordinary Americans, as outrageous. He urged the Obama administration to examine the issue closely.

"But we need to pay our best people or they won't work," this gang of thieves complains when reasonable people question the practice of paying mulit million dollar bonuses to the extremely well paid and already mega rich players.

Bullshtein.

First of all, your best people failed miserably.  They should be getting nothing and be grateful they aren't in prison.  Secondly, there is no dearth of extremely well qualified intelligent and talented people who are available and willing to fill jobs that pay dozens and hundreds more than the average American makes in a lifetime.

farg you all.

[Seabiscuit36]

Im not getting a bonus Dio, i told em no thanks

[shorebird]

Motherfarger I'm tired of these bastiches stealing the wealth of our nation.


farg you all.

You got that right.

[Butchers Bill]

"But we need to pay our best people or they won't work," this gang of thieves complains when reasonable people question the practice of paying mulit million dollar bonuses to the extremely well paid and already mega rich players.

Bullshtein.

First of all, your best people failed miserably.  They should be getting nothing and be grateful they aren't in prison.  Secondly, there is no dearth of extremely well qualified intelligent and talented people who are available and willing to fill jobs that pay dozens and hundreds more than the average American makes in a lifetime.

That's the kicker.  I've met with some very senior people at a variety of firms, and while some are truly "brilliant" some are just there because they know someone, or their daddy knew someone.  I have also met middle managers that know more about the business and have better ideas than the senior people, that will never break that glass ceiling because they didn't go to Harvard and aren't a member of "the club".

I say bring back the 95% top tax bracket.  Anyone who makes more than 25 million a year in comp (not salary...total comp), gets to keep a nickel for every dollar earned over 25 million.

[stalker]

Hopefully the Senate will vote down the sham of a "stimulus package". The president can by executive order suspend capital gains and dividend taxes. That would stimulate reinvestment in the economy and get business rolling. Additionally, an across the board income tax rate decrease would put more money in the working man's pocket and increase spending of disposable income. FDR proved that public works projects and entitlements do NOTHING to get the economy moving. The present "stimulus package" is nothing more than the furtherance of the Nanny state mentality that says ordinary citizens have no idea how to handle their own money. Bush's asinine stimulus bill of last spring did nothing. The ill founded bank bailout of this past fall did nothing. Throwing money at a problem does not solve it.

[rjs246]

Uh, Republicans in the Senate are actually planing on ADDING a price tag to the bill. The idea of a government spending less is not an option any more, suckers.

[stalker]

RJS, that is why I refuse to any longer consider myself a Republican. I am a conservative. A real conservative. Not one of those fundementalist idiot, censoring, self righteous conservatives but more along the lines of the Libertarians.

[rjs246]

That's all well and good but when push comes to shove you still vote Republican, right?

Why?

If both sides are spending like there's no tomorrow, and one side is oppressing individual liberties, doesn't it make sense to vote for the party that isn't actively oppressing liberties?

This is what I don't get about voters right now. Are people so married to the Republican party that they'll vote for them in the face of all evidence? Clearly, the answer is yes.

[rjs246]

More to the point... will someone please outline the Republican Party's platform right now? Any conservative belief that they haven't defiled? I understand what being 'conservative' means but I really don't understand how the current Republican party even begins to represent what conservatives stand for...

[stalker]

I think that swings both ways. Suppression of liberties also includes the redistribution of wealth and confiscatory tax rates. And quite frankly, these issues most directly affect me. And also, I feel there are still some good republicans. I like Huckabee even though he is a fundamentalist his good points out weigh the bad. Same with Ron Paul, on balance he is someone I can support against the shtein that is out there. As it turns out, I made a mistake in the primary and really should have looked more closely at Romney.

More to the point... will someone please outline the Republican Party's platform right now? Any conservative belief that they haven't defiled? I understand what being 'conservative' means but I really don't understand how the current Republican party even begins to represent what conservatives stand for...

You know my platform. It has been published for over 200 years. It's called the Constitution and Bill of Rights.

[ATV]

Then: That's the way it goes. Deal with it. Smirk. These things are going to happen. They're businessmen, so it's their business.

Now: An actual adult...

http://www.youtube.com/watch?v=FMI-pKpc8fU&eurl=http://www.michaelmoore.com/&feature=player_embedded