We should all be incensed by the behavior of Wall Street executives. They are giving capitalism a bad name.
I will be brief in this entry. As we are all following the TARP, Bailout, Stimulus Packages, etc., I am getting increasingly frustrated with the attitude of entitlement.We should all be incensed by the behavior of Wall Street executives. They are giving capitalism a bad name.
I realize many today in America and around the globe are innocent victims of the economic downturn. Thousands have lost jobs in wide waves of layoffs and they are struggling to survive and provide for their families. I feel for them and hope they can pick themselves up and find a good job soon.
However, I have no kind thoughts for those executives on Wall Street who continue to feel that they are “owed” bonuses as they have driven their companies into the ground. They are holding their hands out for tax dollars to “survive.” Then, they turn around and pay a bonus pool in the BILLIONS! That is a THOUSAND MILLION DOLLARS!
Here is an article that best sums up the situation and gives a very cogent argument combating the widely held beliefs that “it is just the way Wall Street works.” Might be up until today, but it should stop – NOW!
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1 comment:
Pete,
FYI, I am one of the guys that lost their job due to a take-over and duplicate operational redundancies.
No complaints, was able to help most of my guys to keep their jobs, anyway I degress....with all the news about stimulus packages, lower interest rates etc, I thought it an opportune time to refinance my mortgage and drop a percentage point or two.
RUDE AWAKENING..... 'Sorry, can't help you unless you have a job'.
So much for the banks using the money to help people in need, what about people who are worse of than myself, are out of work and having dificulty making their bills? It seems as if the banks have already written these poor guys off. The actuaries are running this show.
good luck to all
Jim F
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