We screwed up. Pay us for it.
I have no problem with anyone earning gobs of money. I do have a problem with them scamming it-which is the usual method.
The successful finagle by FDMC and FNMA to be bailed out, is a scam on top of a scam. Their job is to exploit people who are over a barrel; that is from whence their profits come. Now that this financial rape has bit them in their collective ass, they are being reimbursed for more than the losses resulting from their own folly.
The bailout pool should start with the CEOs' bonuses. After all, those bonuses are, ostensibly, reward for steering the companies in profitable directions. If they truly brought profit to the company, then the bailout would not be necessary. The premise of the bailout is that the companies took a bath-which is non-profit. So, they failed, and do not deserve to keep those rewards.
Some will insist that a CEO's salary, bonuses, etc are the business of no one but the stockholders of the company. However, when the activities of the company undermine the national economy, and the nation is asked to take up the slack, it becomes the business of the nation. We, the people, become backers.
But, of course, they're not going to draft a bill to take their own spoils away. (And, make no mistake, it is the corporations involved-not congress-who designed the bill.)
They will most likely go on to reward themselves for this highly profitable move, with another round of bonuses.
The successful finagle by FDMC and FNMA to be bailed out, is a scam on top of a scam. Their job is to exploit people who are over a barrel; that is from whence their profits come. Now that this financial rape has bit them in their collective ass, they are being reimbursed for more than the losses resulting from their own folly.
The bailout pool should start with the CEOs' bonuses. After all, those bonuses are, ostensibly, reward for steering the companies in profitable directions. If they truly brought profit to the company, then the bailout would not be necessary. The premise of the bailout is that the companies took a bath-which is non-profit. So, they failed, and do not deserve to keep those rewards.
Some will insist that a CEO's salary, bonuses, etc are the business of no one but the stockholders of the company. However, when the activities of the company undermine the national economy, and the nation is asked to take up the slack, it becomes the business of the nation. We, the people, become backers.
But, of course, they're not going to draft a bill to take their own spoils away. (And, make no mistake, it is the corporations involved-not congress-who designed the bill.)
They will most likely go on to reward themselves for this highly profitable move, with another round of bonuses.