Posted on 10/19/2009 7:28:19 AM PDT by blam
Wall St. Is Winning: Elizabeth Warren "Speechless" About Record Bonuses
Posted Oct 16, 2009 10:58am EDT
by Aaron Task in Newsmakers, Banking
Elizabeth Warren, chair of the Congressional Oversight Panel, is the rare public official who doesn't mince words.
But Warren admits to being "speechless" at reports of record bonuses on Wall Street.
"I do not understand how financial institutions could think they could take taxpayer money and turn around and act like it's business as usual," Warren says. "I don't understand how they can't see that the world has changed in a fundamental way - it's not business as usual. All I can say right now is they seem to be winning this argument."
In the accompanying video, taped at The Economist's Buttonwood Gathering at Pace University, I asked Warren about Treasury Secretary's claim at the same event that the government has been "remarkably effective" in combating the financial crisis.
[snip]
(Excerpt) Read more at finance.yahoo.com ...
If you want money to go to rich and influential people, give the money to rich and influential corporations.
Duh.
“If you want money to go to rich and influential people, give the money to rich and influential corporations.”
There is no doubt in my mind that the intention was to give the money to the rich and influential. But, feigning outrage and indignation will help with the voters.
Where is this profic coming from?
Is this the commission of Federal bond sales?
Should read ‘profit’ I am sputtering with irritation.
The center of the US economy is slowly dying while these greedy ‘women of the night’ are at the trough.
In another few years (or months) we will all be millionaires, and the dollar won’t be able to buy the paper it’s printed on.
Any government worker should NOT have the right to “set” limits to compensation or salary in ANY industry.
Besides, the government is hardly the ideal example of “taking care of business” with record printing of dollars and depression causing deficits now and for the foreseeable future.
Maybe it has something to do with the fact that it was an offer they couldn't refuse. The government made it clear to all these institutions that they would take the money, whether they wanted to or not.
Now, after cramming taxpayer money down their throats, you're going to act indignant that these institutions have the gall to run their own businesses?
There's some staggering gall here allright. But it isn't coming from financial institutions.
“There is no doubt in my mind that the intention was to give the money to the rich and influential. But, feigning outrage and indignation will help with the voters.”
....I expect you’re right...Lefties like Warren are perpetually annoyed about big bucks paid to top people in the private sector....the TARP/public money, angle just makes their indignation more righteous....but you can’t give a fox the key to the hen house....he’s a fox; stealing chickens is what he does....and don’t tell me you’re outraged when the fox chows down.
....at heart, a lot of academics feel they are brilliant so why should athletes,entertainers and CEOs make staggering sums....when they, the intellegensia, get small potatoes by comaprison...I know...I’ve been married to a professor for 21 years and have heard it all at faculty parties.
Of course they do: contract law is not negated by taxpayers' money.
Politicians fight the very basis of our society, and most people of our country cheer them on -- as long as that is supposedly directed against "evil corporations."
More socialist propaganda on this supposedly conservative forum.
Go check who owns corporations in this country before you spew this nonsense.
“...Any government worker should NOT have the right to
“set” limits to compensation or salary in ANY industry...”
-
And I extend your statement further to say that they should
not be able to determine minimum OR maximum wages.
When the general public came to fully accept that it was OK
for the government to determine a minimum wage,
it was just one small step further for them to accept that it was OK
for the government to determine a maximum wage.
Some warned against the establishment of a minimum wage
for that very reason but they were largely ignored.
-
“A government big enough to give you everything you want
is a government big enough to take from you everything you have.” -President Gerald Ford in an address to a joint session of Congress (12 August 1974)
Odd, but the Democrats think nothing of confiscating taxpayer money and act like it's business as usual. Looks like financial institutions are acting just like the Democrats.
Another member of the Marsixst proletariate fighting the "evil rich."
Since I'm not a socialist, I wish that taxpayer money stayed in our own pocket.
They use this "vision" to appeal to the better nature of unsuspecting citizens as a means to acquire political office and power for themselves.
The "vision" collides with reality when the consequences of such "taking" results in what is then deemed to be undesireable.
Many examples exist. In this case, it happens to be with large financial institutions, but this lack of factoring in human nature when policies are put in place also can be found in so-called "poverty programs," in "incentives" for locating industries, and on and on.
America's Founders understood human nature and wrote a "People's" Constitution to protect the liberty of citizens from those to whom they delegated very limited powers to tax and spend. They understood that imperfect persons in positions of power in government likely would make no better decisions than would likewise imperfect individuals in the society. They also understood that elected officials, because of their human tendency to abuse power, might lead the nation away from liberty, resulting in debt, oppression, and tyranny.
That "fight" of which you speak is but an illusion. Government and Wall Street are in cahoots, but they put on their little "dog and pony show" to convince the sheeple that it isn't.
Obviously it hasn't. The narcissism of these people is breathtaking; they get their guy in the White House and they believe the constraints of reality are gone forever.
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