Good Post, I would just like to add that I think that the banks could save further money if they replace their talentless executives with more competative H1-B visa holding workers.
From each, according to their ability. To each, according to Obozo’s whim.
If businesses take government money, they are more subject to government sanctions - let the dog in the house so expect flees. I would like to see the income limiting policy apply to Congressmen and recent ex-Congressmen or appointees. Leon Panetta made $700,000 in 2008 alone in speaking engagements? Ridiculous!
Cramer, Mad Money, suggested that Goldman Sachs hinted of doing exactly this. It would have to pull some deals to raise the bucks. Then he suddenly shut up. Didn't want to go further. I suppose there would have been some dilution involved.
Anyone hear about this?
yitbos
Wunderbar!
Dream on. The govt. will want to "level the playing field" so their charges will not do poorly in the public's eye. So look for either increased taxes upon the non-bailees or reduced taxes on the bailed-out banks.
Good try though. Too bad you assume the govt will be hands-off from this point on.
They should follow the rules and go through bankruptcy. If they want tax dollars, they dont get exhorbitant salaries. Those are only for the private sector, not for government employees, which they now are.
The banks still want it both ways. Private profits and any pay and perks they dream up. All the losses and risks go Public.
Ill care about this when Obama tries to dictate salaries for executives that are not on the taxpayers dime.
Nice post. I heard Obama saying we should not reward poor performance by executives.
It begs the question - why don’t we apply the same standard to government executives?
Our government debt makes corporate losses look trivial so using his standard what should a congressman make?
“..there are *other* companies as well. Companies who haven’t taken a dime of government assistance”
Oh, that is coming! These other companies will get thiers too and the way things are moving it will be soon.
Everything being done here is to centralize the govt. We are being subjagated and beaten down to submission. I don’t care if these companies got bailout money, this wrong period!!
My God, all that is left to do is hang on tight and hope for the best.
Great post! I like your style, very much :)
You should blog methinks.