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  1.    #1  
    NEW YORK, Sept 2 (Reuters) - Banking executives continued to make millions,
    even as their companies laid off employees and took billions of dollars in
    loans from taxpayers, according to a report by the Washington-based Institute
    for Policy Studies.

    http://www.reuters.com/article/rbssF...49470420090902
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  2. #2  
    There's some nice, fresh news for ya....

    Sorry, had to.
  3. #3  
    How long until we hear grandstanding about how this means we need more government involvement in the banks?

    Funny how that works. They fail (Community Reinvestment Act) and then try to fix the failures with more of the same (bailouts) and use the failed failures as justification to pursue more failure (any power they can grab).

    Here's an idea. No bailouts, no handouts, no political payback "stimulus", no "transfers" from one group to another, no takeovers; let the failures fail (big or small) and stop interfering with every sector of the economy and every aspect of our lives.
  4. #4  
    Hahaha, you kidding? Maybe you should go research how much the various financial institutes "donate" to campaign funds for these idiots.... Seems like alot of the biggest donators got the bailouts....

  5. groovy's Avatar
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    #5  
    Quote Originally Posted by jaguar717 View Post
    Here's an idea. No bailouts, no handouts, no political payback "stimulus", no "transfers" from one group to another, no takeovers; let the failures fail (big or small) and stop interfering with every sector of the economy and every aspect of our lives.
    I agree. And stop sending the message that some businesses are too big to fail because it also sends the message that other businesses are not big enough to succeed. This is 180 degrees from where we need to be.
    Last edited by groovy; 09/27/2009 at 01:18 AM.
  6. #6  
    banks, insurance, auto, hmmmm some of the leading big biz in the world... bail em out dont bail em out. Suppose they hadnt of bailed them out. would we be saying at this very time that govt dropped the ball,,, should have protected them, I would suggest that if all of them had crashed at the same time.. which is highly likely, that we would not be writing here, but likely standing in breadlines... a repeat of the 30s, which even i am to young to have experienced, but my father did, is not something that our little civilization would have liked. perhaps the lesser of two evils is what was chosen. Don't know for sure, but, think about it. WE do not have the info that others in decision making positions had. Even some of your/our more conservative leaders were strangely silent on the whole matter.
  7. #7  
    Quote Originally Posted by jaguar717 View Post
    How long until we hear grandstanding about how this means we need more government involvement in the banks?

    Funny how that works. They fail (Community Reinvestment Act) and then try to fix the failures with more of the same (bailouts) and use the failed failures as justification to pursue more failure (any power they can grab).

    Here's an idea. No bailouts, no handouts, no political payback "stimulus", no "transfers" from one group to another, no takeovers; let the failures fail (big or small) and stop interfering with every sector of the economy and every aspect of our lives.
    interfering with every aspect of your/our lives, does this include things like oh making sure the banks, auto industry, insurance companies, and every bloody other company or institution that supplies services to you/me do what they charge you for?
    You demand freedom, to do what you wish, when you wish, how you wish. I would suggest that if you were granted those freedoms, those freedoms would have to be granted to your neighbor, who may decide that he wants your back yard, because you have a pool or some such. There have to be rules in society, some, feel that there are not enough rules, some say there are way too many rules.

    If as you say, that govt is interfering in your life too much, think about what you want, then think about the lowest life in the world, who wants to do what they want.

    We have been part of history, we have seen what those that want everything are capable of.

    to those that say that keep the regulation out of the banking/investor/insurance companies, I would point to the gentleman who ran the largest ponzi scheme to date, billions of dollars ripped off, or the insurance companies who drop your coverage, just because they can. Or the companies that pollute your drinking water, do you remember the river that caught fire due to the pollutants in it? Or the people that died from cancer from the poisoned ground water? But according to you and many others, this is interference by govt. I would suggest before you even reply that this is different, that they are wanting exactly the same bloody thing that you want. No govt interference.

    I will make a bold statement here, America does not have democracy, it is at best strictly capitalist. What you vote, when you vote, where you vote, and who you vote for, are strictly to keep you relatively happy. Regardless to who is in power, its all about who pays who, that counts.

    That smacks of being far more feudal then any of you would want to contemplate. The kings, lords, barons, dukes, of yesteryear are alive and well, living in America.

    just my two cents worth..
  8.    #8  
    There's a definite problem with banks and executive pay. The most stable bank is the bank of China. You certainly aren't going to become a million running a bank in China.

    From Reuters.com » Blog Archive » Graphic: Banking compensation | Blogs |
    Last edited by palandri; 09/28/2009 at 08:42 AM.
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  9.    #9  
    Quote Originally Posted by 1thing2add View Post
    It's not only that global banks are incenting their execs with insane packages, but upon whose backs are these packages being created.

    Woman Boycotts Bank of America, Wins - ABC News
    From 12.99% to 30% unbelievable. Then again think of how many other people they have done that to. We don't need no stinking bank regulations. Let the dogs run wild.


    Last edited by palandri; 09/28/2009 at 08:42 AM.
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  10. #10  
    Quote Originally Posted by palandri View Post
    From 12.99% to 30% unbelievable. Then again think of how many other people they have done that to. We don't need no stinking bank regulations. Let the dogs run wild.


    Of course if you were a banker and not an electrician you'd be singing a different tune.
    “There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order.”
    — Ed Howdershelt
    "A government big enough to give you everything you want, is big enough to take away everything you have."- Thomas Jefferson
  11. groovy's Avatar
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    #11  
    Quote Originally Posted by palandri View Post
    From 12.99% to 30% unbelievable. Then again think of how many other people they have done that to. We don't need no stinking bank regulations. Let the dogs run wild.


    Two points about this. First, comparing the Chinese banks is a little like comparing apples and oranges (though, less so now since the Fed is getting increasingly involved in the industry). Chinese banks are state controlled so the heads of those banks are more akin to bureaucrats than bankers.

    Second, here's a little tidbit about Mr. Dimon that you may not know:

    Mr. Emanuel’s appearance would underscore the pull of Mr. Dimon, who amid the disgrace of his industry has emerged as President Obama’s favorite banker, and in turn, the envy of his Wall Street rivals. It also reflects a good return on what Mr. Dimon has labeled his company’s “seventh line of business” — government relations.
    ...
    Yet Mr. Dimon helped persuade Mr. Frank and Congress to ease the terms for banks, allowing JPMorgan to repay $25 billion in bailout money from the Troubled Asset Relief Program, known as TARP. He did so by complaining publicly and privately that JPMorgan only reluctantly took the money last year from the Bush administration to avoid stigmatizing more needy banks, and now was being hit with new limits — on hiring skilled foreigners, executive pay and more.
    ...
    Now that Mr. Obama is in the White House, Mr. Dimon has been prominent when the president wants to talk to big business.

    During one such meeting in late March, as Citigroup’s chairman, Richard D. Parsons, was trying to explain banks and lending, the president interrupted with a quip: “All right, I’ll talk to Jamie.”
  12. Micael's Avatar
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    #12  
    Quote Originally Posted by 1thing2add View Post
    So ... by this definition, one's personal income defines their values. Please tell me that the principle of Capitalism that this great country was singularly founded on has higher developed values than that!
    It's telling that the one thing you focused on in differentiating between a banker and an electrician is the level of personal income.
    The Law of Logical Argument: Anything is possible if you don't know what you are talking about.
  13. #13  
    Quote Originally Posted by 1thing2add View Post
    "Telling"? Really? How? When Woof barked up this tree to begin with.

    palandri's point:


    Woof's response:
    My point was in reference to Palandri's stance that anyone who makes a lot of money should be taxed excessively. As an electrician he doesnt make the $1mil cap that he imposed. If he was a banker making more than the $1mil in his idea, he would look at this very differently.

    It was not a value judgment at all, but way to assume lots.
    “There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order.”
    — Ed Howdershelt
    "A government big enough to give you everything you want, is big enough to take away everything you have."- Thomas Jefferson
  14. #14  
    Quote Originally Posted by 1thing2add View Post
    Besides basic mathematics, what does the difference in income mean to a banker making more than this imaginary $1M (VS an electrician's income)? Why would the banker be "singing a different tune"?
    Did you have stoopid cereal for breakfast today?

    If palandri were a banker making millions in salary and bonuses, rather then an electrician NOT making millions in salary and bonuses he would be singing a different tune.
    He would not be complaining about bankers making big salary and bonuses because he would be one. Instead he is the wealth envying union electrician who thinks no one should make more than a million a year, so he has a problem with the bankers salary and bonuses.
    Please tell me you dont need pictures.
    “There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order.”
    — Ed Howdershelt
    "A government big enough to give you everything you want, is big enough to take away everything you have."- Thomas Jefferson
  15. #15  
    bankers making huge salaries, and even larger bonuses, hmmm electrician making one hell of alot less.. banker makes huge mistakes,, looses billions of dollars,, tax payer bails em out.. electrician makes mistakes, looses money,,, goes directly to bankruptcy court, and then possibly to the street. hmmmm for all of michael moores claims about who makes what, no one has posted as to the tax dollar break down is.. if 99 percent of all the wealth is controlled by 1 percent of the population, are they the ones that pay 99 percent of the taxes.... hmmm lol comon i wanna hear or read this answer..
  16. Micael's Avatar
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    #16  
    Quote Originally Posted by xForsaken View Post
    bankers making huge salaries, and even larger bonuses, hmmm electrician making one hell of alot less.. banker makes huge mistakes,, looses billions of dollars,, tax payer bails em out.. electrician makes mistakes, looses money,,, goes directly to bankruptcy court, and then possibly to the street. hmmmm for all of michael moores claims about who makes what, no one has posted as to the tax dollar break down is.. if 99 percent of all the wealth is controlled by 1 percent of the population, are they the ones that pay 99 percent of the taxes.... hmmm lol comon i wanna hear or read this answer..
    Keep hmmm-ing... I'll get the banjo!
    The Law of Logical Argument: Anything is possible if you don't know what you are talking about.
  17. #17  
    Forsaken, could you put an extra 5 seconds into proofreading your posts? The broken English is downright painful.

    We're not the ones suggesting a failure be bailed out. That's a straw man--the command & control types declare a bailout "necessary", and then turn around and use it as an excuse to seize further power, dictate terms of pay, etc. That's a path to Old Europe stagnation where the gov't picks the "winners" and "losers" by favor.

    We're saying get out of all of it. Gov't has no more place dictating bank pay than it does engineer pay, doctor pay, or electrician pay. If you succeed, you're rewarded. If you fail, you suffer the consequences (whether it's getting fired for being a crappy electrician, or having the shareholders can you when your company stops profiting).

    As far as the wealth argument, the fundamental thing you and the control-types seem to miss is that wealth isn't some fixed, zero-sum figure. Wealth is CREATED, and that was the whole point of the "American experiment" of individual rights and restrained government.

    Income is what's taxed, not wealth. And since we don't apply a flat tax (where your tax burden would rise proportionately with your income), it means that your tax burden accelerates faster than your income rises. If you're a blueblood politician, rates don't really matter because you've already "got yours".

    But if you actually believe in the American dream of moving up in life, the confiscatory tax rates make that much more difficult. It's basically a move toward a caste system: if you're a trust-fund senator, you keep living comfortably, and don't have to worry about more unwashed masses moving up to where you are.

    As much class-warfare rhetoric as you hear from the big government types, it's not about the rich at all. It's an attack on anyone who hopes to BECOME rich (or upper middle class if they're middle class, or middle class if they're working class, etc).
  18. #18  
    Quote Originally Posted by Woof View Post
    Did you have stoopid cereal for breakfast today?

    If palandri were a banker making millions in salary and bonuses, rather then an electrician NOT making millions in salary and bonuses he would be singing a different tune.
    He would not be complaining about bankers making big salary and bonuses because he would be one. Instead he is the wealth envying union electrician who thinks no one should make more than a million a year, so he has a problem with the bankers salary and bonuses.
    Please tell me you dont need pictures.
    The problem is that the millions going to the banker are coming out of the pockets of the electrician and the rest of us from our stimulus money. That money went to the banks to open up credit and loans for us, to get the economy going again, not to maintain the bank ceo's slip fee at the yacht club...
  19. #19  
    Quote Originally Posted by Kenanator View Post
    The problem is that the millions going to the banker are coming out of the pockets of the electrician and the rest of us from our stimulus money. That money went to the banks to open up credit and loans for us, to get the economy going again, not to maintain the bank ceo's slip fee at the yacht club...
    Not what I am talking about at all, but thanks for your input.
    “There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order.”
    — Ed Howdershelt
    "A government big enough to give you everything you want, is big enough to take away everything you have."- Thomas Jefferson
  20. #20  
    Quote Originally Posted by Woof View Post
    Not what I am talking about at all, but thanks for your input.
    So, you're OK with the bankers getting bonuses made of you tax money? You're ok that the banks kept the money instead of putting it back into circulation? It is not trickling down is it?
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