I just figured while the "gettin" is still good, to post a piece in this journal about the executive bonuses and outrage....just for memorabilia sake. Am I "mad" and "outraged" like the majority of folk's? .......Yep. "BUT" ... I have alway's looked at these type's of disappointment's as "What's done is done". And I am trying to also look at the whole picture as well.
Here's the bottom line ....okay? We got this mega institution that has much wealth caught up in it globally... that were trying to make a fortune ... and loaning money not to only folk's who couldnt afford it...but money that technically didnt even exist... as a bunch of bought up mortgages and such that turned sour as the so called "capital" asset's ...in a free for all type market setting that is relatively new to humanity...the system is old...but because of this "forced" globalization and the new technologies and lack of any oversight of even each other ... this was the biggest thing to American prospector's or investor's since the damn "California Gold Rush" or the "Texas Oil Boom" and ended up with too many "player's",and this is not singled out to AIG ... this whole clan sleep's and play's together, kind of like a family with "no value's".
So... since this was largely influenced and dominated by the big daddy's of investment banking ... and of coarse AIG got involved simply as another investor who banked on deal's that were bought and sold through these subprime lender's and such, well .... they just all got in a big mess...and started cryin for help. The government has the option of ...just letting them fail like anyone else, but the problem they seen was...these folk's got so much and so many tied into them, that every one connected would take a nose dive too... a domino effect you can say. And somebody from within this mess...need's to clean up the mess...and these bad asset's or toxic's that they call them. You cant just get outsider's to come in and do this job that's needed... it's just too big and too deep. So you have the existing team that screwed it all up to begin with...clean up the mess they made. You/we(taxpayer's and gvmt) decide it's gonna cost us a couple hundred billion+ to cover their asses.We know that those top crust employee's work on salaries and bonuses, we cant expect them to work for an hourly wage...they wont...their player's.If we let them walk...and bring in an outside crew...and they screw up...we lost the whole goddamn couple hundred billion we shelled out...so we keep them onboard...and give them their salaries/bonuses as usual...for their cooperation and service. And if it was $165 million or whatever in bonus pay...overall...that's just peanut's compared to how much we have vested in this crap.You know....it takes money to make money.
All the media now is "showcasing" their anger along with our flimsy political structure...mouthing off that their all mad as hell...the media for the rating's...the politician's to cover their asses because all this crap will be brought to light during the next election run.And none of the politician's know how this happened and blame it on the opposite of the two dictating parties. Yet they ALL know damn well why the "bonuses" were left in the deal...because of what I stated above.When the media exposes the cost of retaining the services in bonus money...the people start bitching...and of coarse...all the politician's put on their suit of armour and their "angry face" mask's. Half of these politician's are like trained dog's...just like on the same-sex marriage thing .. if the peoples said they approve of it... some of these politician's would go to parties for photo-shoot's in drag .. or talking about their love of it.Now they want to take back the money that they clearly and legally and knowingly gave.So these who got the money...well...want to keep their paycheck's is all.So they tell them like they tell us...to be patriotic and give back the money on their own...laying the classic "guilt trip" on them ... and of coarse if you dont,your a witch or a commi.
Now we have our heroes on the Hill...wanting to write legislation to tax up to 90% as a "payback". No...I wouldnt charge them a 90% or any outragious tax, it's nothing but the creation of another "evil" to give reason to tax anyone unfairly. I would have left bygones be bygones...tell them to do the goddamn job their paid for...then make "law's" so that this crap dont happen a second time is all.Besides...that $165 million "we" get back ... who will see it? Where will it go? hell...the same politician's probably will take it all as payment for all the sweating they did mouthing off to get it back...in overtime fee's of somekind for all we know! I mean someone's going to get it...and dont think for a minute...we are going to get check's in the mail.I wouldnt even have bailed out any of these folk's. Out of anger? No ...not out of anger at all...just based on a solid game rule ... you play a bad game...you loose...period.Would that cause a global financial ripple effect of disaster? ...Of coarse it would...but like any other disaster...we live with it and work through it and start over fresh.It wouldnt be the end of humanity for Petes sake.Hell... all were doing is patching up a worn out ship...that is going to need repair after repair just to stay afloat... we need to build a new ship.
We have this mentality in the 21st century humanity...that we can do everything with no pain...and make every street in America...Easy St. We still have a way's to go before we are that "evolved" and "civilised" ... but the longer we take to "change" the longer it will take to get to that point as well.
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