Forum
« Room & Board Armchair $450 Pro electrician for- major job »
June 22, 2009
record bonuses from goldman
http://www.reuters.com/article/newsOne/idUSTRE55L29M20090622
Comments
Your tax dollars at work!
Posted by: northsloperenter at June 22, 2009 12:44 PM
Didn't GS return their bail out money?
Posted by: 11217 at June 22, 2009 12:52 PM
GS made huge profits from AIG.
So, your tax money went to AIG, who gave it to GS, who used some of it to pay back the bail out money and kept the rest.
AIG won't ever pay back that money.
Posted by: northsloperenter at June 22, 2009 12:58 PM
http://market-ticker.denninger.net/archives/1144-How-To-Rob-The-Treasury-For-Bonuses.html
Posted by: northsloperenter at June 22, 2009 12:59 PM
In my opinion, good for them. I think this will be the first example of the stimulus package backfiring. The gov't doles out cash hoping to get regulation in return, but the banks are smart enough to recover their loses, pay the loans back, and then go about business as usual.
I'm happy to see this, I think Goldman should tell Barack and whoever else complains "you said if we paid it back we can do what we want, well guess what suckers, we paid it back, now go screw"
An overall stable/good company might need a short term loan to correct it's balance sheet. A bad/unstable company needs to fold or be taken over by the gov't. Goldman and GM show this to be true.
The stimulus package/bailout/TARP/whatever you want to call it was/is the biggest waste of time and money ever.
Posted by: christopher at June 22, 2009 2:21 PM
More power to them.
GS actually denied that this meeting took place.
Long live capitalism and the American dream.....
Posted by: daveinbedstuy at June 22, 2009 2:27 PM
"Long live crony capitalism and the American dream..."
Fixed your post.
Posted by: northsloperenter at June 22, 2009 2:47 PM
As far as I remeber GS has proper risk management system and avoided all of the mortgage related meltdown. And was collateralized against AIG counterpart.
I think taxpayers instead should look at AIG, which commingled various insurance businesses, ignored the systemic risk of financial products and doubtfully will return 160B they took from us.
Posted by: bobjohn at June 22, 2009 10:11 PM
President Obama should now tax anyone that gets bonuses from Wall Street at a tax rate of 90%, and to think alot of these bonus takers bought homes in New York City and are complaining about the higher property taxes and the price of thei homes going down! Losers!
Posted by: hannible at June 22, 2009 10:32 PM
Tax bonuses at 90%? That is the most asinine idea ever. If that were to ever pass, what's to stop Obama from taxing your income 90%?
How about fewer taxes for everyone, and a bonus structure for all. Teacher? Minimum wage but $10k bonus for every child that passes. With a class of 20 that's be one helluva bonus. Hell, no more small class sizes, lets put 40 kids in a class, pay the teacher $10 an hour, but a $10k bonus for every child that passes the state test. Bet you wouldn't want to tax that bonus 90% would you?
Posted by: christopher at June 22, 2009 10:56 PM
How will you pay teachers 6 figure bonuses?
You'll have to seriously raise taxes to do that.
In fact, you'd probably have to start taxing bonuses at 90%!!!
Posted by: northsloperenter at June 23, 2009 10:17 AM
Obviously Christopher is a Teacher...
I think we should just print tons of money and give everyone $250,000 a year. Every single person - Imagine how great this country will be when everyone is making insane cash!
Posted by: newsouthsloper at June 23, 2009 12:35 PM
We are already printing money like crazy. Judgement day will arrive soon, as soon as the Fed starts raising interest rates. Then we will see all the free loading loafers that bought homes trying to flip them for a profit run for the woods.
Posted by: hannible at June 23, 2009 8:40 PM
Post a comment
Please be patient while your comment is published. It may take a moment.