Sunday, February 21, 2010

Wall Street's Bailout Hustle

And, of course....

Wall Street's Bailout Hustle : Rolling Stone

The nation's six largest banks — all committed to this balls-out, I drink your milkshake! strategy of flagrantly gorging themselves as America goes hungry — set aside a whopping $140 billion for executive compensation last year, a sum only slightly less than the $164 billion they paid themselves in the pre-crash year of 2007.

11 comments:

Kevin Scheunemann said...

Mark,

No kidding! This is disgusting!

Why is Obama bailing these guys out?

Let them fail!

We can't even count on (alleged) liberal Democrats anymore to stop corporate welfare!!!!!

I'm completely disgusted by Obama bailing any of these companies out.
You railed on concentration of wealth...here's the reason...liberal Democrats!

Mpeterson said...

I love the idea that the Democratic Party is now the Party of Big Business.

Whew. Finally.

Hey, where's my Cadillac??

Patrick Allen said...

If memory serves,it was Bush who signed the $700 billion dollar bailed out for the banks.

Patrick Allen said...

Oh, and Feingold voted against the bailout.

Kevin Scheunemann said...

Does this mean you are joining the tea party?

or the so-called "progressives"?

We can always come back to our shared vitriol against coporate bailouts!

Anonymous said...

Kevin,
Who began the bailouts?

Kevin Scheunemann said...

George Bush.

And I will denounce that as ridiculous as well!

My beef is: liberal Democrats, used to pride themselves on being against corporate welfare.

What's happened to Obama?

At least with some Republicans, you can reasonably expect support of blatent corporate welfare.

It doesn't mean I support it, but Obama needs a "truth in labeling" adjustment on corporate welfare.

PaulyW said...

Hello....tomorrows headline?

"Feingold attends Tea Party to talk about his vote against bailouts"....in my dreams.

These banks need to fail. They are increasing interest rates on credit cards and yet still taking home tons of bonuses. Something is wrong.

It was Congress that drafted the bailout and asked Bush to sign, not the other way around. Put the bailout blame where it belongs

Patrick Allen said...

Yup, Feingold sounded just like a teabagger when he said, “I will oppose the Wall Street bailout plan because though well intentioned, and certainly much improved over the administration’s original proposal, it remains deeply flawed. It fails to offset the cost of the plan, leaving taxpayers to bear the burden of serious lapses of judgment by private financial institutions, their regulators, and the enablers in Washington who paved the way for this catastrophe by removing the safeguards that had protected consumers and the economy since the great depression. The bailout legislation also fails to reform the flawed regulatory structure that permitted this crisis to arise in the first place. And it doesn’t do enough to address the root cause of the credit market collapse, namely the housing crisis. Taxpayers deserve a plan that puts their concerns ahead of those who got us into this mess.”

PaulyW said...

If Russ Feingold gave such great thought into this why is he so short sighted on the great Milw to Madison Train waste of money? His hypocracy overshadows his brilliance at times.

Mpeterson said...

We do have shared vitriol for bailouts... I don't imagine that any governmental agency ever helped bail out Dairy Queen, eh? :^)