Bankers getting bonuses

[jackace]

http://video.aol.com/video-det...bonus-binge/1005104055

I just don't get how most of these banks can justify paying out bonuses when the government had to step in and keep them from going bankrupt. These bankers and people on wall street seem to be living in an entirely different reality compared with the rest of us in this country. Their compensation is completely out of control, and even when their get rich quick schemes almost bring down our entire economy, they are still taking HUGE bonuses.

 

[JJChicken]

Originally posted by: jackace
http://video.aol.com/video-det...bonus-binge/1005104055

I just don't get how most of these banks can justify paying out bonuses when the government had to step in and keep them from going bankrupt. These bankers and people on wall street seem to be living in an entirely different reality compared with the rest of us in this country. Their compensation is completely out of control, and even when their get rich quick schemes almost bring down our entire economy, they are still taking HUGE bonuses.

Its a free market economy mentality - bankers get large bonuses because they would be poached by other firms otherwise. Obviously, free markets isn't working right now..

 

[jackace]

Originally posted by: Barack Obama

Originally posted by: jackace
http://video.aol.com/video-det...bonus-binge/1005104055

I just don't get how most of these banks can justify paying out bonuses when the government had to step in and keep them from going bankrupt. These bankers and people on wall street seem to be living in an entirely different reality compared with the rest of us in this country. Their compensation is completely out of control, and even when their get rich quick schemes almost bring down our entire economy, they are still taking HUGE bonuses.

Its a free market economy mentality - bankers get large bonuses because they would be poached by other firms otherwise. Obviously, free markets isn't working right now..

As an outsider looking in, based on them still getting huge bonuses even after almost completely destroying our entire economy, I would say their system has almost nothing to do with the free market and appears to be as corrupt if not more so than our federal government and the current form of lobbying.

 

[Skyclad1uhm1]

If you didn't see that coming you probably voted for Bush. Twice.

 

[dmcowen674]

Originally posted by: Skyclad1uhm1
If you didn't see that coming you probably voted for Bush. Twice.

:laugh: and at same time

 

[chess9]

But but but...we saved billions on welfare reform! Erm, or did we?

-Robert

 

[walkur]

Here in the Netherlands the goverment forbids companies who use goverment bailout money to hand out bonusses.

 

[JJChicken]

Originally posted by: jackace

Originally posted by: Barack Obama

Originally posted by: jackace
http://video.aol.com/video-det...bonus-binge/1005104055

I just don't get how most of these banks can justify paying out bonuses when the government had to step in and keep them from going bankrupt. These bankers and people on wall street seem to be living in an entirely different reality compared with the rest of us in this country. Their compensation is completely out of control, and even when their get rich quick schemes almost bring down our entire economy, they are still taking HUGE bonuses.

Its a free market economy mentality - bankers get large bonuses because they would be poached by other firms otherwise. Obviously, free markets isn't working right now..

As an outsider looking in, based on them still getting huge bonuses even after almost completely destroying our entire economy, I would say their system has almost nothing to do with the free market and appears to be as corrupt if not more so than our federal government and the current form of lobbying.

What riles me even more is the lavish parties AIG is having with the taxpayer's moneys. I would literally punch their CEO in the face if I saw him. NO sense of decency whatsoever.

 

[boomerang]

Greater civilizations than ours have fallen. You've got a ringside seat for this one.

 

[Skyclad1uhm1]

Originally posted by: walkur
Here in the Netherlands the goverment forbids companies who use goverment bailout money to hand out bonusses.

Not to mention that they replaced the top people from several banks they acquired.

 

[BoomerD]

Originally posted by: dmcowen674

Originally posted by: Skyclad1uhm1
If you didn't see that coming you probably voted for Bush. Twice.

:laugh: and at same time

No surprise here IMO. The whole bailout scheme was just corporate welfare on a grand scale, the likes of which has never been seen before.

Georgie, you're doin a HECKUVA job!

 

[halik]

Bankers' bonuses are based on the amount of fees they earn from deals, so if there were deals and the bank made money, they get a bonus (nowhere near as good as the past couple years),