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Re: Bailout and Bonuses

I don't accept the premis of your question based on the simple fact that the US Government should NOT be bailing out businesses in the first place.

Some of us are old enough to remember the Saving's & Loan disaster in the 1980's, early '90s.  Apx. 1200 banks failed costing taxpayers $124billion over 11 years of clean up. ( http://www.fdic.gov/bank/analytical/banking/2000dec/brv13n2_2.pdf ) Those costs could come down some if congress hasn't spent the $7billion in assests it still holds of those old bones of an industry.

With is mess of "Taking Ownership" ...aka "Bail Out" of private businesses, banks, and other financial firms ... The US Government is projected to spend $9.0 TRILLION dollars ( http://www.nytimes.com/interactive/2009/02/04/business/20090205-bailout-totals-graphic.html )  Now that's in early 2009 dollars.  God knows how much more they've committed into bailing out private business when they NEVER should be there in the first place.

So, having Uncle Sam either direct companies into compliance or not .........is the same as a catholic priest telling an alter boy what to do after he's been violated and soiled.

The shit never should have happened in the first place.
This is CABL.com posting #289088. Tiny Link: cabl.co/mbnmS
Posted in reply to: Bailout and Bonuses by johnmc3
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