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  • Sportivny: 
  • Comment (1)
  smart man, in every other industry there are reprecussions, except banking it seems

  Oct 20 02:34 PM | Link | Reply
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  • frosty: 
  • Comments (125)
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  Goldman, so far this year, has set aside $16.7 BILLION for bonuses. The average annual wage in America is about $45,000 per year. Do the math - Goldman's bonuses could pay over 370,000 average annual salaries. And they don't invent new phones, discover new drugs, lift a hammer, dig a hole, put out a fire, arrest crooks (themselves especially), or teach kids how to read and write. They just siphon money from taxpayers and investors who have no knowledge of what they're doing. The whole wall street machine just begs the conscience of what's fair and reasonable. Where is Teddy Roosevelt when we need him? He took care of the oil, rail, and steel barons a century ago. Will Obama have the guts to do it to Wall Street today?

  Oct 20 03:01 PM | Link | Reply
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  • realitybiter: 
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  If Warren Buffet really believed his own statement he would have never let his own money prop up Goldman. There has to be something more important than making money. Making money doesn't have to come along with dishonor. What we have allowed our Congress and our Senate to do is incredibly dishonorable. We can all agree that there was fantastic damage done to the system. Is it criminal? I'd bet half my money on it straight up. AIG writing insurance policies (CDS) without the capital has to be criminal.
  
  What we need are penalties so stiff (like losing the last 10 years of salary and bonus plus a year of time for every billion in financial damage) that folks actually behave in a way that is respectful. Goldman operates as if they are "honest", but come on. It ain't right. God may give us justice, but I'd like more than a pound of flesh now.

  Oct 20 03:35 PM | Link | Reply
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  • realitybiter: 
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  •  • StockTalk (1)
  That is the point. We were robbed by our own Congress, transferred the money to Goldman and others, bonuses, and we got the fid. I have long stated that it would have been more equitable to simply write a check for 100 large to every American household. But no. We had to right the overleveraged SS derivative ship. A cargo full financial BS that was now obviously stale. Would my life be worse without Goldman or JPM or BAC? I hardly think so. I just wrote a check for $50k to square up what I owed on a house I just sold. It sure would be nice if all my taxpayer friends had bailed me out.
  
  Save the system? It is like reinflating a deflated, cold corpse.
  
  
  On Oct 20 03:01 PM frosty wrote:
  
  > Goldman, so far this year, has set aside $16.7 BILLION for bonuses.
  > The average annual wage in America is about $45,000 per year. Do
  > the math - Goldman's bonuses could pay over 370,000 average annual
  > salaries. And they don't invent new phones, discover new drugs,
  > lift a hammer, dig a hole, put out a fire, arrest crooks (themselves
  > especially), or teach kids how to read and write. They just siphon
  > money from taxpayers and investors who have no knowledge of what
  > they're doing. The whole wall street machine just begs the conscience
  > of what's fair and reasonable. Where is Teddy Roosevelt when we
  > need him? He took care of the oil, rail, and steel barons a century
  > ago. Will Obama have the guts to do it to Wall Street today?

  Oct 20 03:47 PM | Link | Reply