I was reading about the bail outs in the NY Times today.¬† It said “The Obama administration plans to require banks and corporations that have received two rounds of federal bailouts to submit any major executive pay changes for approval by a new federal official who will monitor compensation,”
It also said that the “executive pay has been a delicate issue for the Obama administration and Congress, particularly since it was revealed that A.I.G., the recipient of at least $180 billion in taxpayer money, was handing out $165 million in bonuses. The episode left officials struggling with just how to balance public anger with compensation rules that would not put the industry at a competitive disadvantage”
Public anger? More like Public Bludgeon. lol
A competitive disadvantage? Hey official representatives, just whose side are you on? Aren’t we haveing this whole conversation because we know that the bankers are scammers? Isn’t that the very hope for change that Obama rode in to the white house on? What are we all acting surprised about here?
“The banking industry had been lobbying the Obama administration to exclude traders and other highflying salespeople from the top 25, fearing it would lose top talent to competitors not constrained by the rules of a taxpayer bailout.”
I would like to ask you, the people reading this right now. How much ($$$) is banking talent worth to you? Have you thought about that in terms of it being a service you’re willing to pay for?
I mean to say, do you think that some little banking starlet deserves a 165 million dollar bonus over let’s say, some talented artist? Really. Would you rather give one hundred dollars to the hippy on the street juggling balls with his pet travel companion, or give some “talented” banker an almost unaccountable amount of YOUR money that¬† YOU worked for just because he was smart enough to figure out how to scam you?? Come ON?? Even if you don’t LIKE the hippy! I think we know what the answer really is.
I don’t want to go on here about how evil the banks are. The point is that we are freegans here, and we’re talking about dropping out of that economy, right? What can we do about those banks? First of all… don’t do any business with them!
My bank, Bank of America, increased my monthly fee arbitrarily and then fined me when I unknowingly over drafted! They are making billions off of these scams.
There comes a time, people, when you have to realize that the nuts and bolts of daily living are infused with a deep political reality. Who you do business with greatly effects the course of world history, and lives across the world right now.
So please all reading this post, switch to a nice community based credit union!¬† For starters.
And here is a link that I googled to help find a credit union in your area. I have no idea if it’s anything good! lol. I just googled it! Please, if you use it, comment back to this post and tell us if it was good or bad!