Wall Street Bonuses

Last night in my frustration I twittered the following:

I’m so tired of the Republican tax cut mentality. It’s so old boys club. What about funding for bold new business? Advancement & innovation?

The Republicans don’t want to support the Stimulus Bill. What a surprise! But what do they really think they know about stimulating the economy? I am not an economist, but it seems to me that FDR and the New Deal was about investing money into new ideas and infrastructure, not tax cuts.

And look how their stimulus plan did! I woke up this morning to read What Red Ink? Wall Street Paid Hefty Bonuses:

Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial companies in New York, the now-diminished world capital of capital, collected an estimated $18.4 billion in bonuses for the year.That was the sixth-largest haul on record

Oh really? Huh…

“The issue of transparency is a significant one, and there needs to be an accounting about whether there was any taxpayer money used to pay bonuses or to pay for corporate jets or dividends or anything else,” Mr. DiNapoli [N.Y. state comptroller] said in an interview.

Isn’t that interesting?

Many corporate governance experts, investors and lawmakers question why financial companies that have accepted taxpayer money paid any bonuses at all.

Yeah, me too.

“We are all flying in the dark,” Mr. Brill [attorney and expert on executive compensation] said. “Companies can simply say they are trying to do their best to comply with compensation limits without providing any of the details that the public is entitled to.”

Huh. I wonder how that happened? Perhaps it was due to a crappy stimulus plan?

The Republicans need to get it together and realize that their lollygagging and bullshit is doing nothing to endear them to the American public. I am truly getting tired of this crap. Don’t forget, there will be a reckoning in 2 years for many of these seats. To use a familiar slang term, don’t play yourselves. Get it together G.O.P!!! (or the word “Grand” in Grand Ole Party might find itself replaced with Gone! I’m just saying…)

P.S. Can I just comment on how much I love Obama? Every time I read about his family or his new and relaxed White House, I grin.

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~ by Reveye on January 29, 2009.

One Response to “Wall Street Bonuses”

  1. […] was one of the first people to complain about bonuses paid on Wall Street. However, I should have been more thorough in my critique. How easy it is to confuse the American […]

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