Obama did not criticize bonuses but the bonus/performance ratio.
I heard what he said. He blanket criticized execs taking bonuses. Is that fair?
NYSE brokers/dealers accumulated losses of $35 billion in 2008.
If the stock market falls, yet an exec at a WS firm has done a good job, then why shouldn't the exec get a bonus? Political incorrectness?
Applying the logic of bonus/performance to unions, they've been overpaid for 40 years. Obama doesn't say anything about that, but instead makes statements urging unions to continue increasing their bonus/performance ratio.
Furthermore the criticism is targeted at companies receiving TARP funds, i.e. taxpayers' money.
Nothing to do with how a WS/investment banker firm has been run. Capitalist corporations serve demand. They don't serve what's stylish, proper, and politically correct after the fact.
Example: $4 billion bonuses for MERry executives who managed to terminate the independent existence of their company.
If one can be judged guilty, all are guilty, including those not involved, for these latter should have known that RE inflation is a fool's brew, but didn't because they were so busy fulfilling the insatiable demands of stylish, proper, and politically correct American RE investors. Thus, you are guilty, so Obama will have you pay.
Acquiring company BAC was TARP-supported with $45 billion (so far).
TARP supports the inevitable outcome of insatiable demands of stylish, proper, and politically correct American RE investors, only. Doesn't do a thing for the bank as a profit seeking corporation. |
