TWU's side of the rejection!

[The Goose]

Completely agree. I still don't comprehend why the taxpayers are gonna buy up all the junk mortgages these thieves wrote.



I'm curious about the numbers in that article. $750 billion divided by $297,000 would only fund 2.5 million people. If "the citizens" refer to all the adults in the USA, it would require more like $594 trillion (Approx 200 million adults x $297k = $594 trillion). It would take years to print that much money.

If only 2.5 million get the $297k, who decides which families hit the jackpot?

That was one I just repeated - should have taken a calc to it.

Still pretty good though regardless of the amount - only the thieves don't benefit (that would be unAmerican, wouldn't it?)

 

[Bob Owens]

If only 2.5 million get the $297k, who decides which families hit the jackpot?

Who do you think?

 

[FrequentFlierCA]

I was specifically referring to the executive pay issue. When companies need a bailout from the government or seek bankruptcy protection, which, in either case, is bankrolled by the taxpayer, then the greedy executives need to be reigned in.
Since a CEO's first and foremost priority is shareholder value, then he or she needs to bear brunt of this.. Part of what we are seeing now is corporate greed and excess to maximize shareholder value coming home to roost.

I know pro company, pro management folks like yourself subscribe to the "greed is good" mantra, but tell me now, how is it good?

I know many of you think of me as "pro-company" but I agree with your sentiment, Hopeful. When public money is involved, that normally means the execs have failed. Not the case with the post 9/11 airline bailout, but definitely the case with the current round of publicly-funded bailouts. In that case we get the worst possible combination of capitalism and socialism: capitalism for the massive boom-years gains, socialization for the even-more-massive bust-years losses. As a shareholder, I'm pissed that the SOBs at the top of Fannie, Freddie, Bear, WaMu, AIG, etc. reaped enormous payouts for short-term thinking. I don't care so much that the guys made a lot of money, but in the future it needs to be tied to medium and long-term performance of their company. Translation: no more cash payouts, and only equity options that have long vesting periods.

To sum up: greed is good, but only if you are made to suffer the consequences if you over-reach.