Thanks to Democrats and his highness, Wall Street bonuses jump 25%

Discussion in 'Politics, Religion, Social Issues' started by Shivetya, Sep 17, 2010.

  1. Shivetya macrumors 65816

    Joined:
    Jan 16, 2008
    #1
    http://www.usatoday.com/money/industries/brokerage/2010-02-23-wallstreetbonuses_N.htm

    NEW YORK — In an era of populist outrage and nearly double-digit unemployment, the average Wall Street bonus jumped 25% in 2009 to $123,850 as financial firms rebounded from the worst financial crisis since the Great Depression with help from U.S. taxpayers' money.

    Wall Street firms paid out an estimated $20.3 billion in cash bonuses last year, a 17% jump over 2008, when bonuses were cut in half due to losses incurred during the financial meltdown, according to data released Tuesday by New York State Comptroller Thomas DiNapoli.


    President Wall Street continues helping those who stuff his campaign coffers with the big bucks, the friends of his cabinet members, the people really in charge of Washington.

    With these companies sitting on billions and not spending, with the banks sitting on trillions and not lending, at least we can rest easy knowing they take home some well earned bonus money.


    Main Street got rolled.
     
  2. Queso macrumors G4

    Joined:
    Mar 4, 2006
    #2
    How exactly would this be different if McCain had got elected? Wall St. has the entire US political hierarchy in its pocket in exactly the same way the City of London has UK politicians.

    Main St. has indeed got rolled, but if this is to be changed you have to look quite a bit further than Obama.
     
  3. leekohler macrumors G5

    leekohler

    Joined:
    Dec 22, 2004
    Location:
    Chicago, Illinois
    #3
    Excuse me but, IIRC, Bush was responsible for bailing out banks with no restrictions on how the money was used. My how short our memories are. Are you relaxing your brain again? ;)

    And the only people who think Obama is some sort of holy man is you guys.
     
  4. bruinsrme macrumors 601

    bruinsrme

    Joined:
    Oct 26, 2008
    #4
    You know something, this crap democrat and republicans are doing this or that has got to stop. Both parties are at fault. One is not worse than the other, they both suck. WE have to send the word to our state capitals and to Washington that we will no longer stand for their greedy ways.
    Taxpayers have to send the word. Those sponges in Washington want us to fight red vs blue. The worst thing this scum sucking bums want to see is the taxpayers rallying together to take back this country.
     
  5. diamond.g macrumors 603

    diamond.g

    Joined:
    Mar 20, 2007
    Location:
    Virginia
    #5
    I had always thought we were kinda blackmailed into bailing them out. Remember all the talks about how if they didn't have credit/cash they couldn't pay their workers?

    Maybe it was just me...
     
  6. rdowns macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #6

    Yes, it was Bush who enacted this. Let's not forget that Obama continued it and built his financial team around Wall Streeters, the very dicks who got us into this mess.
     
  7. OutThere macrumors 603

    OutThere

    Joined:
    Dec 19, 2002
    Location:
    NYC
    #7
    QFT.

    Europe has successfully limited the bonuses its banks can pay to 30%, with the remaining 70% payed out later and or tied to the overall performance of their bank—to reduce risk taking. I'm sure if we were to try to do the same in America, we'd hear about how the government was interfering in the free market. :rolleyes:

    All things considered I don't think any of us would want to be living in an America today in which the banks hadn't been bailed out. I think circumstances would be quite dire.
     
  8. jb1280 macrumors 6502a

    Joined:
    Jan 13, 2009
    #8
    wait, I thought the President was the most anti-Business, anti-Capitalist Head of State the United States ever had?
     
  9. leekohler macrumors G5

    leekohler

    Joined:
    Dec 22, 2004
    Location:
    Chicago, Illinois
    #9
    Good luck with that when all the one side can think of is denying civil rights to all citizens and demonizing them to get votes.

    Only when it's convenient for conservatives to say so.
     
  10. Rt&Dzine macrumors 6502a

    Rt&Dzine

    Joined:
    Oct 8, 2008
    #10
    This should finally make the Tea Partiers happy!
     
  11. MyDesktopBroke macrumors 6502

    Joined:
    Jun 2, 2007
    #11
    Um, it was Republican obstructionism that watered down financial reform? It was Bush that signed the Wall St. bailout with no way to track the money?
     
  12. hulugu macrumors 68000

    hulugu

    Joined:
    Aug 13, 2003
    Location:
    the faraway towns
    #12
    So, according to the article Obama has saved the economy. The banks are 'rebounding' and it's only a matter of time before those bonuses and low taxes trickle down through the economy.

    Right?
     
  13. Shivetya thread starter macrumors 65816

    Joined:
    Jan 16, 2008
    #13
    He is only anti to those who don't fuel his campaign coffers. If you haven't noticed, the money being spent from the Federal Government has to be groups who pay it back, either in votes or money to campaign.

    Small business as you have noticed has gotten scraps, mere budget rounding errors in amounts. Real workers have gotten the shaft why Wall Street big wigs who donate copious amounts of money got the big bucks.

    Political power and Wall Street are entwined too deeply, both parties feed them and both feed off of them.
     
  14. leekohler macrumors G5

    leekohler

    Joined:
    Dec 22, 2004
    Location:
    Chicago, Illinois
    #14
    OK, next time say that it's thanks to both, and not just one party. ;)
     
  15. skunk macrumors G4

    skunk

    Joined:
    Jun 29, 2002
    Location:
    Republic of Ukistan
    #15
    If bonuses were cut in half, then rose by 17%, by my reckoning they are still 41.5% down.
     
  16. freeny macrumors 68020

    freeny

    Joined:
    Sep 27, 2005
    Location:
    Location: Location:
    #16
    Yes.
    But it's much more interesting spun in the way the OP and the article did.
     
  17. hulugu macrumors 68000

    hulugu

    Joined:
    Aug 13, 2003
    Location:
    the faraway towns
    #17
    Nice catch.
     
  18. macfan881 macrumors 68020

    Joined:
    Feb 22, 2006
    #18
    [​IMG]
    The reason they are doubling in bonuses is cause of the bail out and we can thank it all for the last Genius that was in the white house.
     
  19. CaoCao macrumors 6502a

    Joined:
    Jul 27, 2010
    #19
    checkmate!
    epic image
     

Share This Page