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About this $750 Billion dollar Bailout.........?
Not to play stupid BUT ---- Let's see, Someone or a combination of a bunch of someones makes our world economy go kaputz, then our dear little Wall Street "fakes a Depression like Crash", our dear ol' gov. decides to TAX the American people to bail their @sses out, BUT then we have a bunch of partiers on WALL STREET puffing on their cigars and whooping it up, totally unconcerned about anybody's losses but they sure are having a gay ol' time. Then along comes this new request that certain CEO's are begging for $625,000.00 minimum walkout severance amounts when they get THEIR walking papers, THEN we discover that somehow some way we now have an economy with NO MONEY HARDLY ANYWHERE! SO! Where did all this money or evidence of money and dividends go, folks? Did it all just poof away or should we be looking at those game players on Wall Street who could just as easily have siphoned all this money (made by the good American People) into some off-shore accounts or better yet just some far away Swiss Bank Accounts? Come on, I know if I'm wondering about this, surely someone else with possibly a bigger financial brain than myself is wondering just what the he// happened to all that money earned over so many years?
Here's a couple of interesting links to look at: Take a gander at these why don't ya!
This is the search link, take a look at the 2nd one down and tell me then that the Terrorists are not behind all this!
4 Answers
- Anonymous1 decade agoFavorite Answer
You are in part correct. The Wall Street CEOs walked away with hundreds of millions while running the economy into the ground. The 2006 bonuses just for Citigroup executives were Prince 26 million, Rubin 17.3 million, Drusking 15.7 million, Kracheck 9.9 million, Volk 9.8 million. That was their bonuses, not their salary. Their strategy was to maximize their bonuses while running the companies into the ground and to hell with everything else. It worked extremely well from them. Not so well for everyone else.
I imagine that most are these days sipping mint julips at their mansions on some Carribean Insland somewhere laughing their asses off.
- 1 decade ago
Well a lot people have been losing money since the beginning of the year on their stocks but I believe they were hoping they could ride it out. The government issued stimulus checks to help out the economy but it only held off problems for a while. The 3rd quarter came along an you have this rise of companies going bankrupt, running out of cash, or having to much debt. People start to freak out an acted very irrationally, When the first bailout package was proposed an didn't get approved the DOW dropped 700 points, yet on Friday when the 2nd attempt was approved the DOW still fell I think 200 or 100 points. The DOW didn't drop that many points on Monday because of the first failed bailout package. A lot of investor were afraid an started to act irrationally, because they have been losing money all year. Investors acting very irrational has played a big part in the stock market decline, not to mention bad earnings report from many companies, beginning of a recession, an lot of the government involvement.
- ThorLv 71 decade ago
If they use the money to buy assets that have value now or in the future it won't cost the taxpayer anything. They could even make a profit.
What they did to our financial system is shameful but we need the system to survive and lend to make the economy work. So keeping the banks alive is necessary.
I do blame the Republicans. Their "free market self regulation" was bogus. Their deregulation, elimination of Glass-Steagal that allowed the creation of a "shadow banking system" caused the problem. Glass-Steagal was created during the last depression and eliminating it almost gave us another one.
That entire "shadow banking system" with brokerages and insurance companies acting like banks has totally collapsed. It is now gone. All the major ones have failed or been bought out.
It was a terrible Republican deregulated free market experiment that has failed and damaged us horribly.
- 1 decade ago
Rich people make the rules so they can stay rich. You would do it too if you were in that position. GREED.
