Thursday, April 30, 2009

Is There Something Wrong with This Picture?

Here is a graphic from the NY Times showing that despite the fact that the "titans of Wall Street" drove the US economy into a ditch, destroyed 40% of stockholder wealth, and have put the US taxpayer on the hook for trillions... they are being "rewarded" for this accomplishment...

click to enlarge

I count only two Wall Street financial houses that show any diminishment of "reward" for results. I expected the bonuses to be cut and salaries to be slashed. But, no, it looks like blue skies and clear sailing for these workers.

I guess the Wall Street bosses are giving their workers a great big "thumbs up" for such a remarkably good performance: they sure knocked the socks off everybody... as well, they pulled the money out of their pants... stripped them and left them in the gutter... and pretty well flattened the average American.

I guess by Wall Street standards those "accomplishments" deserves a raise!!!

I still have a hard time choking down the screams of pain when Congress talked about taking back bonuses. Wall Street shouted out its pain: contracts are sacred!

I guess they are sacred on Wall Street, but they sure aren't sacred in Detroit. All those poor autoworkers have been forced to walk the plank. Their contracts have been run through a paper shredder. Where are all those voices crying "but contracts are sacred"? All I hear is silence. Makes you wonder about "equal under the law". I guess the really rich are equal but with an edge, i.e. their laws are written in invisible ink at the back of the book. It isn't that they are above the law. Nope. They get to write the laws and hire the fancy suits to interpret the law to uncover those wonderful "special cases" written in invisible ink at the back of the law books. So for them, sure enough, contracts are sacred.

No comments: