...I knew what Congress was doing yesterday by bringing the Wall Street executives in and scolding them in public was a dog and pony show. But I had not realized how profoundly full of shit these politicians are.
They make a big display of yelling at the CEOs and then the very next day they quietly remove any cap on their compensation. These people are not on our side. This is why so many Americans are so damn frustrated. Everyone in power appears to be bought and paid for. There is a circle of people in DC and NY that keep passing the money around to one another and then come and collect it from us.
I want to know -- no, I demand to know -- who killed this provision? Who argued for taking this cap on executive pay out of the stimulus bill?
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We're wasting our time here. Just nationalize the damn banks already. Almost all of the top economists are now in agreement that we should take this step. The people who put the money in are the people who own the company -- that's how capitalism works. I'm a die-hard capitalist. I don't want the federal government owning banks for an extended period of time. But what's worse is to continue letting these bankers rob us of our money day in and day out while we sit around like fools.
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My favorite joke is when people say if we don't continue to pay these clowns millions of dollars they will take their talent elsewhere. I literally laughed out loud after writing that. Please, have at it hoss. Take your talent wherever the fuck you would like.
Is it possible that the Obama administration is behind this move? Absolutely. First, Tim Geithner is a complete Wall Street guy. He believes in protecting the Wall Street bubble. That's why they were ecstatic when he was selected. And Obama himself is a guy who is instinct is almost always to be conciliatory. If Wall Street says this is necessary, he's going to want to reach out and appease them to get things moving. But not this time. This is a conciliatory move we cannot abide.
I voted for Obama, but I did not loan out my intellect to him. I can still make up my own mind on whether he is right or wrong. And if he is participating in this, he is 100% wrong.
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Let's repeat the most important message there three times:
There is a circle of people in DC and NY that keep passing the money around to one another and then come and collect it from us.
There is a circle of people in DC and NY that keep passing the money around to one another and then come and collect it from us.
There is a circle of people in DC and NY that keep passing the money around to one another and then come and collect it from us.
My advice to that circle of assholes?
