PDA

View Full Version : Bailout Bail.



OverkillZJ
09-29-2008, 03:29 PM
What a crock of shit. Both parties need to pull their heads out of their asses right now.

Numbers are just falling.

Bill
09-29-2008, 04:08 PM
Agreed... There are so many levels to discuss this on I don't know where to start. The biggest thing that eats me up is financial institutions failing, but the uppidy ups in the companies taking home 6 and 6 digit BONUSES!

Boooooooooooooooshit!

OverkillZJ
09-29-2008, 04:11 PM
Yup... You have to wonder where along the lines "bonuses" became barely taxed, and no longer based on performance; this is one reason raising taxes on the rich doesn't work; it doesn't hit the REALLY super rich bastards that apparently can't even do their jobs!

Feels funny that there's a bill on the table that wants to pay those bonuses out of our pockets, literally. I realize the situation needs to be fixed, but there's got to be a better way.

Bill
09-29-2008, 04:13 PM
Agreed.

Bonuses should be based on performance. If the company fails, there should be no bonus. It doesnt get much more simple than that.

jeepxj3
09-29-2008, 04:52 PM
DOW Jones down 700pts today! YEAH!!!!!

BigDukeSix
09-29-2008, 05:02 PM
I love it when a CEO who makes megabucks fails, get a megabuck buyout. What's wrong with that picture ? Man, I should have applied myself more as a youth!!!

It's tough to get canned where I work, but if you " f " up they ain't afraid to take money out of your pocket and put you on the street for a while.

gonecheenin
09-29-2008, 05:44 PM
This situation makes me wanna throw up


I say let them reap the repercussions - either solution sounds like we're gonna get dumped on anyway, no reason to save them first.

cjw94xk
09-29-2008, 08:10 PM
778 points... That is largest loss the market has ever suffered (even though 1987 was a higher percentage). Who I really feel bad for are the people who have worked all there lives, set up a retirement fund and just like that, a lot of it dissipates... All because of greed. No one should have ever made mortgages available to everyone let alone 0% down... and the fact that the securities were fraudulently backed is another load of crap. All of this while the CEO's are making tens of millions in bonuses. Take it away from them. Let them live in a apartment and have to stand in line at the grocery store like the rest of us. Selfish, pompous greedy pricks...

Bird_Flu
09-30-2008, 12:46 AM
When the CEO of the company I work for has more in club fees paid for by the company than my annual salary, there is something seriously screwed up. Not to mention the $14.5 million house in Manhattan, the $16,000/yr for a personal car (when he doesn't even drive anywhere) and so on, and so on. When your salary is under $1 million but your total compensation package is north of $10 million again something is very, very wrong.

Ronin152
09-30-2008, 01:21 AM
Hell give them all the bonuses you can. My rate for carrying a bag at the country club just went up from $45 to $60.:040:

92YJCBG
09-30-2008, 01:41 AM
Hell give them all the bonuses you can. My rate for carrying a bag at the country club just went up from $45 to $60.:040:

:biggrin: how true you are.

Muzikman
09-30-2008, 02:30 AM
In many ways I am glad it did not pass. It was not the solution to the problem, it was just a feel good solution for stock holders. It also helps prevent out of control inflation. Let the banks fail. That is part of free enterprise. We'll hit a low, but as long as people don't panic, we'll get through it. Some may lose their house, but then again, it's most likely a house they can not afford any way. It has nothing to do with how much the CEO makes.

I just hope the dollar doesn't lose much more of it's value. That is when the real problems start.

OverkillZJ
09-30-2008, 09:33 AM
It has nothing to do with how much the CEO makes.



No, it doesn't, but it makes me feel better yelling about people with more money, I thought I'd see what it felt to be a democrat for a moment :unibrow:

This problem began long ago with deregulation of the banks, but I'm trying not to start another rant I don't have time for.

92YJCBG
09-30-2008, 11:57 AM
i give up on economics.

anodyne33
09-30-2008, 12:05 PM
It's okay. Shortly we'll be living in a much more socialist country and any debate on the subject of the economy will be moot.

/tin foil hat

SirFuego
09-30-2008, 01:14 PM
http://welkerswikinomics.com/blog/wp-content/uploads/2008/01/businesscycle_1.jpeg

Effjae
09-30-2008, 02:12 PM
Time to build a cabin deep in the mountains an go off the grid. I feel the worst for people who are about to retire on their 401k. If you are young enough, it should rebound, as the say. Otherwise, you are effed.

92YJCBG
10-01-2008, 01:17 AM
Time to build a cabin deep in the mountains an go off the grid. I feel the worst for people who are about to retire on their 401k. If you are young enough, it should rebound, as the say. Otherwise, you are effed.

naw, i want a house boat. When things get bad i float away.

BigDukeSix
10-01-2008, 06:17 AM
naw, i want a house boat. When things get bad i float away.


Careful Bear, it could sink like the economy.

Seismik
10-01-2008, 09:01 AM
naw, i want a house boat. When things get bad i float away.

AND you won't have to pay any property taxes!

Harley25
10-01-2008, 09:21 PM
And you can say that you don't owe income tax since if you put it in the Ohio River you you are connected to international waters and therefore are not a US resident...But good luck convincing the government of that.

OverkillZJ
10-01-2008, 09:37 PM
Don't give me ideas to argue with the IRS; I get in enough trouble as it is ;)

Jokes aside, is the river really considered international waters? I really know nothing of it, but I thoght only 50 miles or something off the coast or so was considered international waters, otherwise; pay your dues like the rest of us.

Harley25
10-01-2008, 09:54 PM
Don't give me ideas to argue with the IRS; I get in enough trouble as it is ;)

Jokes aside, is the river really considered international waters? I really know nothing of it, but I thoght only 50 miles or something off the coast or so was considered international waters, otherwise; pay your dues like the rest of us.

You would be surprised at the number of people living in house boats near the Pittsburgh area that try to pull the argument that the Ohio River is connected to the Mississippi which is connected to the Gulf of Mexico which is connected to the ocean and blah blah it makes the Ohio River international waters. None of these arguments have ever held up in court but people keep trying.

OverkillZJ
10-01-2008, 10:05 PM
Wow... I am, by some whacked out measure, related to some kinda royalty or whatnot... So can I avoid taxes too by floating my house? Please? ;)

cjw94xk
10-01-2008, 11:51 PM
It's a nice thought but figure out why Pa, OH, NY and Canada all own lake Erie and that still isn't considered international waters.

Anyhow... the bill goes through the Senate. Let's see what happens tomorrow....

r6cyclegal
10-03-2008, 12:38 PM
Following the problems in the sub-prime lending market in America and the run on Northern Rock in the UK, uncertainty has now hit Japan.

In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches.

Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived. While Samurai Bank fell on its sword, Ninja Bank is reported to have taken a hit, but they remain in the black.

Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.

jeepxj3
10-03-2008, 03:35 PM
http://money.cnn.com/2008/10/03/news/economy/house_friday_bailout/index.htm?postversion=2008100309


Bailout is law
President Bush signs historic $700 billion plan aimed at stemming credit crisis.

BigDukeSix
10-03-2008, 04:15 PM
Good thing Geisha Bank didnt take a hard blow.