Treasury approved pay raises at bailed-out companies

[J.K. Gregg]

[Indy]

@Precocity

Right. But I meant that it used to be a key industry here and nobody seemed to bat an eye when it went away.

Point being though (to your point): nobody cared about it going away because whether it moved to China or not, the only people who would suffer were... steelworkers.

Wall St. has us over a barrel because they've literally made the TBTF banks so big that nobody will dare let them go under and taken the economy down with them. It's the financial equivalent of walking into a CEO meeting on Wall St. wearing a bomb vest--if I go down, I'm taking the whole room with me! A hostage situation.

Which still continues to this day (you saw it with HSBC and the lack of action there, or the DOJ head interview on 60 Minutes).

Why would we knowingly allow ourselves to be held hostage like that, while at the same time adopting socialism for an industry--the same socialism that were it applied to citizens causes all sorts of howls of outrage?

[The Comrade]

[Professor]

[Indy]

Well that's an interesting scenario:

-So the money that we approved for them to award themselves bonuses for a job well-done (Yer doin' a great job, Brownie!)--driving their companies into bankruptcy via massive fraud--needs to go them or else it will just go to the lawyers (for whom?)

For all the people who got screwed--homeowners: screw them when it comes to gov't money.

How about taking that bonus money and using it to help the victims instead of the perpetrators?

[Professor]

[Professor]

[Indy]

Cmon now.

CEOs not culpable using the Ken Lay defense? Really?

"What could I have done? I was only running the company."

[exploited]

[PoS]

Its the legacy of Keynesianism for ya. This is what you want, this is what you get.