All return, no risk. Time for a class action lawsuit.

The Marketplace Morning report had a segment about the bail out of Bear Sterns and the cost to the common people in this country. 30 billion isn’t exactly pocket change.

In the report he said that from 2002 to 2007 Wall Street firms paid bonuses of 137 billion to these “investment wizards” who managed to crash a bank that made it through the Great Depression. Here is the link to the report

New York State Comptroller
The Securities Industry in New York City, October 2007 pdf

I say it’s time for restitution. Time to go yank the golden parachutes off their backs, auction off the Bentleys and the Breitlings. It’s time to collect back rent from posers who’ve been playing monopoly with other peoples real money.

I don’t care if Elliot Spitzer was paying a hooker, let’s put him on the case as his payment back to society. Throwing him in prison won’t accomplish anything.

The whole country is now going to suffer the costs of paying these fools an average of $339,910 a year while the rest of the city was only making $59,530.

In 2006 the bonuses hit a record of $23.9 billion. Almost enough to pay for Bear Sterns.

Something has to change. It’s unlikely that our congress, who depend on the support of these crooks to finance their high dollar campaigns, will do anything.

They’d rather investigate steroids in baseball, or approve torture.

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2 Responses

  1. Greg Hunter March 20, 2008 / 3:32 pm
    You have to love Fascist America –

    1) Hiliary (NY) allows her campaign to play the Race Card – No Response Rush Limbaugh, Hannity, Savage all Right Wing cretins are helping Hiliary and the Clinton Ego to destroy the Dem party.
    2) Eliot Spitzer (NY) An excellent candidate for Barack VP gets taken down by provisions of the Patriot Act. He would have eaten Wall Street Alive
    3) NY produces nothing but grifters. We should pull our money and invest in the Community before Wall Street pisses it away.
    4) A life with less stuff does not make an empty life.

  2. Juan March 21, 2008 / 6:59 am
    Greg – I think in “Point #2” you’re refering to the regulation that requires banks to report cash transactions of greater than $10k to the IRS. If so, that is NOT part of the Patriot Act. That’s been around for close to 20 years and was originally enacted to identify money laundering and drug activities.

    Point #4 – You are 100% correct! Is that your own quote or did you steal it from someone? ;)

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