Posted by: dinainsuburbia | January 30, 2009

wallstreet bonuses.

Does this piss anyone else off?  Here we are in the middle of a financial shit storm, using our tax money to bail out these banks left and right…. and bankers get $18.4 billion in bonuses? 

I don’t get it!  Every other industry is, mostly BECAUSE of the banks, cutting back on workers, halting 401k contributions, and freezing salaries (not to mention, not even GIVING bonuses) and yet, the one industry that is getting the MOST government help is still handing them out.  I also believe I heard 2008 was the 6th biggest bonus year in history! 

It infuriates me that when the big three automakers were looking for their hand out, they had to jump through hoops and write a business plan.  Don’t get me wrong- I totally believe this was the right thing to do.  The CEOs were criticized for their choices and many agreed to not take a salary (a la Steve Jobs… I also agree with this).  Lets not forget, though, that the MAJORITY of individuals working in the auto industry are middle class; just your average Joe (Joe Six Pack?  Ha!). 

Compare this to monies received by the banks.  I daresay there are way more high earners working for big banking than big auto.  No?  What hoops did they have to jump through?  What transparency? 

Why is that?  Why does congress (not just Republicans kids… Democrats too) value banking over auto?  Now, one can say that the downfall of any big bank would send “shockwaves through the economy”.. yadda yadda.  But beyond that… are we all, as a society, “classist”?  Do we think the bankers “know better” because they are all uber educated, while the auto makers have to “prove their worth?”  After all, that guy on the GM line… did he even graduate high school?

It really pisses me off- even IF some bankers made money for their respective firms… too bad!!! I don’t think ANYONE should’ve gotten bonuses this year.. because, lets call a spade a spade, the American public is PAYING for them!!!!

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Responses

  1. Make them pay it back! Write to your senator here: http://returnthebonus.com/


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