Sounds like someone didn't get enough love as a child. Don't take it out on this message board. Go confront the person that has made you so angry. The world will be a much brighter place for you, I promise. Just think of a great big rainbow!
This is correct. Banks should perform this simple utility function and the pay of its top people should reflect it.
I continue to be amazed at how people lap up this White House spin. Clearly the Politico article was spoon-fed to them from Rahn Emauel or some other White House tool. Probably written for them as well. The picture of the masterful Obama, whose previous financial experience consisted of balancing his checkbook and running errands for Tony Rezko, commanding respect from the financial leadership of the country is at best a stretch. Fear, yes, but the kind of fear people would feel when they see a small child waving a loaded gun around and demanding candy. They see a president dangerously over his head, backed by a weak and thin economic team, who takes his orders from ACORN. The fact that he is demanding banks that don't need or want the TARP money keep it is chilling. It's the leash he will use to keep them in line, and they know it. Normally, I wouldn't mind seeing a bunch of dickheads like Ken lewis get roughed up, and I agree with Obama that their compensation practices are a national disgrace, really nothing more than thievery from the shareholders. The problem is concentrating the nation's financial decisionmaking in the Oval Office, particularly this Oval Office, occupied by a former ACORN drone.
I have to agree. I grew up in Greenwich. some of the people I know well are good friends with the "best and brightest". The top hedge fund guys etc.... I am pretty sure a girl I dated is married to one who recently lost billions. My friends cousin is as big as you can get. My brother is friends with all sorts of kids from Greenwich high school who were making millions at hedge funds. At my high school reunion a third of the guys I spoke with had wall street jobs. Most of them running shit. The best and the brightest were average intelligence grateful dead loving drug addicts in high school. Not that I have any problems with dead heads. I went to a couple of shows... but please acting like wall street is filled with the best and the brightest is a fricken joke. Wall street is filled with bodies. The ones who rise have a knack for kissing ass or ripping off their grandmother more than once. Its no wonder they institutionalized the idea of selling premium (mortgages) and collecting bonuses until they blew up and left the american tax payer out of trillions. It was the largest scam ever. And it was the Victor Neidehoffer hedge fund model on a worldwide scale. Sell mortgages claim billions in profits and mark to market until you blow up the world economy. They guys are cold hearted plunderers. The better they were at screwing large groups out of big money the higher they rose up the food chain. They have no right to claim they are the best and the brightest. The are the greediest. Note to all who deal with wall street... you are dealing with the greediest salesman in the world. They are all about sales... they sell products which destroy your future but look good for a few years. Now they are stealing trillions of our tax dollars. let the best and brighest be free to form smaller more profitable companies. let the salesman of destruction lose their jobs with their bloated banks.
I left out the important part. Obama acts like he is controlling a group of the best and the brighest. He is getting played by the top purveyors of shit in the world. He thinks mortgaging the future of the american tax payer is good for america. he thinks geithner and bernanke are advocating for the good of the country. Obama is getting played out of trillions by the banks and porked out of trillions by pelosi and reid. His demands are being ignored by Europe as they smile. so far the only bigger pawn than obama are the american tax payers. the only other conclusion is Obama is knows his place and he is just a placeholder for the bankers. I sure as hell hope he wakes up soon. Yeah the bankers are trying to return their tarp assets and Mr. Smarty pants is refusing to accept the money. does anyone believe that crap? As 10% of the countries jumbo loans are not performing Ken Lewis is being believed. If 10% of jumbos in the country are not performing. What percentage do you think of that number is CA? And what percentage of those loans are owned by Countrywide and Bank of America? Now take a step back. Who do you think is next in line. I would be bet Chase and Citi. Now I realize they might just be servicing some of these loans. But everytime I speak with Chase on behalf of a client they say it is a portfolio loan. Bank of America frequently claims they own the loan as well. My firm was told Chase gets 1200 new short sale files a day. A negotiator for one the lenders was told by her bank that they expected increasing defaults through 2012. Yeah they want to give back the money. Sure.
Wasnt there a saying that goes: Once people on Wallstreet understood they were idiots who didnt know what they were doing it was to late they had already became billionaires!
you right wingers sure do show your stripes. sour grapes turned into racism. the reason he doesnt want the banks to return the tarp money yet is because we dont know how bad this recession gets and if they return the money now and need it again later the political will would not be there to get it done again.
Funny, this tough talk directed at Wall Street while his administration is entirely derived from Wall Street. If there is ever an administration that Wall Street assembled Obama's is it.