Wednesday, January 27, 2010
Excuse me? What did he say?
OK, so I'm sitting here listening to the State of the Union. Please help me understand this if I am misunderstanding it. Large banks that were "bailed out" AND have paid it all back now have to pay a "fee", beyond traditional taxes, to the government because they are successful enough to pay for bonuses for their executives!? That is freaking ridiculous. I don't like the big bonuses but this sets a horrible precedent. The government should not be able to just take money from any business whenever they feel it is justified because of popular demand. If there is now all of this guilt from the government over the bonuses then they should have acknowledged that the bail out was only going to reestablish the status quot. - JW
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On it's surface I'm not huge on it either, but I would want to know more information about it before passing judgment. I'm not sure what banks still owe money or what banks will have to pay the fee.
ReplyDeleteI will say that if a bank was in a position where the government was forced to rescue it (and remember it was Bush who initially put through the bank bailout) and then the bank is able to turn things around thanks to the governments assistance then I could see where the government would charge a fee after the fact...but that type of fee should have been part of the initial agreement, not something that is added on at the end when the government is hard up for cash.
Just finished reading the full text of his speech...curious what you guys' overall thoughts are.
ReplyDeleteLove you!
I figured it best for me not to watch...so I didn't have to replace the TV.... I've read excerpts, but, not the whole speech. Wasn't terribly impressed from what I've read.
ReplyDeleteSpecific to the bank "fees", if there was going to be a charge or fee or... yes, it should have been addressed in the beginning, whether it was Bush or Obama.
I do fear we're getting closer to de-incentivizing (is that a word?) hard work & success as we've known it in the past, tho...
I wanted to yell "you lie!!" like 109790869087 times during the speech. I am fairly certain my blood pressure tripled. What was with him calling out the justices like that and then chastising the all the congress. All the crap about "transparency" and "bipartisanship" when HE held closed door, Democrat only sessions throughout the health care debacle!
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