The Federal Reserve is now apparently trying to create more regulations for our bankers. Ever since the big bank bailout to save the banking industry and help our housing market the public has gotten more and more outraged at the way bankers are using their bailouts. From over the top bonuses, to corporate jets, and simply buying each other out nothing is being used as it was intended, at least as the people thought it was intended.
Nine of the banks that had received some of the largest amounts of bailout money reported more than 5,000 employees that got over a million in bonuses. How can an industry that requires so much help from the government be able to pass out bonus money of such magnitude? Where is all this money coming from? Certainly a company in so much financial trouble could not afford that.
Another great issue at this time is the risks the banks are again beginning to take with the money. Supposedly finally getting back on their financial feet, why would they choose to continue down the path of risky investments. Risky investments are part of what brought them to such a "financial crisis" to begin with.
http://www.youtube.com/watch?v=b8N7NBHQHW4
Reading a blog like this is just depressing. It reconfirms my views of politcians and corporate executes as greedy money horders. Clearly, the money they got has not trickled down to those in need, so therefore it is not aiding in the recovery of the economy.
ReplyDeleteIt is ALL ABOUT THE MONEY. I'm so disappointed.
adh50
Capitalism has always been a system that supports success. The government bail out of companies was suppose to help the everyday people. Yet instead the money is going into a few select pockets. This just make you question whether the market would have been better without a bailout, or if a bailout was needed but with stipulations on how the money was to be used.
ReplyDeleteYou do make some great points. This is not "depressing" if people do not take notice of the facts then they won't voice their opinions and stop things like this from happening.