“The American people will never knowingly adopt Socialism. But under the name of ‘liberalism’ they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.”

Socialist Party presidential candidate Norman Thomas

Monday, November 03, 2008

Reward for failure.....apparently it's the American way

Three weeks ago, you would have thought the financial sky was falling.....because that's what they told us. Now, the fat-cat partners of the banks that received our bailout money are laughing it up all the way to the bank....get the irony? This is from the UK branch of bailout recipient Goldman Sachs.....

Goldman Sachs is on course to pay its top City bankers multimillion-pound bonuses - despite asking the U.S. government for an emergency bail-out.

The struggling Wall Street bank has set aside £7billion for salaries and 2008 year-end bonuses, it emerged yesterday.

Each of the firm's 443 partners is on course to pocket an average Christmas bonus of more than £3million.

The size of the pay pool comfortably dwarfs the £6.1billion lifeline which the U.S. government is throwing to Goldman as part of its £430billion bail-out.

As Washington pours money into the bank, the cash will immediately be channelled to Goldman's already well-heeled employees.

Goldman-Sachs, Lehman Brothers, etc. are among the many banks whose managers were absolutely derelict, if not criminal, in their jobs. They whined and cried for taxpayer money to absolve them of responsiblity for their insanely stupid lending practices.....responsibility which, in a righteous world, would have included bankruptcy and jail. Instead, they are laughing at our naivety and gullibility, because after they lost trillions in value for their stockholders, they looted the citizens for more.


Bonuses for what? Ruining the company? In what bizarro world do these a-holes deserve bonuses?

It's over folks! Bush, most republicans, all democrats, all bankers, insurance execs, you name them and they've succeeded in pillaging the public coffers to enrich themselves personally. Has the economy improved as a result of the bailout? NO! A thousand times NO!

We've reached a tipping point ladies and gentlemen. Not only do at least half of Americans believe it's the government's responsibility to educate, feed, clothe, house, employ, and medicate them, but our once-great free-enterprise, free-market, private business sector now recognizes that there is no longer risk associated with operating a business. If they do something stupid, they cry like babies and our President will give them some more of other peoples' money to play with. The only responsible people left in America are individuals with jobs in places other than banks or Congress.....and at least half of us are voting for the socialist Obama. GOOD GRIEF!!!

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