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Bloomberg Poll Finds That 88% Of Americans Say Bonuses At Banks Should Be Banned Or Taxed At 50%

Tyler Durden's picture





 

According to the latest Bloomberg poll, a whopping 71% of respondents (many of whom are likely bankers) have said that bonuses at banks receiving bail out funds (that's all of them) should be banned this year, and another 17% believe that a 50% tax should be imposed on all bonuses exceeding $400,000 (which, in another record bonuses year, will likely be most of them). This goes back to our thesis presented over a year ago that since Wall Street is essentially a government utility, it should be treated as one, with set IRR targets and caps, and bonuses for bankers, whose every action results in a government bail out sooner or later, should be closely controlled and scrutinized in concordance with traditional utility metrics. Then again, in keeping with the spirit of the middle-class wealth transfer program so well presented by Ben Bernanke over the past 5 years, this proposal has about a snowball's chance in hell of passing. This is doubly so now with a Republican controlled Congress whose allegiances to the banker class are not exactly top secret.

From Bloomberg:

“The American people bailed them out and immediately they went and paid their employees very large bonuses,” says poll respondent Michael Robertson, 43, of Wayne, Michigan. “I don’t believe they should have a bonus at all for a while.”

Robertson lost his job in retail management in the auto parts industry three years ago when his company cut workers and is now in school studying computer electronics. “Of course I’m bitter about this Wall Street thing,” he says.

Cash bonuses to securities industry employees in New York City grew 17 percent, to $20.3 billion, for work in 2009, according to estimates in a report last month by the New York State Comptroller’s office. While the cash bonus pool for 2010 will probably be smaller, the average bonus may be bigger because after job losses the money will be divided among fewer employees, the report said.

The Bloomberg poll of 1,000 adults 18 and older reflects continuing public animosity toward the bailouts, which became a potent political issue that helped defeat dozens of lawmakers from both parties in congressional elections this year.

Seven of 10 Americans say it’s Wall Street’s turn to help bail out the government Treasury, supporting a tax on Wall Street profits as a way to reduce the $1.3 trillion deficit. By comparison, 43 percent favor a freeze on spending for items like education and medical research, 33 percent would cut farm subsidies, 25 percent back a new tax on gasoline, and 15 percent would reduce benefits in the Medicare health insurance program for the elderly.

“I know that some of the tax I pay when I buy gas for my car, and on my income, was somewhere written into a check to keep these companies from imploding,” says poll respondent Steven Previll, 33, a maintenance worker from Harrisonburg, Virginia. “There’s an amazing amount of money being made on Wall Street. It would be cool if we could take some of that money and reinvest it in the country.”

Bolstered by bailouts, Wall Street earned $61.4 billion in 2009, almost three times more than in 2006, according to the New York State Comptroller’s office report. This year’s profit, projected at $19 billion, still would be the industry’s fourth largest, the report said.

The average securities industry wage in New York City fell more than 20 percent last year, to $311,000. That was still five times the average pay for other private-sector jobs in the largest U.S. city, the comptroller’s office said.

And as we wrote previously, none other than the New York comtroller now expects the average bonus to be larger than 2009, courtesy of headcuts in the industry. Which is why feel free to ignore disinformation campaigns by the likes of Morgan Stanley that they will be actually cutting bonuses: the bank knows all too well that with the rest of the Street hiking its comp for 2010, the last thing the firm can afford, which is now the administration's darling (GM IPO), and the ECB's indirect sovereign bond broker, is an exodus of employees to its key competitors... or whatever is left of them.

 

 


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Mon, 12/13/2010 - 13:43 | Link to Comment TheGreatPonzi
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7% of slaves and bankers in this country? Quite a lot.

Mon, 12/13/2010 - 14:05 | Link to Comment BearishFeijoadaSushi
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bankers' families and relatives probably.

Mon, 12/13/2010 - 14:36 | Link to Comment erik
erik's picture

that 7% probably doesn't include a lot of NRA members.

Mon, 12/13/2010 - 16:26 | Link to Comment Widowmaker
Widowmaker's picture

Is 88% a social-barometer of some sort?

Mon, 12/13/2010 - 15:33 | Link to Comment pamriallc
pamriallc's picture

better to consider that not all "bankers" are your local bank tellers.

also note that no one is telling sports stars to give their salaries back when the team loses, either.  the poor quality of movie you may have seen in which some actor was paid $20mm for what was a poor script.

when in the investment advisory business, I have to use *brokers* and yet if they do well for me, I don't mind that they have a fee, as well.  their "institutions" though... their "company" may be another story.

in this case I have a hard time blaming the employee any more than I blame a solider somewhere who is doing his job in an unpopular war.

what we have here is an unpopular war.  the job continues to be the same:  identify spectacular investment opportunities and acquire them for your family, or in my case, your family office.

shawn a. mesaros, pamria, llc

Mon, 12/13/2010 - 15:51 | Link to Comment TruthInSunshine
TruthInSunshine's picture

better to consider that not all "bankers" are your local bank tellers.

also note that no one is telling sports stars to give their salaries back when the team loses, either.  the poor quality of movie you may have seen in which some actor was paid $20mm for what was a poor script.

when in the investment advisory business, I have to use *brokers* and yet if they do well for me, I don't mind that they have a fee, as well.  their "institutions" though... their "company" may be another story.

in this case I have a hard time blaming the employee any more than I blame a solider somewhere who is doing his job in an unpopular war.

what we have here is an unpopular war.  the job continues to be the same:  identify spectacular investment opportunities and acquire them for your family, or in my case, your family office.

shawn a. mesaros, pamria, llc

You're way off base, Shawn.

The athlete, the actor/actress, the film with shitty script - the market will render its opinion on these things, not interventionist government policies, incredibly inefficient and even hostile to what would be normal capital flow, as in the case of subsidies and 'perks' towards a government protected-bailed out-subsidized component of the economy, which sucks money from productive enterprise and heaps it on a highly inefficient and  destructive one.

So let people vote voluntarily with their dollars as to whether an athlete or actor is worth the price of admission, but don't force people to buy a ticket to one they don't want to see and is rightfully terrible and then say "enjoy the shitty film/game, taxpayer/serf."

It's even worse, though. At least with a bad show or game, one doesn't also get kicked in the nuts on the way out to find that the government pickpocketed their wallet, stole their car and broke into their house.


Mon, 12/13/2010 - 16:22 | Link to Comment pamriallc
pamriallc's picture

consider that you have all of the same consumer options with your banker.

  1. don't use or refuse to use credit
  2. interest rates are at zero so owning a bank account doesn't make you richer with interest
  3. keep your $1000.00 in a free checking account and pull the cash out every month that's left over, buy bullion

no one legislates that I *must* have a bank account.

I personally advise clients to leave their cash at my Firm and leave the banks with just enough cash to cover expenses.  The rest is in t-bills, short muni's and only the bluest of blue chip equity with some international mixed in.

governments have been subsidizing bankers, farmers, etc.... for now thousands of years.  that doesn't make it "right" but there are ways to exercise your rights as a consumer.

  1. don't use credit
  2. keep spare cash in metals or some other convertible asset
  3. hold all brokerage assets on the "cash" side of the account so your broker can't lend your securities on margin
  4. leave minimal deposits with your "bank" account which again, minimizes their ability to earn a living.

Sovereignty is a State of Mind--- Not a Government Imposition

Shawn A. Mesaros, Pacific Asset Management   (Pamria, LLC)

 

Mon, 12/13/2010 - 16:37 | Link to Comment TruthInSunshine
TruthInSunshine's picture

While I agree with much of the above, you've deflected the main and larger point here (for all you or anyone knows, anyone bitching about the injustice of current events may also be simultaneously making lots of money - despite those injustices).

The point is not what one should do to try to be profitable in a time of relatively massive inefficiencies and government interference in American capital markets; rather, it's that government is making American capital markets massively inefficient and causing massive malinvestment through massive interventionism.

The cherry on top that gets the anger stoked is that a lying, thieving and loathsome class of individuals has parlayed their influence over legislators and the central bank (many of whose members hail from the thieving class) to benefit themselves via direct harm done to truly productive and efficient actors in the economy (this would be the use of taxes to enrichen what should have been failed banks, investment firms and Wall Street institutions).

Don't expect a good, healthy market result from this menacing and maniacal interference in markets by meglomaniacs.

Bernanke & Team Treasury are merely kicking the can and compounding the problems.

Mon, 12/13/2010 - 21:54 | Link to Comment rocker
rocker's picture

"Kicking the Can"  Please. What the Fuck !!!  If he is kicking the can, why are the middle class eating shit ???

Bernanke is making millionaires billionaires, those being the elite PD's and CB's with a few CEO's and hedge fund scumbags who got the call to help with each POMO grunt.  Don't forget the hidden derivative players ZH forgot to ever talk about. They are the biggest scumbags of all.  Got Yacht. Got Island. Got three or more mansions with slaves.

If you don't have those three, you are not elite.

Using the word slaves as being anybody who works for the elite to maintain the status quo. No disrespect intended to anyone but the elite.  

If you don't have those three, you are not elite.

Mon, 12/13/2010 - 19:23 | Link to Comment dnarby
dnarby's picture

WTF?!

If my sports team loses, it doesn't affect anything other than my feelings towards my team, and they don't bribe my gov't to bail them out with my tax money!

Other than that, you're doing OK though.

Mon, 12/13/2010 - 13:43 | Link to Comment unwashedmass
unwashedmass's picture

given that the bonuses are essentially stolen money, from the Treasury, I think a 50% tax is exceedingly generous.

So the robber walks, gets caught, and you let him keep 50% of the take, is what this is saying.

Mon, 12/13/2010 - 13:50 | Link to Comment A_MacLaren
A_MacLaren's picture

+$3.3 Trillion

Mon, 12/13/2010 - 14:19 | Link to Comment NotApplicable
NotApplicable's picture

What you're saying is that laws don't matter, but rather using force to restore a sense of "fairness" does.

Every dime that left the Treasury did so in a legal manner, thanks to the Wall St. lapdogs known as public servants.

Yet instead of insisting that DC stop its role, you advocate even further lawlessness on their part? Hopefully you can see the flaw in your theory and now realize exactly why and how much we are all fucked. It is zealots like yourself that create the very ground for every "Enabling Act" that comes down the pike. To expect criminals to provide goods and services (like justice) is an absurdity. All you do is to further empower their criminal ways.

Mon, 12/13/2010 - 15:18 | Link to Comment Calculated_Risk
Calculated_Risk's picture

RICO is not legal.

Mon, 12/13/2010 - 15:18 | Link to Comment Bring the Gold
Bring the Gold's picture

Expecting anything good out of the federal government at this point is a fools errand to be sure. Your argument about legality seems a tad specious given that many awful things have been "legal" throughout history and many good things illegal.

I feel like you ended up with a catch 22 situation. The bullshit legal giving of money was legal so we shouldn't change the law to take back the bullshit because it encourages more bullshit laws? I'm confused.

I agree we seem to be surrounded by slippery slopes, but what course are you suggesting we take?

Mon, 12/13/2010 - 16:00 | Link to Comment midtowng
midtowng's picture

Speaking of empowering criminal ways, by letting the bankers keep the taxpayer money, that is exactly what you are doing.

Mon, 12/13/2010 - 14:26 | Link to Comment jakethesnake76
jakethesnake76's picture

yes let's steal from banks cause we'll feel better lol socialism was winning ( it's had it's day)

so first you bail out banks then you can control them right .

Mon, 12/13/2010 - 16:01 | Link to Comment midtowng
midtowng's picture

Taking the money back that was stolen from you isn't stealing.

Mon, 12/13/2010 - 16:35 | Link to Comment Widowmaker
Widowmaker's picture

.

Mon, 12/13/2010 - 13:46 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Bankers & those in the financial industry who would not have jobs, BUT FOR BEING BAILED OUT, and who are now receiving near-record or record compensation, IZ GONNA GETS PAID!!!!

...no matter which party controls the Congress or Executive Branch.

(and let's make a distinction between the small town bankers and those deemed too small to steal, from those who are too big to NOT steal)

Mon, 12/13/2010 - 13:46 | Link to Comment No One
No One's picture

What the US sheeple do not know is that the banks NEED to keep paying those bonuses to keep the "talent", and to prevent M.A.D. 

 

/s

 

Mon, 12/13/2010 - 13:49 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Are you saying those who work at the upper echelon of the Vampire Squid have get out of jail free cards, or in this case, get whatever you want as long as you keep the scam we've been running on the QT cards?

These noble men and women are doing God's work.

Mon, 12/13/2010 - 13:47 | Link to Comment milanitaly
milanitaly's picture

Bonus only a moral item but stock options are the real devil of the market

Mon, 12/13/2010 - 13:47 | Link to Comment rawsienna
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Already taxed at 50% in NYC if you include state and local. Bonuses should not be banned but rather payable in stock along with some high strike calls that do not vest for at least 3 years.

Mon, 12/13/2010 - 14:37 | Link to Comment mule65
mule65's picture

Yes, bonus tax is very close to 50% everywhere so they just pay twice as much to compensate for taxes.

Mon, 12/13/2010 - 15:02 | Link to Comment rawsienna
rawsienna's picture

Then the shareholders are idiots -

Mon, 12/13/2010 - 15:04 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

YES. Exactly.

Mon, 12/13/2010 - 16:18 | Link to Comment Ripped Chunk
Ripped Chunk's picture

Bingo!

Mon, 12/13/2010 - 13:49 | Link to Comment Drag Racer
Drag Racer's picture

I think they are looking at this all wrong. Since they so called 'earned' those bonuses through fraud, shouldn't they pay them all back from last year with an added 50% fine.

Mon, 12/13/2010 - 14:08 | Link to Comment hidingfromhelis
hidingfromhelis's picture

I prefer RICO and treble damages.  In a just world...

Mon, 12/13/2010 - 13:49 | Link to Comment BotanyBabe
BotanyBabe's picture

50%? Try 90%. And no potatoes.

Mon, 12/13/2010 - 13:50 | Link to Comment UGrev
UGrev's picture

I know I'm going to get junked.. so I'll just say it. 

1. I hate these fuckers as much as you do.

2. It is completely un-American to steal (not that Americans don't steal, clearly it is fact that some do, but it is not something we promote, condone or would allow to go unpunished).

3. It is equally un-American to try to create some law that caps a persons bonus or taxes it. What's good for you is good for everyone else. 

That being said, I think people wouldn't have a problem with banker bonuses if they weren't fucking us up the ass with a big veiny schlong. This is a slippery slope and if we tie too much emotion up into it.. it could come back to bite us in the ass.. think Patriot Acts. 

Mon, 12/13/2010 - 13:58 | Link to Comment TruthInSunshine
TruthInSunshine's picture

I don't care if a banker or anyone, for that matter, gets a billion dollar bonus - if they earn it (formerly known as NOT subsidized - or, in better days, NOT subsidized and earned on the true MERITS).

 

Mon, 12/13/2010 - 14:02 | Link to Comment rrbluefin
rrbluefin's picture

+10,000

Mon, 12/13/2010 - 16:36 | Link to Comment Widowmaker
Widowmaker's picture

You raise a strong argument with "subsidized."

Mon, 12/13/2010 - 14:46 | Link to Comment UGrev
UGrev's picture

To those who junked me: You are no better than those "elites" who seek to make rules that stack everything in their favor. You're just doing it out of spite and anger instead of greed an id centric reasons. Think about it. Creating rules that favor you "just because", is very un-American. 

Mon, 12/13/2010 - 14:57 | Link to Comment weinerdog43
weinerdog43's picture

Hell yes I'm spiteful and angry.  What am I supposed to feel...grateful?  Screw that.  I'm not Jesus, and when people steal from me, I get angry. 

Mon, 12/13/2010 - 15:17 | Link to Comment UGrev
UGrev's picture

I'm spiteful and angry too. In fact, if you were in line ahead of me to push these fuckers off a cliff, I'd ask you if I could help to see if we could make an extra big splat. 

But you have to be better than them, brother.. you can't throw your arms up and say "fuck it, since everyone's cheating, why shouldn't I?".  Where does that land you? I can tell you that it won't be in the line of those doing the pushing off the cliff.. 

Be angry.. be mad.. I encourage you to be human in that respect and you have every, clear, right to do so. Just don't be them.. or like them. 

Mon, 12/13/2010 - 15:53 | Link to Comment DaveyJones
DaveyJones's picture

He got pretty pissed at the temple. And that thing about the meek inheriting the earth....they did a twist on it.

Mon, 12/13/2010 - 13:50 | Link to Comment PulpCutter
PulpCutter's picture

I couldn't care less what bonuses the bankers get, and I don't think it's my, or the government's, business.

On the other hand, I think the whole discussion is a distraction from the larger issue - that the taxpayer is STILL backstopping the gambling that the bankers do.  We need to let them bear the responsibility for their foolish bets, no matter what the collateral damage.  Reinstate Glass-Steagall.  Until we do, we're just playing games with ourselves.

Worrying about bonuses, while providing the corrupt system that makes those bonuses possible, is just a distraction. 

Mon, 12/13/2010 - 13:58 | Link to Comment A_MacLaren
A_MacLaren's picture

Reinstate Glass-Steagall.

Don't forget to repeal the CFMA.  http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

Mon, 12/13/2010 - 15:25 | Link to Comment Bring the Gold
Bring the Gold's picture

Great points about the bonuses being a side show to the real problem.

Also good points above about watching out for a Problem-Reaction-Solution style law to get passed that seems to address the bankers, but just creates more Tyrrany. Ugh, things are so far gone it seems like every possibility to change things is extremely dangerous in its own right. Not changing things of course is not an acceptable possibility either. What a weird period of time this is.

Mon, 12/13/2010 - 16:03 | Link to Comment midtowng
midtowng's picture

It's the same issue. There is a direct link between the taxpayer backstop/bailout and those bonuses.

Mon, 12/13/2010 - 13:57 | Link to Comment Al Huxley
Al Huxley's picture

If Americans want bank bonuses banned or taxed 50%, then they should have purchased some representatives in congress to do their bidding.

Mon, 12/13/2010 - 14:03 | Link to Comment DaveyJones
DaveyJones's picture

but the Supreme Court just said we now have to compete with the corporations

Mon, 12/13/2010 - 14:10 | Link to Comment Widowmaker
Widowmaker's picture

They affirmed that if you want to break the law, incorporate and disclosure/accountability magically vanish.

Mon, 12/13/2010 - 14:11 | Link to Comment weinerdog43
weinerdog43's picture

Exactly.  Now everybody get back to work.

Mon, 12/13/2010 - 15:26 | Link to Comment Bring the Gold
Bring the Gold's picture

Not magically, just you know, retroactively. 

Retroactive laws are so pernicious.

Mon, 12/13/2010 - 14:06 | Link to Comment Raynja
Raynja's picture

Just because the candidate has wool over their eyes does not make them sheeple

Mon, 12/13/2010 - 14:00 | Link to Comment chindit13
chindit13's picture

One hundred percent tax on all bonuses paid by any financial institution with assets greater than $500 billion.  Since the authorities are not ever going to break up the TBTF banks, let's give the banks an incentive to break themselves up.

Mon, 12/13/2010 - 14:01 | Link to Comment rrbluefin
rrbluefin's picture

50%?  How about 150%.  Claw back some of their ill gotten gains!

Mon, 12/13/2010 - 14:03 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Lloyd Blankfein would have to put back about 22000%.

...claims he doesn't have it...blew it all on gold bullion that was swiped.

Mon, 12/13/2010 - 14:03 | Link to Comment ZakuKommander
ZakuKommander's picture

That absolutely nothing will get done despite the overwhelming popular sentiment will once again prove the fatuity of suggesting that we live in a two-party Republic.  

Mon, 12/13/2010 - 14:14 | Link to Comment BotanyBabe
BotanyBabe's picture

Exactly. Just follow the money.

Mon, 12/13/2010 - 14:04 | Link to Comment Dismal Scientist
Dismal Scientist's picture

It makes for good headlines, this stuff. The reality is that a lot of bonus payments are deferred, payable in stock and/or subject to clawback, should the bailed out entity not hit certain self imposed financial metrics. Want to bet the banks change the rules of the game to suit them, to avoid paying out actual cash as much as possible ? Of course they do, been going on for years. As the phrase goes 'at bonus time, noone can hear you scream'.

A very tough sell to J6P and the middle class though. Is it any wonder that people behave the way they do re debt/mortgages/fiscal responsibility ? Deep down they know the game is rigged, so they'll get theirs any way they can. What noble creatures we are.

Its time for a bad joke, the topic deserves it.

Q: whats the difference between a bonus and a penis ?

A: you can guarantee your wife/girlfriend/whatever will blow your bonus...

Mon, 12/13/2010 - 14:05 | Link to Comment One Ton Lady
One Ton Lady's picture

Off with their fucking heads.  All of the bastards. We want blood.

Mon, 12/13/2010 - 14:05 | Link to Comment Quixotic_Not
Quixotic_Not's picture

Perhaps the public is getting wise to the money changers' skimming operations?

Nah...just another knee-jerk reaction.

The looting will continue until morale improves!

Mon, 12/13/2010 - 14:07 | Link to Comment One Ton Lady
One Ton Lady's picture

Yes that's right. Many of us understand quite well, what the purpose of all of this is, and the reasons why god's chosen people have decided to screw my country. It won't work though. People are waking up and fast to their schemes and machinations.

Mon, 12/13/2010 - 14:22 | Link to Comment SteveNYC
SteveNYC's picture

Day in, day out, just keep spreading the word. And do the following:

- No deposits held in the big banks or their subs

- No 401k or other securities accounts held with same firms

- No business (loans, lines of credit, insurance, otherwise) to be conducted with any of these firms

 

Keep starving the beast.It will die eventually without a bullet being fired.

 

A funny thing I saw recently: at JP Morgan's Park Ave office, someone has ripped the glittering, silver letters from its logo off of their newly constructed "barricade" in front of one of their towers.

Disgruntled ex-employee, or citizen?

Mon, 12/13/2010 - 14:07 | Link to Comment Bluntly Put
Bluntly Put's picture

What good would this serve? Just more capital controls in our already strangled eCONomy.

Want to screw the banksters? Pass legislation forbidding banks to hold treasury bonds as assets on their balance sheets and force the goobermint into true austerity. Kill two vultures with the same stone.

Mon, 12/13/2010 - 14:46 | Link to Comment weinerdog43
weinerdog43's picture

Your comment is quite correct, but reminds me of the old Aesop's fable which basically ends with "Yes, but who's going to bell the cat?"  Certainly not any bought and paid for Congress I can think of.

Mon, 12/13/2010 - 14:10 | Link to Comment Bartanist
Bartanist's picture

At one time in the not too distant past, the top tax rate was 70%. The problem with really escalating taxes today is that there are now so many taxes in total from Federal, State and local governments that the overhead rate to exist in this country is phenominally high.... and the hidden taxes from banks also adds to the suffocating of employment and growth.

.. but at least a gazillion people are employed collecting and managing taxes, collecting and managing debt and collecting and managing unsurance. Some day we might only have a dozen or so people actually producing anything of value and the rest of the 300 million plus will be sucking off the work of the dozen.

Mon, 12/13/2010 - 14:12 | Link to Comment squexx
squexx's picture

I'm amazed people haven't started shooting those tribe bastards down on the street! Hopefully it happens en masse soon!

Mon, 12/13/2010 - 22:01 | Link to Comment rocker
rocker's picture

Greenspan always walked to meetings.  Now that some in America are waking up and pissed off.

Bernankee is driven with guards.  These times are changing.   

Mon, 12/13/2010 - 14:12 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

This website is turning into a socialist shithole instead of a place where people can discuss these issues intelligently backed with data and analysis.

Mon, 12/13/2010 - 14:27 | Link to Comment SteveNYC
SteveNYC's picture

Yes, most people here have called all along for a CAPITALIST solution to the banker/thief problem (ie: let them fail). Yet you feel this is a Socialist stomping ground??

Hit your head as a child much?

Mon, 12/13/2010 - 14:36 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

So the solution to socialism is more socialism?  How about letting banks fail?  How about turning off the ability of the federal government to fund itself directly and return the states' power to fund the federal government?  How about getting back to the original genius in the Constitution and move away from  of a Progressive, Neo-Conservative, Fascist, welfare, warfare empire?

How about that Steve-O? 

How about living in a world with no government regulated hedge on failure?  A world where you are responsible for your own decisions.  Let's try that again.  Let's stop this Eurasian stupidity and get back to the future that was this country.

Mon, 12/13/2010 - 16:24 | Link to Comment High Plains Drifter
High Plains Drifter's picture

Ok , I get it. So what you think is that anybody that is searching for 911 truth, for example would be classified (at least in your mind) as being a socialist or a anarchist, or a leftist progressive type person, is that not correct?  What is it with all of these stupid labels. Can't someone just be an American wanting to know what the hell is happening with his or her country? Is that not good enough? Good grief. I can tell you where all of this labeling bullshit came from, but you are not ready for the truth, so why bother.  Let me ask you a question. Why do you think we have political parties? Think real hard on that.  White people are still 80 percent of the population. Can you imagine what this country would be like if that whole 80 percent stuck together and voted in mass, in one direction, no matter what, kind of like one big caucasion tribe? Can you? I can. It would change the world as we know it. Just that small insignificant little fact. You see, in reality , the whole thing devolves into a racial and a tribal matter, always has been and always will be, but that dirty little secret is always lost in mindless minutia and the ones that are in control know full well all of this and they play that card to the hilt.

Mon, 12/13/2010 - 14:32 | Link to Comment centerline
centerline's picture

Go ahead.  There are lots of people here who listen.  Tough subject though.  Not too many people are feeling the love for folks making rock star salaries in unproductive capacity while fabric of our society unwinds.  Sort of like in any business - when the accounting department gets creative and thinks they run the show - and "real" work grinds to halt - bad things happen.  Yeah, making a massive swing a la post-Wiemar Germany is a mistake, but staying on this current course is just as bad.

Mon, 12/13/2010 - 14:42 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

i think the demographics of the people on this website (except for Cass and his twatters) puts us in a category of better educated and probably in a position of respect in our communities, even if we don't see ourselves in that way.

If we don't stop this socialist "kill the bitchez" nonsense, we'll end with a Strong Man and this country becomes a shithole.

Show leadership and step up your game, people.  It's time to take the lead on these issues instead of looking for more government to bail us out or punish those we envy.

 

It's time to man up.  MAN THE FUCK UP!

Mon, 12/13/2010 - 14:50 | Link to Comment weinerdog43
weinerdog43's picture

Well Raymond, quite a diatribe.  If you think we're living in some sort of Socialist dream world, you're full of beans. 

Mon, 12/13/2010 - 16:02 | Link to Comment Bring the Gold
Bring the Gold's picture

I notice that socialism is often the label thrown at what appears to be a dictionary definition of fascism.

"Fascism is more rightly called corpratism as it is ultimately the merger between the state and coproations."

Benito "I coined the term fascism" Mussolini

Corporate oligarchs every which way but loose. These are privately wealth men who use the government to force others to give them money. In a socialist state one might see some benefits trickle down, not many perhaps but some. In this instance all I see is blood drained from any non-politically connected person or corporation.

Mon, 12/13/2010 - 16:23 | Link to Comment Ripped Chunk
Ripped Chunk's picture

+ 1000

Small group of corporations control the government - check

Overall tax rate above 50% - check

Extreme dissenters labeled as "enemies of the state" and detained without due process - check

 

Folks, we got ourselves a Fascist state !!!

 

 

Mon, 12/13/2010 - 16:55 | Link to Comment Bring the Gold
Bring the Gold's picture

Yep, and confusing it with socialism just divides the electorate and therefore the common people. Many on the left see Socialism as good, I might not personally agree. However, pretty much no one sees FASCISM (what we actually have) as good. If we used the right terminology we might get some popular grassroots movement to roll this shit back.

Also if Obama is a Fascist then so was Bush another important point to draw people together rather than divide. Pretending things didn't get bad until Jan 21st, 2009 is fucking ludicrous.

Mon, 12/13/2010 - 17:10 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

Fine.  Substitute "socialism and fascism" everywhere I wrote "socialism".  I always thought fascism was a subset of socialism, but whatever.  Put a label on whatever it means for human beings to get it up the ass by elected officials and bureaucrats and let's move on.

Free market capitalism is still the only form of economy that works if you want a free society.  All others please goose step it elsewhere.  Thank you.

 

Mon, 12/13/2010 - 17:52 | Link to Comment Bring the Gold
Bring the Gold's picture

I agree. We have controlled markets which are the essence of Fascism. Socialism does not necessarily mean a police state (see Scandanavia during the 1990's). What we have is fascism and the distinction is important. Socialism has some positive connotations to some due to how it worked in Europe. You or I may not agree with that assessment, but it's important in winning mainstream appeal.

One thing that's key is that we need to stop identifying with the parties ourselves. I know many ashamed people who voted for Bush or Obama and their shame keeps them from speaking out when "their" party is raping and pillaging. That has to end and we have to recognize that we have two wings of the Oligarchy party currently. As long as people keep buying into the divide and conquer tactics we're screwed.

Mon, 12/13/2010 - 18:51 | Link to Comment weinerdog43
weinerdog43's picture

Thank you.  Socialism is most certainly not fascism.  We have the worst of both worlds...privatize the profits, but socialize the losses.  That is most certainly not capitalism.  The banks are zombies and only being kept alive by stealing from us, the taxpayers.

Mon, 12/13/2010 - 14:54 | Link to Comment centerline
centerline's picture

Hitler came to power on an aggenda similar to where we might up.  That does in fact scare me.  Somewhere along the line I was introduced to the concept of the social pendulum.  That is reverses at extremes - passes center - and swings to the other side only to hit another extreme. 

Anyhow, I know that a lot of people around here are joking more than anything else.  This place is sort of an animal house from time to time - people venting - people digging to see happens if they press the shiny, red panic button - etc.  Makes me laugh.

 

Point taken though - on the more serious side of things of course.

Mon, 12/13/2010 - 16:23 | Link to Comment Widowmaker
Widowmaker's picture

Show me a real market, and I will show you real commentary with real data and analysis.

Hearing rumors of CDS-coffee hour isn't building confidence.

Mon, 12/13/2010 - 14:13 | Link to Comment homegr0wn
homegr0wn's picture

THIS IS THE PROBLEM.

88% believe that bonuses should be banned or taxed at 50%, but what will come of this? NOTHING.

America is a complacent country. There are no results from the complaints. Americans will continue to be raped. If there is to be a revolution, then start it with force. Anything less will be swept away.

Mon, 12/13/2010 - 14:25 | Link to Comment Rick64
Rick64's picture

Doesn't matter if they pass this or not. The TBTFs will find a way to pay the bonuses in another manner.

Mon, 12/13/2010 - 14:32 | Link to Comment homegr0wn
homegr0wn's picture

Exactly. Nothing matters anymore because it will all be steamrolled by whatever the banks want to be done. Bitch and moan all we want in posts on the internet, there is no disabling a corrupt economy.

Mon, 12/13/2010 - 14:57 | Link to Comment Rick64
Rick64's picture

 I remember that most Americans were in favor of auditing the FED, and look how that got watered down and nuetralized. Our politicians are bought and paid for by corporations and banks.

Mon, 12/13/2010 - 15:00 | Link to Comment ronin12
ronin12's picture

+1 - There will always be work-arounds. Besides, banning the bonus for the low-level peons accomplishes nothing.

This is all a distraction. Where are the prosecutions?

 

Mon, 12/13/2010 - 15:09 | Link to Comment Quixotic_Not
Quixotic_Not's picture

Read the following (i.e. comments) to understand why there will be no -0- prosecutions of TBTF:

http://www.zerohedge.com/article/economy-cannot-recover-until-big-banks-...

'MeriKa is completely and utterly shattered as a country and culture.

We're easy pickings for any run-of-the-mill criminal enterprise that is able to maintain a command structure and *raise* capital...

Mon, 12/13/2010 - 14:28 | Link to Comment Waterfallsparkles
Waterfallsparkles's picture

Those Bonuses are being paid for with Tax Payer Dollars.  I do not think there should be any Bonuses until the Banks go back to Mark to Market.  That Money should go on to the Banks Balance sheets as Cash deposits.

The Banks in my opinion are paying out as much as they can to their Traders and Executives before they are again in a position to fail.  They know their balance sheets are in trouble.  So, take as much as you can from Taxpayers before you fail.

Mon, 12/13/2010 - 14:57 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The day banks go mark to market...gold bullion and silver coinage shall spew forth from my asshole like a fountain of treasure.

Mon, 12/13/2010 - 14:30 | Link to Comment jimgcpa
jimgcpa's picture

88% of Americans are Fat Lazy LOSERS.

 

 

Mon, 12/13/2010 - 14:47 | Link to Comment InconvenientCou...
InconvenientCounterParty's picture

99.8% of homo sapiens believe they are smarter, more noble, more pious and more entitled to oxygen than a most "other" homo sapiens.

Mon, 12/13/2010 - 14:30 | Link to Comment superflyguy
superflyguy's picture

This is becoming funny to read/watch. People are essentially demanding more government to regulate something which is already heavily regulated but is not being enforced by the very government!

People of this country are as stupid as a dog that gets beaten and comes back for more.

 

Mon, 12/13/2010 - 14:39 | Link to Comment Quixotic_Not
Quixotic_Not's picture

The fleas are eating the dog!

Mon, 12/13/2010 - 14:42 | Link to Comment erik
erik's picture

i think people want justice.  unfortunately, they'll take it any way they can get it at this point.  so far justice is non-existent though.

that poll speaks to the dischord in America, and rightfully so.

Mon, 12/13/2010 - 14:31 | Link to Comment InconvenientCou...
InconvenientCounterParty's picture

John Boehner responds to Bloomberg poll on bonuses.

"... The voters have given us a clear mandate. They are tired of socialists victimizing the corporate class. They have demanded that the wealth transfer continue and there is no reason to compromise on that." "..For those that can't understand "high concept" economics" welcome aboard. Now sit down and STFU." Those with tri-fold hats please take your seats in the back."

Mon, 12/13/2010 - 14:51 | Link to Comment weinerdog43
weinerdog43's picture

Now watch this drive, plebes.

Mon, 12/13/2010 - 14:33 | Link to Comment notadouche
notadouche's picture

Whether or not a banker gets a bonus or not doesn't change my lot in life not one iota.  It's time we quit worrying about what other people get or don't get and just worry about making our own individual lives better.  This is utter nonsense and I'll wager that those percentage of Americans voting on banning  or taxing banker bonus' are bitter, loser, unmotivated, uneducated wastes of space or are educated liberal Marxist that want everyone to gather around and sing cumbaya and hug a damned tree.  What a waste of time this poll is.  I bet they all believe the Chinese government has all the answers and run the economy better than anyone has ever run an economy yet they don't look at what else they do to achieve the perfect economy.   What a bunch of douchebags.

Mon, 12/13/2010 - 14:44 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

+1,000,000,000,000

Mon, 12/13/2010 - 14:45 | Link to Comment erik
erik's picture

That's interesting.  So you don't pay any taxes then?

Mon, 12/13/2010 - 14:58 | Link to Comment notadouche
notadouche's picture

No I didn't say that you tax it the same as any income based on their tax bracket.  Of course they have to pay taxes but there shouldn't be any vindictive tax because the populist opinion that doesn't get that bonus don't feel like they should get it to begin with.  It's time to get past this need to get the rich or hate the banker (I'm not a banker) but I thought that was wasted emotion and energy and only served to distract to what was really happening which was the politicians sneaking their hand in the back pocket of every American while whipping up the banker hatred theme.

Mon, 12/13/2010 - 15:06 | Link to Comment erik
erik's picture

Look, I agree whole-heartedly that the problems reside in NYC and DC.  They are both enablers and talk out of both sides of their mouths.  Both need to be reigned in.  NYC can be reigned in by truthful accounting and bankruptcy.  DC can be reigned in by voting the Republicrats out.

I don't think the public's disappointment is wasted energy.  We have ~10% unemployment in this country, and bankers making record paychecks.  If there were no taxpayer-funded bailouts then I would have no problem with that situation.

Mon, 12/13/2010 - 15:27 | Link to Comment notadouche
notadouche's picture

problem is the bankers by all accounts have paid back every dime with profits.  The one's that didn't, can't or won't pay back is an insurer AIG, govt entities fannie and freddie and GM and Chrysler in the auto industry so i'm not sure why we still look at the banker as though they still owe money.  What they did was horrible to be sure but at least they got the money back to the govt.  In fact it was the government that decided to give bankers and industry bailouts.  Bankers didn't force it on our government so actually the government did exactly what they set out to do, CONTROL, taxpayer money while blaming everyone else but they still got the money and pissed it away on nonsense earmarks that in no way shape or form was part of the deal.  Remember it was going to go mostly to infrastructure to fix roads and bridges.  Well I've driven cross country each the last two summers and I didn't see anything more than line painting the whole time.  It was a total money grab from the people pure and simple.

Mon, 12/13/2010 - 15:41 | Link to Comment homegr0wn
homegr0wn's picture

" problem is the bankers by all accounts have paid back every dime with profits."

Huh? You're dumb.

Mon, 12/13/2010 - 15:55 | Link to Comment notadouche
notadouche's picture

Well I should say all the hated banks.  Goldman, BoA, JP Morgan, Morgan Stanley all out of Tarp by payment in full plus as the government has been so quick to point out how much profit they made on the stock and warrants.  Even Citi so why would you revert to name calling.  If I'm wrong then correct me with facts not just insult me without backing up your claims.  That's certainly the easy way out I suppose.

Mon, 12/13/2010 - 22:38 | Link to Comment StychoKiller
StychoKiller's picture

If the Fed would let ME borrow FRNs from the discount window at 0.25%, turn around and buy 10-year T-Bills paying around 3+%, then I too could "pay" all my bills!  Check your premises.

Mon, 12/13/2010 - 15:42 | Link to Comment erik
erik's picture

so you dislike DC more than NYC, ok.  really just a chicken and the egg argument there between us.  the banks paid back that money so they could pay bonuses.  if we had FASB 157, there would be no bonuses, and we'd be on our way to true economic healing through the bankruptcy process.

we mostly agree.  you don't want to see a banker argument that leaves out DC and i don't want to see vice versa. 

Mon, 12/13/2010 - 18:54 | Link to Comment weinerdog43
weinerdog43's picture

"the bankers by all accounts have paid back every dime with profits."

 

Bullshit.  Your entire argument is nonsense.  It's hard not to laugh. 

Mon, 12/13/2010 - 15:07 | Link to Comment Rick64
Rick64's picture

 Reward the culprits with tax money then let them reward theirselves with bonuses made from tax money. Why don't they reinvest that money by taking off those toxic assets on their books so eventually they will actually be a healthy business. They breed this contempt by their actions.

Mon, 12/13/2010 - 15:31 | Link to Comment notadouche
notadouche's picture

They don't have to because the government changed the mark to market rules that doesn't force them to do anything.  Once again, government made that choice, not banks.

Mon, 12/13/2010 - 15:39 | Link to Comment Rick64
Rick64's picture

 Well I agree with you there. They are the government. Banker lobbyists(corporations too) and the revolving door. They have infiltrated the government and their agencies to pass what they want through congress.

Mon, 12/13/2010 - 15:45 | Link to Comment cosmictrainwreck
cosmictrainwreck's picture

that's right....da gubmint did it..correct. da gubmint, bought & paid for by guess who?

Mon, 12/13/2010 - 19:32 | Link to Comment Ripped Chunk
Ripped Chunk's picture

You are mis-informed if you think people that get $30,000,000 bonuses pay their fair share of taxes as the W2 slaves or even small business owners do.

Mon, 12/13/2010 - 14:45 | Link to Comment Just_Another_User
Just_Another_User's picture

Ken Langone thinks that Americans should focus not on the bank bonuses, but on how much they give to charity!... hahaha!

Mon, 12/13/2010 - 14:50 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Well, banks are the modern Temple & Church, no?

Mon, 12/13/2010 - 14:55 | Link to Comment Just_Another_User
Just_Another_User's picture

No doubt!

Mon, 12/13/2010 - 14:58 | Link to Comment TruthInSunshine
TruthInSunshine's picture

.

Mon, 12/13/2010 - 14:45 | Link to Comment pragmatic hobo
pragmatic hobo's picture

all the hot air about bonus really misses the point. Who cares how much bonus they get? What matters is how are they getting the bonus; they are getting bonus because their profit is at second all time high, with 2009 being most profitable. How are these banks making so much money? Because the FED is basically stealing from the public to stuff the banks with cash. So Bloomberg should not go around asking people about bonus but instead ask about the Fed stealing from the public to enable these bonuses.

Mon, 12/13/2010 - 14:56 | Link to Comment Quixotic_Not
Quixotic_Not's picture

So Bloomberg should not go around asking people about bonus but instead ask about the Fed stealing from the public to enable these bonuses.

 

No, no, no!  You don't understand the Bloomturd mission ;-)

This poll was intended to allow the huddled masses to blow-off some steam, while at the same time motivate the Bankster Gangster's soldiers (D & R Oligarchs/Plebes) to re-double their con artistry in the DoC...

Matt Winkler (Editor in Chief at BloomTurd) believes that the machine is perfect, it's the human that's the problemo!

Mon, 12/13/2010 - 14:57 | Link to Comment Robslob
Robslob's picture

The real American poll would have said 90%...

Mon, 12/13/2010 - 15:02 | Link to Comment tony bonn
tony bonn's picture

taxed at 100% while rotting in jail....

so we surmise that at most 12% of americans are banksters...since i assume that most of these sociopaths are either single or dinks maybe 8-10% of americans are banksters or closely allied....add parents and relatives and that number drops to 6-8% and yet this number probably accounts for 30% of gdi...

fuck the banksters...

Mon, 12/13/2010 - 15:05 | Link to Comment notadouche
notadouche's picture

If we get to all decide what banker's deserve, then what group do we get to vote on next, Congress, TV pundits, actors, sports stars.  Hell why don't we all get together and just vote on what salary every one deserves so no one can cry about it anymore.

Mon, 12/13/2010 - 15:11 | Link to Comment erik
erik's picture

I might be willing to give up all my constitutional rights in order to make Alex Rodriguez go bankrupt :)

We cannot decide pay, I agree with you.  It would lead to creeping incrementalism.  However, I fail to see you mentioning the same problem regarding bailouts, and I think that's what is disappointing about your argument.

Mon, 12/13/2010 - 15:20 | Link to Comment notadouche
notadouche's picture

Well the subject had nothing to do with bailouts.

Mon, 12/13/2010 - 15:45 | Link to Comment Biggus Dickus Jr.
Biggus Dickus Jr.'s picture

End all bailouts now.

Mon, 12/13/2010 - 17:00 | Link to Comment Bring the Gold
Bring the Gold's picture

That's not enough. You have to claw them back and seize the ill gotten gains. Exchange testimony and not being thrown in prison for their ill gotten power/money. Stopping bailouts now is stupid when pretty much the banks are the only ones who have been bailed out. That's like stopping arm shipments AFTER you've given them to the Military Junta running the country. No arm shipments for the little people, only for the oppressors. 

Nope, gotta claw that shit back. ALL OF IT. Let them fail or succeed on their merits not on the tax payers dime.

Mon, 12/13/2010 - 15:29 | Link to Comment notadouche
notadouche's picture

Being a Texas Ranger fan it's unbelievable that he was getting a check from the Yankees and the Rangers.  That still burns.  Talking about douchebags, he's the biggest!

Mon, 12/13/2010 - 15:44 | Link to Comment erik
erik's picture

Well I used to be a Mariners fan, so we agree on yet another point!  lol

Mon, 12/13/2010 - 16:18 | Link to Comment notadouche
notadouche's picture

my big problem with the government is that they encouraged loans for housing because as Barney Frank put it and later denied saying it that everyone should be able to live in a home they own and their ability to get loans shouldn't be what stands in their way.  Then everyone who applies for a loan gets a loan regardless.  Now that is the banks fault as well as government policy failure.  So now the govt. kills the banks for making such risky loans and they should've known better.  So now they won't make loans that look to be risky and the government is mad at them for not lending.

Also the government wants households to cut down on debt and save more than spend.  When the people actually start doing that to some extent the govt doesn't like that and they want the people to spend to get the economy back on it's feet.  

I mean really this government and I mean both parties, is the most two faced talk out of both sides of their mouth, take no blame but take plenty money organization I have ever seen.  They now bully corps, people, etc to get what they want american people be damned.

 

 

Mon, 12/13/2010 - 21:51 | Link to Comment erik
erik's picture

i agree.  politicians are completely unwilling to shoulder any of the blame for our current mess.  politicians are afraid of losing their job instead of trying to make the country better.  it is selfishness and greed that are coming through in spades in our society.  the banks are right there with them though.

Mon, 12/13/2010 - 15:21 | Link to Comment kaiserhoff
kaiserhoff's picture

You can't steal from anyone you are angry with at the moment.  That's an unconstitutional Bill of Attainder.

Let's have a special tax on overpaid athletes, talking heads, celebrities and personalities.

Better yet, let's tax blacks and hispanics for overcrowding the prisons.

Ideas have consequences...., and we still have a constitution, sort of...

Break up the big banks, or just let bankruptcy do its work.

Mon, 12/13/2010 - 15:43 | Link to Comment Biggus Dickus Jr.
Biggus Dickus Jr.'s picture

Right on, bro.

Mon, 12/13/2010 - 15:51 | Link to Comment cosmictrainwreck
cosmictrainwreck's picture

well OK, kaiser - no argument here, except this: tell the godamn gubmint to quit rigging the godamn system (e.g. change/loophole GAAP, etc.) FBO the motherfucking bankers........then let's talk

Mon, 12/13/2010 - 16:47 | Link to Comment kaiserhoff
kaiserhoff's picture

I feel your pain.  My biggest fear is that the damn ponzi won't collapse, and it will take a generation of class warfare to straighten this out.

Mon, 12/13/2010 - 15:25 | Link to Comment Simon Endean
Simon Endean's picture

Give them the same choice with their bonuses that DeNiro gave the blackjack cheat in Casino:

You can have the money and the hammer, or you can walk away. 

Or just go Roman on them: if they commit suicide, their families can keep the money.  If not, they get killed, their wealth gets taken, and their families get sold into slavery.

Win/win

Mon, 12/13/2010 - 15:25 | Link to Comment cheesewizz
cheesewizz's picture

Time to start breaking shit...

Mon, 12/13/2010 - 15:30 | Link to Comment D-Falt
D-Falt's picture

I'm sure 88% of the people favor taxing somebody else's pay and bonuses every time.  When the IRS comes after their's, it's "different."

Mon, 12/13/2010 - 15:41 | Link to Comment Biggus Dickus Jr.
Biggus Dickus Jr.'s picture

Yeah sounds like 88 percent of the people are idiots. There are more constitional ways to address moral hazard.

Mon, 12/13/2010 - 15:49 | Link to Comment D-Falt
D-Falt's picture

Paulson wiped his butt on that one when he TARP-stuffed some banks against their will so that the actual bail-out recipients wouldn't stick out as a short target.  I wouldn't shed a tear if he were investigated and somehow prosecuted.

Mon, 12/13/2010 - 15:45 | Link to Comment homegr0wn
homegr0wn's picture

"I'm sure 88% of the people favor taxing somebody else's pay and bonuses every time. "
If you're so fucking sure, then point to that survey or study. Oh, you can't.

It's different because most people aren't making a huge profit because they're being boosted by tax payer funds.

Mon, 12/13/2010 - 15:55 | Link to Comment D-Falt
D-Falt's picture

If you're so fucking sure, then point to that survey or study.....

 

 

Like I really need to footnote my observation that a bunch of drunk and pissed off morons are in fact drunk and pissed off morons.  Class envy is the opiate of the losers!

Mon, 12/13/2010 - 16:12 | Link to Comment homegr0wn
homegr0wn's picture

So your argument is all conjecture.

I understand. When I was in second grade I used conjecture to solidify my points. One day you'll be a big boy.

Mon, 12/13/2010 - 16:17 | Link to Comment D-Falt
D-Falt's picture

When I was in second grade I used conjecture to solidify my points...

 

Yes, after 5 or 6 hideously botched attempts, you did get all the way to 3rd grade.  It's not conjecture when what I'm saying is obvious. 

Mon, 12/13/2010 - 16:25 | Link to Comment homegr0wn
homegr0wn's picture

You're right, it's not conjecture -- it's delusional.

Mon, 12/13/2010 - 16:30 | Link to Comment D-Falt
D-Falt's picture

Delusional?  You mean like thinking this online poll actually represents the overall sentiment of the general population.  You remind me of the idiots who celebrated every time Ron Paul won a GOP straw poll back in 2008.  You quite frankly strike me as an individual with the proximate IQ of a grapefruit. 

Mon, 12/13/2010 - 16:51 | Link to Comment homegr0wn
homegr0wn's picture

Nice Straw Man and Ad Hominem. You still fail.

"You mean like thinking this online poll actually represents the overall sentiment of the general population."

OH.. BECAUSE YOU DIDN'T????

"I'm sure 88% of the people favor taxing somebody else's pay and bonuses every time."

Dumb.

Mon, 12/13/2010 - 15:49 | Link to Comment Robslob
Robslob's picture

Since we clearly have no problem shredding the constitutional rights of every man, woman and unborn child in American why do people always refer to upholding the constitution for scumbag bankers, wankers, CEO's or politicians?

 

Mon, 12/13/2010 - 16:00 | Link to Comment The Pierogi King
The Pierogi King's picture

Bonusses are already taxed at 47% - don't use my tax money to bail out banks who continue to pay any bonus - you get a bonus (or profit sharing) for hitting you profit and efficientcy goals not for requiring a bail out or in other words, running you bank into the ground!

Mon, 12/13/2010 - 16:14 | Link to Comment packman
packman's picture

So after the fox raids the henhouse - his punishment is to take away 2/3 of his stolen eggs instead of 1/4 of them?

Sorry, but no.  The way to solve the problem is to kill the fox.

Let 'em go under.

 

Mon, 12/13/2010 - 16:19 | Link to Comment D-Falt
D-Falt's picture

That would be the preferable route.  Use it on banks, car companies and anyone else who think they deserve a free ride just because they are employers or enablers of economic transactions.  A business is as useful or beneficial as the market currently says that it is.

Mon, 12/13/2010 - 16:24 | Link to Comment TexDenim
TexDenim's picture

Polls are a crock. Depending upon how they're worded, you can show any result you want. It's just like statistics.

Mon, 12/13/2010 - 18:14 | Link to Comment redpill
redpill's picture

The ship has already sailed, this is what you get when you bail out bad actors.  You get get more bad behavior.  The ONLY opportunity for them to learn the lesson was to not get bailed out.  But unfortunately we missed that key opportunity, and instead people want to try to "fix" it on the back end.  Sorry, doesn't work that way.

Mon, 12/13/2010 - 19:09 | Link to Comment Cdad
Cdad's picture

Wow,

I was working on a long form essay for this thread, and then Cramer came on and is face-planting anyone that believes, as the survey reveals, that Americans hate bankers.

Well, with his ratings in the tank while finding yet another way to betray his supposed cred as "champion of the little guy," I don't think I need to weigh in here, at all.

For whatever Cramer talks about pops...and then is shorted into oblivion by the long knives types, the hedge funds.  All a guy need do is simply stand back and enjoy the implosion.

So I digress....if Cramer be for them, who could be against banksters?

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