American International Group (AIG) Execs Splurge
- Thread starter Facetious
- Start date
You get the torches, I'll get the pitchforks. "Barbarians at the Gate" if you please.
We could bash the door and put them out of our misery.. right? It's perfectly reasonable to anyone who knows what kind of assrapery the public is recieving.. and hell, it's a global economy so the rest of the world should be in on it, too.
Obama was the only one to address this in last night's debate:
http://blogs.wsj.com/washwire/2008/...-be-punished-for-spa-trip/?mod=googlenews_wsj
http://blogs.wsj.com/washwire/2008/...-be-punished-for-spa-trip/?mod=googlenews_wsj
It's time to just push aside this noise about "class warfare" that the wealthy claim every time you call them out on their abuses and inordinate salary's ,low taxes etc.Don't tell me anybody does anything working for a company worth 10s or even hundreds of millions of dollars.And then they pay almost the same tax rate someone making $50,000 does.This country belongs to the people and not the few rich elites and we have every right to determine that there should not be such a gap in between incomes of execs and workers.The big guy makes 10 or 20 times more is one thing but when the gap is he or she(a few of them lol) makes 100s or even 1000s times more then workers then thats warfare allright,warfare against workers and the majority of americans.And we should have a more progressive tax system as well based on ability to pay.Right now it is a system where the middle pays very close to the same rate the top does,thats just not fair especially while the top are raping the country and taking us into depression.We have the right to demand better.No more McSame!:thumbsup:
I think we need to be careful about generalizing the top that way, else imo one is promoting class warfare. The vast vast majority of those who are well to do are not like those AIG execs. They are not heartless, soul-less Gordon Gecko clones. Millions of us depend on them for jobs and, if we don't own our own homes, residences. I'm ok with Obama's proposed tax hike for the plus 250K earners (although I think that number should be adjustable based on the cost of living in one's state of residence), but at the same time we need to be careful about crossing that fine line where we start punishing success, and demonizing those who've achieved it.
Sorry we just disagree here,the vasy majority at the top are the Gordon Gecko's IMO.Some like Warren Buffet who said his secretary pays a higher tax rate then he does and thats wrong are the exception IMO.The execs like at Lehman and AIG are much more the norm I think.The only class warfare that is being perpetrated is the wealthy buying the govt with their money and lobbying for the way things are today.Like I said we need a system like Japan has who is fairly succesfull economically. where pay is not allowed to be so much more for execs then workers like it is here.This country did very well in the 50s and 60s with a much more progressive tax structure also I would add.
I remember the post office sponsored the olympics some years ago, and as civil servants some of the management took themselves to a vacation in Puerto Rico spending about $200,000 if I remember. Further investigation revealed another high ranking civil servent, got a moving allowance of some $80,000 and other expenses, even though his new home was closer to his job than his old. If I'm not mistaken, he was also paid above market value for his old home. Very cushy, I don't rembember it all.
Facetious
Moderated
While this might sound good, executives will be executives and chiefs will be chiefs. The truth is, our govt., in its current form, does not have the capacity to "control" the salaries of the private sector executives. The executive simply compensates himself in Yen, Francs, Hong Kong Dollars etc.
Yet another advantage to becoming a "global economy".
Other option - Tax the crap out of 'em ! Same difference, the executive will always find angles in which to "compensate" himself, even at the peril of the firms' investors.
Finally, If we were to employ a fascistic form of govt., there would be a mass corporate exodus to friendlier shores. The idea of that makes your elected representative(s) shudder ! (loss of lobby "fundage") and loss of GDP, or is it GNP ? :nono:
I think that a new business (and regulatory govt.) ethic needs to be re instilled, one that includes mutuality and fiduciary responsibility.
Dream on !
:oHow about an end of the hedge bankers ?
Nope ! It's an Intl. economy !
dammit
While this might sound good, executives will be executives and chiefs will be chiefs. The truth is, our govt., in its current form, does not have the capacity to "control" the salaries of the private sector executives. The executive simply compensates himself in Yen, Francs, Hong Kong Dollars etc.
Yet another advantage to becoming a "global economy".
Other option - Tax the crap out of 'em ! Same difference, the executive will always find angles in which to "compensate himself.
Finally, If we were to employ a fascistic form of govt., there would be a mass corporate exodus to friendlier shores. The idea of that makes your elected representative(s) shudder ! (loss of lobby "fundage").
I think that a new business (and regulatory govt.) ethic needs to be re instilled, one that includes mutuality and fiduciary responsibility.
Dream on !
The Japanease do it somehow??
AIG is going to be give another $40 Billion for unspecified reasons. That will make $120 B and they said they already spent the $87 B they were just given. I hope they get back from their get-a-way at the prestigious St. Regis Resort in Monarch Beach, California, by Friday afternoon so they can pick up the check or else wait until Monday.
Your taxes at work!
Your taxes at work!
Various news and business blurbs today suggesting the bailout is not working.
Here are two of many;
http://biz.yahoo.com/tm/081008/18152.html?.v=1
http://abclocal.go.com/ktrk/story?section=news/national_world&id=6435994
Here are two of many;
http://biz.yahoo.com/tm/081008/18152.html?.v=1
http://abclocal.go.com/ktrk/story?section=news/national_world&id=6435994
Earlier today, the markets were in resurgent mood after the coordinated interest rate cuts and the flabbergastingly enormous UK rescue plan, but within a couple of hours of announcements from the IMF and World Bank stating we're on the cusp of global recession and that things are going to be bad until the next half of 2009, they all plummet. The markets are super-volatile, and all they can do is grab more idiots to sit in front of a camera to gab on about things we already know.
Stupid. Fucking. Media.
Oh, and yes... those executives need to be hanged, drawn and quartered. :/
Stupid. Fucking. Media.
Oh, and yes... those executives need to be hanged, drawn and quartered. :/
The corporations honestly wont have much choice if this downward economic spiral continues. To other shores they go and we'll just hafta make it on our own.
But that's assuming there are other shores to go and prosper in; with the world economy pretty tied together.. where exactly can they find new success? I'd like to say that they should just face up to the reality and start treating the consumers fairly or go bankrupt. But eh, it's looking like they'll all go very bankrupt before doing the 'right' thing.
Either way it'll be a fantastic, jobless ride! ::
But that's assuming there are other shores to go and prosper in; with the world economy pretty tied together.. where exactly can they find new success? I'd like to say that they should just face up to the reality and start treating the consumers fairly or go bankrupt. But eh, it's looking like they'll all go very bankrupt before doing the 'right' thing.
Either way it'll be a fantastic, jobless ride! :
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