Where is the Outrage over the Bonus?
By bobmnu
@bobmnu (8157)
United States
April 3, 2009 10:37pm CST
Just a few short weeks ago member of Congress, the President and the Media were up in arms over the $165 million being paid out with government money. ACORN bused protesters to the Exec homes to protest. Congressman Barny Frank Demanded the names to let the people know.
Today the Wall Street Journal released the story that Fannie and Freddie were set to pay $210 million in bonus. http://online.wsj.com/article/SB123876318076986497.html
Considering that these two Government Sponsored Enterprise (GSE) should be leading the way in not paying bonus. But then since the Democrats have their friends being the ones who are receiving the money it will be overlooked. I don't think that ACORN will be busing any demonstrators to the homes of these people homes. I am waiting to hear what President Obama has to say about this. Will congress pass a special tax law to remove all the bonus?
5 responses
@bubblyapple (2653)
• Philippines
4 Apr 09
Not really sure what they are going about that now. I know that because President Obama is in London for the G20 conference, most of the media people are now focusing on that.
@bubblyapple (2653)
• Philippines
4 Apr 09
You're right. In dealing with the media, timing is everything.
@Destiny007 (5805)
• United States
4 Apr 09
Well, if AIG was wrong to give out bonuses, then it is a cinch that it is wrong for Fannie and Freddie to give them out.
They started the mess, and have been the recipient of government money for years.... not to mention all of the campaign contribution they have made to the democrats over the years.
@xfahctor (14118)
• Lancaster, New Hampshire
4 Apr 09
I'll one-up this. How about the BILLIONS in bonuses to Meryl Lynch, this is just comming out this morning and again, they (congress) KNEW about them. So will we see the same foux outrage from the capitol over it?
I still say they are trying to deflect the attention away from themselves and their incomeptence and using the peasants to do it, does this sound at all familiar?
@bobmnu (8157)
• United States
4 Apr 09
I agree that we should look at the ones who are yelling the most. Remember when Rep Barny Frank yelled at the Auditor who told Congress that Fannie and Freddie were in serious trouble and he lectured him that the report told him(Barny Frank) that the two GSE were sound and a good investment. As the Bonus continued to flow with friends receiving millions the two were failing and dragging down the whole banking sector. If Congress and the DOJ will not invesgate then the people should vote them out in 2010
@jonesy123 (3948)
• United States
4 Apr 09
The AIG one was artificially hyped up. It was more in terms of, those rich people simply do what they want and we will demonstrate that we can stick it to them... Now, if they show that those bonuses are pretty standard stuff.... you know, it's just something they'll explain away.
If they do want to take care of that, they do need to eliminate the option to pay a bonus, period. But performance rewards have always been a part of our work culture. It always provided the incentive to go that extra mile. Although lately it has become just part of expected and standard pay. Who knows, maybe in the future we'll all just 'volunteers' and show up to work out of the goodness of our hearts having the basics provided by the government such as housing, transportation, clothing, and food... the same for all us;)
@bobmnu (8157)
• United States
7 Apr 09
It is interesting that New York State has stated that they need to raise taxes on the top income earners to raise $40 Billion in new taxes. It might work based on last years tax returns. Without the bonus (denied by President Obama) they are already well over $10 billion short in taxes. Mayor Bloomberg is worried that some of the 40,000 wealthy people, who's taxes support most of the city expenses, may move away and then the city would be in big trouble. Without the bonus New York State and NYC are in deep financial trouble. Looks like the loose lips will sink states and cities. The Economic law of unintended consequences.
