by Jack Lee
Citigroup Inc., one of the biggest recipients of your tax dollars given away as bailout money, generously handed over to their top executives $5.33 billion in bonuses for 2008,
while registering a loss of $18.7 foir 2008 on top of previous losses in 07.
Citi, Bank of America Corp., Merrill Lynch & Co., JPMorgan Chase & Co. and Goldman Sachs Group Inc., awarded nearly 4,800 million-dollar-plus bonuses, with much of the money going to Wall Street investment bankers.
Democrats in Congress said they were outraged by companies rewarding themselves for bad behavior when they placed their companies on the verge of financial ruin. Democrats are calling for a limit to such bonuses when receiving TARP money. Republicans said that to attempt to dictate salaries to companies is akin to controlling wages and they opposed it on principal.
I wrote Wally Herger asking him not to vote for this government handout. Apparently he received a lot letters which were about 10 to 1 against it.
Herger didn't' care, he voted in favor of it twice.
Jim, you are being so hard on Wally! Wow!
Look, two things you have to remember about Wally, he is in a rock solid gerrymandered district which gives him a lock on re-election, so he really doesn't have to listen to you, Ok? You're not that important. Secondly, give the man a break because he is terrified of resisting the republican majority. They can cause him real grief in Washington and this guarantees he won't listen to you! For him it's better to stay under the radar, don't make waves, don't produce any legislation, but support those who do. And in so doing there is the benefit of always having an escape route, political cover as in, "Don't blame me, I didn't write it.
Learn to settle for less Jim - we have. Go Wally!
Wowwwww! Turning on Wally? Finally!?!
This is cool.
Unhappily, we still have a country full of chimps who still have their money in Citibank. What can they be thinking? Silly me, they do not think at all.
Libby, thanks but, it's not about "turning" on anybody. This is about being honest and calling it like it is, even though I take a personal risk from offending powerful people in high places.
This is why people come here, they want to hear candid, honest opinions.
To do that sometimes it means we agree with our political opposites.
Intellectually honest people must occassionally find a point of agreement with opposing politics.
It's only common sense that neither side (left or right) is perfect and both sides do have something to offer at various times.