Word on the street is that some U.S. financial institutions may refuse to participate in the $700 billion bailout package passed by Congress last week. If you can believe it, executives at these at-risk institutions may kill the whole thing due to the restrictions placed on their personal compensation.
In other “Oh, No, They Did-n” news from Wall Street, the Justice Department says that, while they may pursue charges against a few individuals involved in the current economic crisis, they will not be going after the companies themselves.
I wish the A-Team and the Equalizer were still around. You could count of them to bring evil-doers to justice when the system wouldn’t. All we’ve got nowadays are the Yes Men. They’re great and all, and I’m glad we have them, but I want someone who can build a machine to crash through walls and shoot bone-breaking watermelons.
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Levin and Dingell voted for this, along with both McCain and Obama. George Bush signed it.
Remember that.
The bailout theme song…
http://www.youtube.com/watch?v=LhgFSWKQmPk
So, from the Guardian piece I gather that these executives are thinking of actually earning their pay by figuring out how to make their companies survive without our assistance. I have no problem with that…. best case scenario actually. The article also says that the US government acting as a kind of co-signer/guarantor on the debt may create enough liquidity to get money moving through the system again. The problem is not, in most cases, an absence of cash, just a wait-and-see approach that prevents the money from moving around.
I think it’s somewhat hysterical (and predictable) that actual consequences to the big guys themselves (as opposed to the rest of us) makes them stop whining and cowering, step up to the plate and figure out how to fix the mess they made.
Yeah, that Gruaniad article has shitty framing, but so long as the worst firms take the bailout, we’re better off if fewer of the firms on the fence do.
Weird Al’s new parody addresses the financial crisis.
WHO NEEDS AN ECONOMY ? FREEDOM IS WITHOUT ……
LET INDIA , CHINA AND WHOEVER ELSE FIGURE OUT SOCIAL DRAWBACKS FROM GREED
9-5 SLAVERY AND CONVIENANCES..