Bogus bonuses and bad bailouts

Bogus bonuses and bad bailouts

There are 5 comments on the Berkshire Eagle story from Feb 1, 2009, titled Bogus bonuses and bad bailouts. In it, Berkshire Eagle reports that:

I hope Eagle readers will respond to this letter as I am having difficulty understanding what is going on in the world of high finance and need their help.

Join the discussion below, or Read more at Berkshire Eagle.

Virgils Aunty

Albany, NY

#1 Feb 1, 2009
look up US involvement in overthrowing an elected democracy in Guatemala in 1948 or so because of Wall Street concerns about a Labor Union for the Poor Fruit Pickers
Alice T

Newton Upper Falls, MA

#2 Feb 1, 2009
Could it be that the government wants to nationalize the banks? Then Nancy Pelosi and Barney Frank will decide who gets loans and at what interest rate. They were already making those decisions for mortgages via Freddy and Fannie. After nationalizing the banking system, they will be able to control all categories of loans.

You are rightfully incensed about bankers and others getting raises, and flying on private jets after getting bailout money. This anger is regularly fueled by the Eagle and NPR. However, its rarely mentioned that all Federal employees just got a 4% raise and that Nancy Pelosi has her own military jet.

Bernie Maddoff has become an icon for waste and greed in the private sector. Unfortunately, the $1 Trillion stimulus package will give give new meaning to waste and greed. The leadership in Washington needs to keep you focused on trivia like a $400,000 retreat at AIG while they make off with the really big bucks.
lost freedoms

Warwick, MA

#3 Feb 1, 2009
Congress sponsored and approved thievery.


“Everything is local”

Since: Apr 08

Great Barrington, MA

#4 Feb 1, 2009
Congress and President Bush certainly share a lot of the blame for the downturn in the economy and bailouts. That said how can a bank, insurance or morgage, company take a loan and then give themselves fat bonuses? How can a CEO who led a company into debt and failure give out multi-millon dollars bonuses, go on expensive junkets, buy luxury planes, or sell their shares before the downfall and not be held accountable?

Recently a plane went down in the Hudson River, yet the Pilot and Co-Pilot helped the passengers leave the plane and stayed until everyone was safe before they left the plane. It showed both bravery, responsibility, and character. Hopefully a few heads of the companies that have asked for or have gotten bailouts have read about Sully and may-be will take a lesson from him.
lost freedoms

Warwick, MA

#5 Feb 1, 2009
The PIGS are at the through, in a feeding frenzy, all at the taxpayers expense.

Congress is bailing out the PIGS, NOT the taxpayers/America.

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