Your tax dollars hard at work...

[manyeyedhydra]

So this is where the bailout is going - $70bn in wages/bonuses.

http://www.guardian.co.uk/business/2008/oct/17/executivesalaries-banking

Someone should politely remind these folks it's time to turn off the music, switch off the lights and go home. The party's over.

Or failing that throw molotov cocktails through the window.

Sorry for cluttering up the AH with yet another economic/political thread.

Now if you'll excuse me I need to go somewhere to vomit.

 

[Katyusha]

"Many critics of investment banks have questioned why firms continue to siphon off billions of dollars of bank earnings into bonus pools rather than using the funds to shore up the capital position of the crisis-stricken institutions. One source said: 'That's a fair question - and it may well be that by the end of the year the banks start review the situation.'"

A "fair" question? That's a gross understatement. I'm sorry, but you don't use government dollars that are supposed to bail your ass out of a potential collapse for big executive payouts and schmoozing parties and the like. I don't give a rat's ass what the "free market" people, or the pro-corporate people think of my opinion; don't try and tell me how big business works because contrary to what my opinion makes the above people think, I DO have knowledge and education about this. All of it.

That bailout came from MY tax dollars, and yours, and everyone's, including these companies' own coffers, and they're using a total of 10% of it for executive pay? I don't think it's possible to insult us, small businesses who are struggling in this economy, and the middle class (who, believe it or not, shoulders the bulk of the tax burden in this country now), any worse than this, except maybe to increase that percentage.