Jon Stewart on Wall Street Bonuses
On last night's Daily Show, Jon Stewart reported that bailed-out Wall Street financial institutions have been doling out bonuses as high as eight figures. And I know that's shocking, but it's important to remember that those employees will in turn spend those bonuses and that money will help rejuvenate struggling industries. The unicorn sex-slave industry is already poised to have its first positive quarter in years.
The Daily Show airs Monday through Thursday at 11pm / 10c.
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I heard these economists and pundits talking about how the recovery is happening, and banks are finally on their feet again, but woe is America, the jobs are just not happening…
Then as they dig a little deeper, the revelation comes out that really, it's because banks are not lending to small businesses and that's why there are no jobs.
So…does that mean, it's the banks' fautl there are no jobs?
After America bailed them out and saved them from collapse, and in gratitude for that, they turn their backs on Americans? Even those who have good credit are not getting loans from these market manipulating capital hoarders. Do they want America to fail?
If they can afford to give the CEO of Goldman Sachs 100 Million dollars (I wonder how many jobs that would create), why can't they afford to loan a fraction of that to a small business?
It's really despicable. Who is defending this abject abuse of the taxpayers, and consumers? Because let's face it, without any cop on the beat or even the most basic regulatory accountability on the market, that magic hand of the market came in and scooped out granny and granpa's retirement nest eggs and 401ks, which they thought were safely tucked into Triple A rated investments.
Now that we nursed them back to health, do the big banks want America to grow and prosper, or, do they want us to fail?
Dear Mr. Stewart,
I have an idea for your show. First let me start by having you read two articles I wrote that concern politics, economics, and banking.
In the second article I was engaging in debate with a commenter that where I wrote:
Visualization: Elite's sitting in a theatre and watching a play where political opposites have knife fights every day and the only winner is the knife manufacturer who got his money from the "Money Dictatorship" LOL!!!!
"All the world's a stage" William Shakespeare
This would be a great skit with some set up on your part. I'd love to see it. I hope you think about it.
I love the show. Leno, O'Brian, Letterman, and Kimmel don't stand a chance against you.
@John Masona -
"Wow, for once I have to agree with this over pompous windbag!"
As opposed to 20 years of that gasbag Flush Dimbulb?
So we the taxpayers paid the bankers all this money so that the big wigs could get their bonuses. And they're the ones that caused this financial crisis. Our government really is smart. NOT!
Wow, for once I think I have to agree with this over pompous windbag!
Regarding the 'TARP' plan and the comments on the 'bonuses' paid to people of a certain 'talent' who might jump ship if not properly compensated: What TALENT?!
The talent to rip-off an entire nation?! Shouldn't be THAT much a problem – considering it costs so little to 'rent to own' a US Congressional Rep or Senator.
Take a cue from an asian businessman who, at the 1976 Summer Olympic Games (in Montreal), stated "America has the best politicians money can buy – for the return on investment".
Case in point: Bill Clinton took a $600,000 'contribution' from the PLA (Red Chinese ARMY) via Hughes Corp. so Hughes could launch its 'Direct TV' satellites into space aboard Chinese rockets. Then Clinton was found out and ordered to return the money – but Hughes saved millions and is making Billions in the satellite TV market while the Chinese saved millions on development of a proven, working ICBM guidance technology (used in US Air Force InterContinental Ballistic Missiles).
Bush's friends and family are quietly racking-in millions through trade in oil through produced in or shipped through Iran – in defiance of the trade sanctions the US audience was told made trade with the 'axis of evil' illegal. Due to certain loopholes written into the law limiting the number of barrels allowed – Bush administration officials (ie: Haig, Baker, etc) and other members of the Carlysle Group have siphoned profits through their holdings whilst most all others have been warned off.
As for conspiracy; in 1990 the Hubble Space Telescope was finally launched into earth orbit and only THEN was the public informed the Primary Mirror was defective. Claiming ignorance the primary contractors (Hughes & Lockheed) arranged with NASA for a repair mission (earning even more taxpayer money for supporting that mission).
When Congressional hearings int the HST debacle were held NY members of the US Senate and the sitting president (Clinton) were curiously silent – after having received offers of court testimony from an eye-witness (ie: 'whistleblower') who knew of the flaw as early as 1985!
Rather than prosecute Hughes for the deliberate fraud committed by its senior management Clinton and Janet Reno gave the company a pass – promising that the US Govt would NOT participate in any lawsuits brought against Hughes by anyone under the 'Federal False Claims Act' – effectively disarming anyone seeking to bring suit in the name of the American taxpayers.
According to officials at NASA – had they known in-advance about the offer of testimony they WOULD'VE investigated and prosecuted!
Clinton got $600,000 but had to give it back (IF he ever did – no one has confirmed whether he did), the Red Chinese got a technology which allows them to hit any target on the planet, Reno got a cushy retirement and Hughes got/gets billions in TV revenue.
Now for the pro-TARP comments; Hank Paulson was nearly drooling as he swore the entire world financial system would collapse if these firms didn't get a bail-out. Remember he worked for Goldman-Saches and as its Chief Executive he received stock-options.
As I recall hearing and reading – people who are hired or elected into positions in the federal government are required to disclose their finances and business interests. That includes shares owned but NOT options on shares. Paulson could've had been given options on millions of Goldman-Saches shares which, as long as he held them, would be worthless. The moment he placed them 'for sale' however, their book value could be in the billions of dollars. Quite the loophole isn't it?
If Goldman collapsed its shares would be worthless as would Paulson's options. If Goldman survived AND its share price climbed (as it did) Paulson could turn around and sell those options as soon as he left Govt service – which, no doubt, he did.
