There is so much concern about how much bank executives and their “top” talent are paying themselves millions of dollars especially after having being bailed out by the tax payers. There are basically two arguments.
First there are those who say it is immoral for people to pay themselves millions after being bailed out by the taxpayers, seems understandable.
The second group says top talent deserves to be paid millions, otherwise those talented people will pack their bags and go to other companies, one needs to pay top dollar supposedly to have a good stock broker. Yet none of these “top talent” had a sell on AIG, but that is besides the point.
Take Goldman Sachs for example, they have paid all the money from the bailout, or most of it, who knows what is true, why can they not pay those they feel like as much as they want. They owe nothing anymore so why the worry. It is immoral at this stage to demand that Goldman Sachs restrict pay when they owe nobody anything. Goldman Sachs is not obligated to be dictated to by none shareholders. They can give each other as much as they want. But if Citi Bank owes the government money then no way can they pay themselves millions of dollars, one says themselves because it is a buddy buddy thing.
Tax payers have no right to be angry at the likes of Goldman Sachs, they should be angry at themselves at squarely at Bush and Obama for having bailed out Goldman Sachs, that was immoral, they should not even be existing, but both Bush and Obama figured they will retire one day who will sponsor their foundations and pay them to run around the world to make speeches, the likes of Goldman Sachs, that is why the bailout, do not doubt it. It was done, no need to cry over spilled milk, but nobody now has a right to regulate their pay, next time people should not be so blind.
Regulation will help with nothing except to create rigid class systems, that is what Obama and Bush have been working towards, the market punished the untalented Goldman Sachs and made space for those with talent, but creeping totalitarianism ensured that they survived, now they are back saying how talented they are.
Are bank executives, or corporate executives for that matter over paid. Maybe yes maybe no, but that is not up to the government to decide how much people should be paid. Corporations have shareholders, if they let the board pay themselves millions of dollars then the shareholders are getting exactly what they deserve. Take for example the Rockefellers, well if they do not want to be involved in Exxon, then let the board pay themselves as much as they like.
If for example the largest shareholder owes 2 – 3% of a large corporation and the board only has 0.5% and the largest shareholder does not want to be involved they want to go bungee jumping instead of taking their responsibilities seriously they deserve to be cheated, it has been known for thousands of years that when the cat is away the mice will pay, even the book of proverbs in the Bible of the west talks about a foolish child will lose their inheritance to a wise servant. Go and bungee jump and they will take your inheritance, but it is not for the government to come to your defense. Obviously owners do not pay themselves ridiculous amounts, look at Bill gates taking economy class for years even as a billionaire.
These people did not build these institutions like General Motors, so even as General Motors was collapsing they wanted to fly by private jets to get bailout money.
Is this the nonsense that America wants to export to the world, that some people are more equal than others and need to be bailed out, too big to fail, BS. Is this the kind of creeping totalitarianism that Obama and Bush want to export to the world behind the veneer of a government for the people by the people, these are dangerous times for freedom, as freedom is attacked in every corner from USA to Iran, Uzbekistan, Zimbabwe, there are those who want to rule for ever, Goldman Sachs time was over, thanks to Bush and Obama they will be around for ever, and morally they have the right to pay themselves what they like.
Bhekuzulu Khumalo
Showing posts with label bailout. Show all posts
Showing posts with label bailout. Show all posts
Sunday, October 25, 2009
Saturday, August 22, 2009
Obama, One Term??
I was shocked watching CNN, yesterday, August 21 200, dire warnings of Obama serving one term, like Jimmy Carter back then.
Obama came promising change, his first duty was to save those who earn a million plus a year, every year, they had their time the market decided they are inefficient, Obama decided otherwise. The market is society, the most democratic principle. Now he wants another big project healthcare, America is in a lot of debt. A civilized society needs health care, since universal times, healthy people work better, if it is not affordable, well the society will suffer. A permanent class of unhealthy people will be created because of spiraling prices, because Obama thought he first must not have change, now he talks of change, lets fix this, shame.
Obama should have done healthcare first. True, too bad, can he overcome, well we will see. Good Luck.
Bhekuzulu Khumalo
Obama came promising change, his first duty was to save those who earn a million plus a year, every year, they had their time the market decided they are inefficient, Obama decided otherwise. The market is society, the most democratic principle. Now he wants another big project healthcare, America is in a lot of debt. A civilized society needs health care, since universal times, healthy people work better, if it is not affordable, well the society will suffer. A permanent class of unhealthy people will be created because of spiraling prices, because Obama thought he first must not have change, now he talks of change, lets fix this, shame.
Obama should have done healthcare first. True, too bad, can he overcome, well we will see. Good Luck.
Bhekuzulu Khumalo
Saturday, August 8, 2009
The Government Can't Help You, Honestly, Not in America
One can’t help be perplexed when ever Rev. Jesse Jackson talks about social justice. Telling the truth is not enough, it is about acting within the parameters of that truth. Sure Jesse Jackson is a truthful man, I doubt he has ever misled anybody when it comes to social justice, but he needs to understand the reality of a system.
We have been talking for years about the free market, the government should not be involved in the economy because it will, it must show bias if it is involved to the wealthy and the elite of the society. We demanded this because we believed in the ability of black people all over the world, and the main detractor for blacks is the government that acts in the interest of he elite, all governments at all times are like this. A government must come to the aide of those that prop them up, in Burma it is the military, in China it is members of the communist party and the businessmen who have been allowed to grow, in Canada it is the largest financial institutions that are insulated from domestic and international competition, in England it is those who control the city, these people are huge political donors, in the USA it is the banks and other financial institutions. These people expect reward and protection from the government if ever they are in a crises. The US has gone to war to ensure the profits of big oil.
Leaders like Jesse Jackson need to understand that blacks are at the bottom of the political process, the large donors for the present administration where hardly black, that is reality, he needs to reward those who helped him materially enter the white house, that is the way the world works.
Do not tell me a single black person expected to be first in the queue, that is foolish thinking, why? Blacks should demand the government stays out of the economy, those large financial institutions should have crashed, as justice of the market demanded, a few black banks would have risen up the scale in the new order left by the dead Bank of America, the dead Goldman Sachs, the Dead Citi Bank, the dead Merrill Lynch, the dead AIG, some rational whites would have deposited money in these black concerns as they had actually more talented people than the giants that got money from Bush and Obama, yet no body is willing to support the truth.
Okay African Americans want government involvement, well there it is, the bigger share will always go to the elite, not towards justice. It is time Jesse Jackson supported the fee market and believed in the ability of the black man, black banks proved they are more talented than those giant banks that needed billions of dollars to survive. Support the Free Market because united blacks do not need any help.
Everyday you hear bad news from Africa in the press, everyday western mining firms are making billions in Africa, where are the African Americans whilst the white miners from North America and Europe are making billions. The problem is blacks in North America do not scrutinize the news, in a way deep down, people believe the media, are that is a messed up continent with messed up people, messed up yes, but why, and if it is so crazy with savages, why are white mining firms going there every day.
Bhekuzulu Khumalo
We have been talking for years about the free market, the government should not be involved in the economy because it will, it must show bias if it is involved to the wealthy and the elite of the society. We demanded this because we believed in the ability of black people all over the world, and the main detractor for blacks is the government that acts in the interest of he elite, all governments at all times are like this. A government must come to the aide of those that prop them up, in Burma it is the military, in China it is members of the communist party and the businessmen who have been allowed to grow, in Canada it is the largest financial institutions that are insulated from domestic and international competition, in England it is those who control the city, these people are huge political donors, in the USA it is the banks and other financial institutions. These people expect reward and protection from the government if ever they are in a crises. The US has gone to war to ensure the profits of big oil.
Leaders like Jesse Jackson need to understand that blacks are at the bottom of the political process, the large donors for the present administration where hardly black, that is reality, he needs to reward those who helped him materially enter the white house, that is the way the world works.
Do not tell me a single black person expected to be first in the queue, that is foolish thinking, why? Blacks should demand the government stays out of the economy, those large financial institutions should have crashed, as justice of the market demanded, a few black banks would have risen up the scale in the new order left by the dead Bank of America, the dead Goldman Sachs, the Dead Citi Bank, the dead Merrill Lynch, the dead AIG, some rational whites would have deposited money in these black concerns as they had actually more talented people than the giants that got money from Bush and Obama, yet no body is willing to support the truth.
Okay African Americans want government involvement, well there it is, the bigger share will always go to the elite, not towards justice. It is time Jesse Jackson supported the fee market and believed in the ability of the black man, black banks proved they are more talented than those giant banks that needed billions of dollars to survive. Support the Free Market because united blacks do not need any help.
Everyday you hear bad news from Africa in the press, everyday western mining firms are making billions in Africa, where are the African Americans whilst the white miners from North America and Europe are making billions. The problem is blacks in North America do not scrutinize the news, in a way deep down, people believe the media, are that is a messed up continent with messed up people, messed up yes, but why, and if it is so crazy with savages, why are white mining firms going there every day.
Bhekuzulu Khumalo
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