Bailing out the Wealthy

Can you say amen to what comedian Wanda Sykes says in this 2 minute video about the 700 billion dollar congressional bailout?

This Reuters article gave a bit of enlightenment as to how some of that $700 billion dollar US government bailout might be spent.

Troubled financial giants getting cash infusions from the U.S. Federal Reserve owe their executives more than $40 billion for past year's pay and pensions as of the end of 2007, the Wall Street Journal said in an analysis.
The Journal also cited investment banks Goldman Sachs Group Inc (GS.N), which owes its executives $11.8 billion; JPMorgan Chase & Co (JPM.N), which has a payment of $8.5 billion pending; and Morgan Stanley (MS.N), which owes between $10 billion and $12 billion to executives.
But overlooked in these efforts is the total size of debts that financial firms receiving taxpayer assistance previously incurred to their executives, which at some firms exceed what they owe in pensions to their entire work forces, the Journal said.
Here is hoping that wisdom will reign in DC and wealthy executives will not benefit from the government's ginormous bailout.


  1. I guess McCain's tax breaks are not enough for them!

    I'll give Wanda a big Amen!

  2. Does she even understand how this all came about?

  3. The roots of this financial crisis are rooted in bad policies.. plenty of blame to go around Karen.

    This post is about how we should not be bailing out executives.. IMO they should not receive one cent of that $700b.

    I guess we will just have to wait and see how it all plays out.


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