Sunday, February 1, 2009
Just the mention of the word riles people up. Few concepts anger people more than socialism....
...unless its for their benefit of course.
This NY Times article highlights the view on Wall Street with respect to their bonuses. To the surprise of noone, they think they are worth every penny and any attempts by Obama to curb their big checks would be.....socialism of course.
And you know what, they may actually have a point. Capping how much people can make reeks of socialism.
Problem is, so do government bailouts.
Wall Street workers feel like they deserve a piece of the pie when they bring in 30 million or so worth of business. Fine by me as long as you take some of the hit when you lose 30 million or so.
Unlike some of my friends, I honestly have no problems with people earning a lot of money in and of itself. That's a part of capitalism. But, don't come on the corner with your change cup when you screw everything up either.
The fact is that when your bank goes belly-up and/or needs 300 billion or so of government help, you have not earned a damn bonus. What could any of those people have possibly done to earn a bonus given the current state of their industry?
Give me a break.
Obama and every taxpayer in America is absolutely right to question bonuses paid out to anyone at a bank that received bailout money. And any one of them who doesn't like that because it is socialist should immediately return the bailout money they received.
Stick with your position folks.