Saturday, February 14, 2009

Open season on golden parachutes!

Ha! I don't reckon I'll do anything better than this on CafePress (the place where you can get all kinds of merchandise with all kinds of designs on them).

It would be funny if everyone had one of these bumper stickers on their cars: I reckon more than a few fat cats would start getting pretty nervous! Of course if they wanted to spend all their golden parachute money on my bronzes that would be entirely different...
Cafepress golden parachute store.

1 comment:

Maddness of Me said...

I will see if I can keep this short (I doubt it)...

There is a big difference between the bottom feeder investment "banks" that ruined our economy and the commercial bank that I work for. In fact, all the bad guys are gone now except for two, and they have reclassified to banks. This means they are now regulated, like they should have been, and we always have been. It was never a good idea to give anyone the ability to loan federal money without regulation.

With that said, commercial banks like the one I work for are left to pick up the pieces and seem to be taking the blame. We had nothing, I mean nothing to do with sub prime mortages or any of the crap that went on. However, the goverment has told us we are to take billions of dollars (we did not ask for it or apply for it, we were targeted because we are a strong bank) and give the tax payers 5% return on that money. How would you like to make 5% off your money? I certainly would. On top of that, we are to pay it after taxes (out of profits) so it's really 9%. Try loaning 2 billion dollars at 9%. Not an easy task. For the first time in our companies 150 year history, we are now forced to lay off good people.

Our bank has always performed well, in the top few as a matter of fact, despite the fact we are less than 20,000 employees. I am proud of the bank I work for and have always been treated like family. Our CEO makes less than a million, but we have made 2 billion in profits in years past, and we even made money in 2008. We are appalled at what went on at the investment companies.

This country needs more companies like the one I work for. The way good performing banks are being treated with the TARP money is predicted to close between 230 and 800 regional banks this year. It's not fair, and it's sad. The media has lumped commercial banks in with what went on with the fallen scum bags. Recently I have seen, up close and personal, how the media lies and "stories" are really editorials. These people call themselves "investigative reporters" and that is a joke.

I was a big supporter of Mr. Obama, but I am disappointed at this turn of events.