Sunday, February 07, 2010

$9 Million Bonus Is Small ?


This financial industry doesn't seem to understand why the vast majority of Americans have lost all respect for them, and consider them to be little more than greedy thieves. It still hasn't entered their hard heads that most Americans are still suffering from the recession brought on by the incredible bungling of the financial industry, while they happily go on doing the same things that they had to be bailed out for doing in the past.

One of those things is the bonuses they give themselves -- bonuses that are so far above the reality of ordinary Americans that they are impossible to understand. Take for instance the bonus given to the CEO of Goldman Sachs, Lloyd Blankfein (pictured) Most people in the financial industry were shocked to learn his bonus is only $9 million dollars. Only about a year after the company had to be bailed out by the American taxpayers, most people in the industry had expected him to get a bonus around $100 million.

That's right, they expected him to get $100 million! And they weren't joking. Most thought he deserved that much. They wonder how the company can justify giving him a pittance like $9 million. After all, his counterpart over at JP Morgan Chase, Jamie Dimon, is getting $17 million.

There is no way to reason with people in the financial industry. They are blinded by their own greed and utterly incapable of seeing or understanding the suffering of their fellow Americans -- the same Americans who bailed them out with their hard-earned tax money. Most of that money earned at ridiculously low wages.

They may think they deserve these lofty multi-million dollar bonuses, but I sure don't. In fact, I consider the $9 million "pittance" to be too much. I agree with New Yorker Thomas Barnes when he said, "I think it's excessive, because I don't know one person who's really worth that much money in a year." Amen to that!

And there should be no more bail outs with taxpayer money. The next time these greedy jerks screw up their gravy train (and they will because they're too greedy not to), let them go out of business and jump out of their Wall Street windows. They don't deserve even a penny of the money middle and working class Americans pay in taxes.

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