Talks Implode During Day of Chaos; Fate of Bailout Plan Remains Unresolved

Originally posted by yellowcard
...and I hardly see how taking back all the executive pay is anything but socialism itself. I think we should just tax their bonuses and high salaries heavily. I know that's not exactly a free market, but it could help prevent some golden parachutes.

Capitalist, socialist, whatever, the name doesn't matter. Assuming it would only apply to the executives of those who participate in the bailout, think of it as a participation fee. Government services aren't free, why should this be an exception? Who better to help cover the cost than those who contributed to the problem through morally bankrupt and fiscally irresponsible (possibly criminal) business practices? Regardless, it's not as if the government is going to go in and bankrupt these multi-millionaires, they'll still be multimillionaires with whatever pathetic fine Congress may demand.

What should really happen is a meaningful criminal investigation into the entire affair, those found guilty, in addition to prison time, would have their fines count as reparations to the average citizens.

I'd (personally) enjoy liquidating their entire net worth and distributing it to the tax payers. Now THAT'S socialism !

reply to post by yellowcard
We need some gollows humor here.

"While witnessing, but not participating in, the home real estate frenzy in 2005 and 2006, I kept asking: Who is the idiot buying up all these mortgages issued on inflated home prices to all these people who have neither the capacity nor the intention to repay the loans?

Now I learn it was me."

Submission of a fellow Named Ted to the the Washington Post

www.washingtonpost.com/wp-dyn/content/article/2008/09/24/AR2008092403510_4.html

reply to post by Agit8dChop


Good post, I liked it. Can't disagree with any of that. And I hadn't heard of that take on the situation before explained that well.