Wednesday, February 04, 2009

Wall Street Executives Whine About Pay Freeze.

So by now I'm sure you've heard that President Obama is putting a pay freeze of $500,000 a year for executives and others working at banks/companies that are receiving tax payer money. However, many up on Wall Street are complaining that with the pay cuts they won't be able to make it. One going so far as to say that $500,000 a year is not a lot of money!!! WTF?!! Mr. James R. Reda who is the owner of Compensation Consulting Firm.

ARE YOU KIDDING ME?!!! We're all losing our jobs, getting pay cuts, having hours cut back and yet we have to shell out tax dollars (our money) to keep the banks afloat, which I understand but subsidizing excessive bonuses and salaries??? I realize that we can't let all of these banks fail but I refuse to reward the very people who got us into this mess by using my tax dollars to pay bonuses. See, I come from a place where you only get a bonus if you do well not if you screw up and certainly not if you screw up so bad that you need the government to come and prop you up.

Not a lot of money? $500,000??? They should feel lucky and be happy that 1). They have a job and 2). They are making $500,000 a year when the very people allowing them to keep their $500,000 a year job (you and I) make a tiny fraction of that kind of money. You and I will be lucky to see $100,000 a year and these clowns are whining that they can't live on $500k?!!

If that's not enough money for your Mr. Reda then maybe you should do what a lot of Americans are doing these days--get a second job or shut your pie hole. You'll earn more when you can turn your companies around and get off government welfare. Welfare is exactly what they are on and if they want to see true hardship then they should try and live on real welfare checks and/or social security disability payments. They'd shut right up and take they $500k right quick.

People are bitching that these guys and gals will walk if they don't continue to get a ton of money--now at our expense. So I say, fine. Let 'em walk. Thin out the herd. Let's get some young talent in there who is willing to work for that pay and will rebuild these companies. The unemployment rate is near 10% so I'm sure we could find plenty of people to fill those jobs who couldn't do much worse than the guys and gals in there now.

In the end this is about tax payer dollars--it's our money and we have a say in how things are run. I'll be o.k. to let my tax dollars pay for their bonuses and higher salaries if they pay for a trip around the world for me when they are financially profitable again. Its' called good old fashioned payback--bitch.

---End of Transmission---


TRUTH101 said...

Your post is to concise HBW. I have nothing to add.

Kvatch said...

$500K huh? Not a lot of money? If so, can I get me a piece of that pittance?

carlae said...

Amenski! I think from here on out all incomes should be up for public knowledge. That alone might shame these people into seeing what WE already know. I have a lot of friends and I don't know anyone who makes 500K a year. I sure don't

Handsome B. Wonderful said...




Yeah I'd trade salaries with them.


I have a lot of friends too and none of them make that kind of money. These Wall-Street types are so out of touch with the rest of the country. They are sociopaths who don't have any conscience.

A sociopath can not see fault in themselves nor have emotion when they are using people as victims. Such as in taking our money to reward their mistakes.