So THIS is where tho corner is being turned?

Post #316,156 by mhuber 10/24/09 1:22:11 PM Reply	So THIS is where tho corner is being turned? With all the government intervention in the last year alone, THIS is where we get on a slippery slope towards a government controlled economy? Dude, we've been on that slope for decades if not centuries.
Post #316,157 by beepster 10/24/09 3:03:49 PM Reply	This is pretty blatant as have been most of the decisions made in the past 2 years. So yes...if there is a corner being turned...we're at it. Considering we've been a country for just over 2 centuries..might be a tad overzealous there, eh? I will choose a path that's clear. I will choose freewill.
Post #316,159 by Another Scott 10/24/09 3:30:30 PM Reply	Your rose colored glasses are pretty foggy. Compare what Feinberg did to what the UK has done with RBS. The UK owns 70% of RBS - http://www.thisismon..._id=2&expand=true Ealier today [10/21/2009] it emerged that Royal Bank of Scotland, bailed out with £20bn of taxpayers' money a year ago, has already amassed a pay bill, including salaries and bonuses, of almost £2bn for its 20,000 investment bankers Â a pot that could double by the year's end. A newspaper report said that RBS has hired dozens of City high-flyers on bumper no-strings-attached bonus deals, in defiance of its promises to rein in profligate pay. The Daily Telegraph claims that 11 bankers were poached from ailing Wall Street bank Merrill Lynch on estimated packages of £500,000 each. The reports come just hours after a firebrand speech from the Governor of the Bank of England calling for banks to be brought to heel. In his most outspoken attack yet on the banks, Mervyn King said it was no longer acceptable that UK lenders are allowed to engage in high-risk casino banking under the cover of a taxpayer guarantee. A separation of investment banking arms from retail operations may be the only way out of the current 'unworldly' situation where taxpayers have to pick up the tab when institutions get into trouble, said King. King's speech gave voice to mounting public anger over the 'back-to-business-as-usual' arrogance of banks that have benefited over the last year from £1.3 trillion in taxpayer support to rescue the financial system. And the CEBR figures will fuel the flames, particularly as the banks stand accused of rationing loans to businesses and consumers, while handing out huge pay deals. That RBS is at the heart of the bonus bonanza will be especially controversial, given that the Government holds a 70% stake in it. RBS declined to comment. If a substantial owner of a bank demands that management's salaries and bonuses be cut is a sign of creeping nationalization, then isn't a actually nationalized bank that increases management's salaries and bonuses after being bailed out a sign that you're imagining a corner when none is there? IOW, look at what is actually happening, stop watching Fox, and quit imagining slippery slopes! ;-) HTH. Cheers, Scott.
Post #316,171 by beepster 10/25/09 8:43:01 AM Reply	I don't watch them the president told me not too. And its not imagined. last I checked, fox guys were ok with this too. I will choose a path that's clear. I will choose freewill.
Post #316,169 by mhuber 10/25/09 4:20:27 AM Reply	No, I don't think I'm overzealous Well, maybe a little, two centuries is on the low end of "centuries". But it is really closer to three. The Colonial proto-governments were very interested in influencing the economy. The other players were the Crown and from the East India Company rather than American corporate interests, but that's just because the Crown and EIC had done a pretty good job of keeping American businesses from becoming important players. We started out on the slippery slope, if that's the metaphor you want to use. My reading of history suggests that the situation is more of an ongoing balancing act. This particular situation, I somewhat agree with you. I don't like this move. Getting a bit micro-managing. I'm more a "suck their brains out with a straw and sell the widows and orphans" guy, firing them outright would have been cleaner. And if China handles the next bailout directly, the one after that may involve taking them out and shooting them. But really, we aren't talking about Nixon's wage and price freeze here, we are talking about regulating one more item in an already heavily regulated situation where the government is already more involved than anybody likes. This isn't the start of anything.
Post #316,180 by drook 10/25/09 12:40:32 PM Reply	Just so I've got this straight ... "Keep your goddamned government hands off my fiat currency." Ref -- http://www.huffingto...nme_b_252326.html -- Drew
Post #316,183 by Another Scott 10/25/09 3:18:07 PM Reply	IRLRPD. LOUD NOISES!!! :-) Cheers, Scott.

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