You Betcha! Bonuses.....

banster 1 imagesGoldman Sachs may reduce CEO Lloyd Blankfein’s bonus because of the uproar over the reported $100 million he is set to get, according to a Wall Street consultant says. Meanwhile, the compensation of the CEO of the world's largest bank - much bigger than Blankfein's Goldman Sachs - was a total of just $263,000 last year.  Period.  Why?  Because it's the Commerce and Industry Bank of China, a country where the banks are tightly regulated utilities whose job is to handle and protect people's money and make loans available to consumers and businesses.  Before Reagan, it was pretty much that way here in the US, too, but when he stopped enforcing the Sherman Act, allowing huge banking mega-mergers, and Republicans and Clinton blew up banks basic functions in 1999 and 2000 turning them into casinos, things rather changed here.  Blankfein's purported $100 million bonus would be a shocking, pornographic embarrassment in Sweden or Norway or Denmark - countries that are far from Communist Dictatorships like China.  Good banking practices, it seems, are just good banking practices.  And we should re-adopt them here and put an end to the looting of America by the banksters.

In Strange News....Sarah Palin is calling on President Obama to fire his chief of staff Rahm Emanuel for using the phrase “f—ing retarded” in a meeting with liberal allies. Writing on Facebook, Palin said, “Rahm’s slur on all God’s children with cognitive and developmental disabilities – and the people who love them – is unacceptable, and it’s heartbreaking.”  Ah so - Sarah Palin has become a liberal proponent of the rights of the disabled?  No, not really.  Just a cheap political shot.


john (not verified) 13 years 6 weeks ago

I need to get my grubby hands on the study that says that incomes catch up to tax increases on wage earners in 1 to 3 years. Thom has mentioned it several times, and last time used Denmark as an example. It also appears here:

"Over time (typically one to three years) his wages will rise enough to compensate for the lost income."

I need the academic support for that statement. Thank you very much. Link or Bibliographic information will do.

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