Bail-Out Bonuses

[JD]

I just read in the news where 10%, roughly $70 billion dollars of the $700 billion in bail out money is being paid out to wall street execs in bonuses. How can that not be a crime?

Let's say that 1% of the entire population, (children, elderly, poverty stricken and working class) and we all know that isn't even close to the actual number, but if it were, they would be receiving $23,000 each. If it were one in a thousand, which you know that figure would also be way too high, these clowns getting bonuses would be getting $22,9100 each! If I had to guess, I would say maybe 2000 people are getting in on that $70 billion dollar bonus money. If that were the case, then the people that helped orchestrate this financial ruin will receive $35,000,000 each. That is 35 million! This is just averaging out the numbers. I figure a few of them will get a million or so and the rest will get a measly hundred grand or whatever.

OK, before you get as fuming mad as I am, keep in mind, I am not a statitician. I am not even that good with math. But I have a speadsheet program. So here is the way I figured it. I know that these are generalizations that are not fine tuned, but fine tuning would only make the numbers worse. Not everyone who could pay taxes will. And yes, the tax payers breathing air tonight will not pay off the bail out. We probably won't even pay off the bonus money as our govt spends more. Our kids, our kids kids, their kids and so on will pay this debt. But the $70 billion bonus money, that will be paid out now to individuals. At least their kids and kid'd kids should be able to afford to pay their share taxes, right? Anyways, here's my math. If anyone is into fine tuning and correcting, please do. I know I must be wrong somewhere, because even an idiot can see this just ain't right.

by JD Ashby


BONUS PAYMENT SECTION

$70,000,000,000.00_____bonuses to wall streeters

305,547,938_______US population as of Oct 31, 2008


3,055,479_________If 1%, one out of 100 people getting in on the bonus action
$22,909.66 _______ Paid each on average

305,548__________If 1/10th of 1%, one out of 1000 people getting in on the bonus action
$229,096.62_______Paid each on average

2,000_____________if 2000 people (.0007%) are getting a piece of the bonus pie
$35,000,000.00_____Paid each on average



BONUS GETTING PAID FOR SECTION

305,547,938_____people in the US

230,383,145_____minus 24.60% children not paying taxes
201,354,869_____minus12.60% not producing income (physical, mental reasons)
177,192,285_____there is 88% in working poor to upper class working left to pay the bill (excludes below poverty level)

$395.05________owed for wall street bonuses for each viable tax payer, including the millions that lost home value or homes

$3,950.51_______owed by each tax viable tax payer for entire bail out


Sources

News Article Bonus Article, Mark Lennihan, AP
Today's population Population Clock
Demographics Wikipedia, Demographics

[Greg]

Cheer up, pandora's box has been opened!!! It can only get worse. Greg

[Dirty White Boy]

Don't forget that the first bailout bombed, and the only way they got it passed this time was by adding sweeteners for those that opposed it the first time...

and that 20% went right to Project Acorn. You know, the group that caused most of this problem by affirmative action. Forcing banks to give loans to people that couldn't afford them in inner cities in the first place. Suing loan offices and such...

[Yanita]

Hi,

Just wanted you to know that it was I that edited your post. This is a great subject for debate, but not for bashing either political party.

Thanks, Yanita

[Greg S]

JD

Keep in mind those wall street execs. that created this mess are the same ones that are needed to fix it (or there boys club replacements).
If you don't grease the right wheel you can not hope to fix the problem and fixing a big problem requires a lot of grease.
Although from our view this sounds like a lot of money poorly spent the view from the top is entirely different.

Money talks.

[Harry]

Yep

And more bail-out programs are on the way.

Two rules come to mind.

1. Those at the top make the big bucks and the decisions they make are toward that end.

2. The Golden Rule - the guy with the gold makes the rule.

Just my thoughts.

Harry

[Greg]

I strongly feel that ANY bonus should be based on performance, since THEIR company is in trouble they obviously didn't perform well, so NO BONUS, no stock options!!! You loose, good day sir! Greg

[oldfart]

Hmmmm..as I recall the initial Bail-Out Program was 3 pages long. Congress intervened and thought about it some more and the final draft encompassed over 400 pages of ear-marks, pork and downright bribes. Of course they passed this with accolades of triumph and said "This'll fix it!" And we should be surprised by this? Why? The polititions answer to any problem is to throw huge sums of taxpayers money at it. If that doesn't work..throw more taxpayers money at it. If that fails...blame the other party/side. Then throw more taxpayers money at it.....ad-nauseum. Folks..our system of government is not just flawed..it is headed for a day of reckoning. The first rule of polititions is... "make sure the laws do not apply to us!" And so what is the answer? When companys stumble and begin to fail...let them. Don't bail them out. A stronger and better served company will take their place. If someone can't pay their mortgage..they lose their home. Tough. You probably couldn't afford it in the first place. Next time buy something you can afford. My daughter just lost her home....hard-cheese for her...Dad ain't paying the mortgage on a $250,000 home with 3500sq.ft. of space while he gets by in a 600sq.ft. home built back in 1970. Learn to live within' your means. Can't afford to pay yer credit-card bills? Here's a simple solution..stop buying stuff you don't need on credit! Learn to work and save to buy what you need...and stop looking to me to bail yer +++ out every time you get in over yer head. And the idea that yer a minority holds no sway for me. I owe no debts from over 250yrs. ago. My folks were Yankees...much as I'm ashamed to admit. Audie..still clinging to my guns and religion in Pa.!

[Harry]

Yo Audie

You and I think alike.

Hold on to your hat …more stimuli/rescue/bailouts are on the way all of which will be paid by the taxpayers of today and the future.

Harry

[Greg S]

Ah yes!

What ever happened to the good old days of debtors prison.

That would help curb the overuse by modern society of easy credit.

[Harry]

Yep

AIG just got a bailout and they are still doing resort events.

Auto makers want one too.

Stay tuned...

Harry

[Jim from Canada]

Sheesh, if bonuses were really based on performance maybe these execs. who made this mess should get their salaries clawed back! The "big 3" auto makers are all saying they will be in a bankrupt position next year. You can be sure that the rich will not suffer at all and will, in fact, profit from all this. To heck with debtors prison, shoot these theives!

Jim

[Greg S]

Watch the ripple effect from the auto makers.
They will force the unionized worker to take major cuts which will then filter down to all sectors especially non unionized workers.
The little guy will have his standard of living reduced across north America.
Then when auto sales take off again in 3-5 years the manufactures will rake in the profits while the working class gets left further behind.

Now I know many may say that unionized workers are over compensated but they actually set a bench mark that all wages are measured by. Whether unionized wages go up or down all employers are forced to parallel the wages for there non unionized workers from Macjobs to blue & white collar of all descriptions.
It's how the food chain works.

[Dirty White Boy]

Have you heard the latest ?

After the bailout, as many of you know, AIG executives I guess were overstreesed and had to decompress. So they relaxed by celebrating our stupidity. They spent $440,000 of our cash to visit a luxury retreat in California. What’s worse, they added to the insult by blowing $23,000 on what they insisted were spa expenses. Spa expenses? WTF?


“Earlier today, I ordered the immediate cancellation of all outside meetings, conferences and recognition events across AIG, except those that are required by law or that are deemed absolutely critical to sustain our ongoing business needs,” AIG Chief Executive Officer Edward Liddy stated. “We recognize the need to be sensitive about all company expenditures.”

But after the Liddy statement, other AIG executives, who were probably jealous that they didn’t get the hot stones, decided upon another form of relaxation. So a group of them went on a weekend partridge hunt—not to kill American partridges but to kill the wily English partridge, with our cash, for $86,000.

The Ye Olde English Partridge Hunt included private jets, fine wines, roasted breast of pigeon and limousines to and from the country manor. Let’s assume there were fresh flowers, big Cuban cigars in the drawing room and servants, who ran out to the hunters with silver cups of hot rum punch...


Yea...so much for the bailout. Oh yea, why isn't our goverment doing anything about this? Remember how in the bailout they were supposed to buy out all the overdue mortgages? Well they have decided to buy stocks in the banks instead...

[Yanita]

LOL,

I heard on the news last night that since they are buying stocks in the banks that makes us tax payers stock holders in these very banks...have you received your stock certificates yet...I haven't.

Yanita