obama watch

WASHINGTON -- President Barack Obama issued a withering critique Thursday of Wall Street corporate behavior, calling it "the height of irresponsibility" for employees to be paid more than $18 billion in bonuses last year while their crumbling financial sector received a bailout from taxpayers. "It is shameful," Obama said from the Oval Office. "And part of what we're going to need is for the folks on Wall Street who are asking for help to show some restraint, and show some discipline, and show some sense of responsibility."

a couple of things here.....it's dangerous when you generalize, i learnt that in grade school. I am not sure whom the President is referring to when he speaks to "Wall Street" . My geuss is he is referring to the handful of Banks that will be / are receiving the Tarp Funds, not the majority of individuals in the securities trading industry. Secondly ...Bonus.....like bailout...it's a misleading moniker tossed around by the lazy media who can't waste their time to go into an in depth explanation, so they attach a catchy adjective to sum it up. The Neanderthal phenomunum...I can't read, so someone tell what's happening , and make it quick...it is what gave birth to talk radio, the height of laziness, I don't have a worthwhile thought in my brain so i tune into the radio to hear other people discuss what's happening in the world for me...
Bonus is actually deferred compensation outlined at the the beginning of the year. So in other words if your contract states you make X , you really receive 75% of X in a monthly stipend and the remaining 25% in a lump sum at year end. Not much different than the Union contracts that state you earn X an hour ....or X 1/2 if it's holiday in the ukraine, or X times 2 if it's a weekend , or you get the point.

to summarize, when times are tough we should show some restraint or sense or responsibility and give back some of your deferred compensation. SOOOOO using that same logic, if a techer reports to school everyday but at the end of the year little Sasha still can't do long division , that teacher should surrender some pay.....and if the city workers bust their ass all year , but the City is in an operating deficit, they should show some restraint and give it back....or suppose you accept a salary as a Senator and spend the Year traveling the country soliciting votes for a promotion ,. missing all of your senatorial votes, certainly you would give back that salary . So if we can take this president at his word, that's two things to look forward to... Empowering the States to Govern Themselves and financial accountability for "ALL" sectors of the workforce...., I hope this 30 second rant by Obama is indicative of his Presidency and not a nifty sound bite that suits just this situation.....spread the wealth, change is coming.

I work for a private Company , we receive no Federal assistance, my deferred compensation "is" tied to Company profits, my bonus which was outlined in Dec 2007 , was slashed significantly due to no fault of my own.......I purchased my Bar with part of my bonus.....and all I can say is you have not seen "the height of irresponsibility" until you have been at last call at Club Gato.

and NO ....I ain't givin it back.......car 54 where are you ?