Bailout being rejected, thoughts?

iVillage Member
Registered: 04-29-2003
Bailout being rejected, thoughts?
164
Mon, 09-29-2008 - 3:35pm

Hi –


 


The bailout being rejected is not a good thing, it affects EVERYONE.  Banks have no money, we have no money (generally speaking).


 


I was speaking with a co-worker that said the Democrats insisted the Parachute Clause be put into the plan otherwise they’d vote against it (keeping Exec’s from these millions of dollars) so that is why the Republican’s majority anyhow rejected it.  They are so greedy and now they have cut their nose to spite their face.


 


Thoughts everyone?


 


SP


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iVillage Member
Registered: 03-26-2003
Wed, 10-01-2008 - 1:52am
I saw this yesterday. I really wish I knew more about accounting and finance, but this sounds bad.
iVillage Member
Registered: 03-26-2003
Wed, 10-01-2008 - 2:08am
May I ask what you do, in a general way? If too personal, please disregard.
iVillage Member
Registered: 03-26-2003
Wed, 10-01-2008 - 2:10am
Not as I understood it. The plan allowed for limiting FUTURE compensation under certain specific circumstances.
iVillage Member
Registered: 08-13-2008
Wed, 10-01-2008 - 7:00am

Seems like a very selective list, born of convenience in a political debate. I'd guess there are Democrats and Republicans alike who played some role along the way.


Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

iVillage Member
Registered: 08-13-2008
Wed, 10-01-2008 - 7:01am
If they wish to gain the support of their constituents, limiting under such a circumstance would be very popular. Oh, and moving jobs overseas would be another no bonus element.

Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

iVillage Member
Registered: 07-25-2006
Wed, 10-01-2008 - 7:40am

Okay, now be condescending to me and tell me why the lack of a bailout on Monday


iVillage Member
Registered: 08-20-2008
Wed, 10-01-2008 - 7:44am

"Think of the major companies... do you seriously believe that out of 300 million, this is all the talent we can come up with?"

Not sure what your point is. You don't just find CEOs and CFOs on street corners. But even if there were replacements for everyone, my point is that whoever they are, they are human. Would you address my point? Do you think they all went bad at once over the past 8 years - seems kind of improbable. What changed? The regulatory framework. The Republicans tore it all down across all the industries with terrible results everywhere, not just the financial sector.

As for everyone's desire for heads on a scalp, many heads already have been scalped at some of our largest financial institutions: Wamu, Indymac, Lehman, Wachovia, AIG (management changed), Merrill (man changed), Bear (man changed) and others.

So we can all cut off our noses to spite our faces and tear down our financial system, or our government can take measures to stave off what could be the next Great Depression.

iVillage Member
Registered: 08-20-2008
Wed, 10-01-2008 - 7:46am

"By the way, there have been huge changes in banking from the time we bought our first home in 1984, and it really started to go nuts in the early 2000s."

Sorry, just read this after my prior post. ITA. Where were the regulators when these mortgage brokers went around pushing unaffordable home loans like drug pushers? It wasn't the wrapper, it was the drug inside that was the problem. And to make matters worse the regulators raised the leverage levels for financial services companies.

iVillage Member
Registered: 07-25-2006
Wed, 10-01-2008 - 7:46am
Golden Parachutes, NO!

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