Question: Let’s say that you are the CEO of a well-established Investment Bank and that your BONUS for the year 2007 was 22 Million Dollars. What are the chances that said Investment Bank will file for Bankruptcy protection a couple of months later? Lehman Brothers did just that. Must be nice to work in the financial sector. Much of Wall Street’s “earnings” seem to be elaborate Ponzi schemes that fail after the principals enrich themselves sufficiently. Guess who will have to pay up and prevent the total collapse of the banking and insurance business…you and me with our tax money. Our socialist Government will bail out Investment banks and Insurance companies but will not help the family that is about to loose their home due to foreclosure. You see, the U.S. is practicing corporate socialism, privatizing earnings and socializing risks. Nice going. In the final analysis, it is your tax money that will pay for these Ponzi CEO’s and high-paid swindlers. What a system!
Speaking of funny business:
This post in Newsweek by Dahlia Lithwick about putting Sarah Palin on the Supreme Court is hilariously funny and true at the same time. Many of the commentators take this piece at face value and start debating Ms. Palin’s qualifications, etc. Some comments rival the article in terms of (unintended) humor.
