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Check out what I did with my tax money in December: Paid out $4 BILLION in bonuses to an executive team that literally drove the company out of business! WHEEE HAAAWWW!!!!
Merrill delivered bonuses before BofA deal(ft)
Merrill paid bonuses early as BofA deal closed- FT(reut)
Long and Short:
Our Government, Hallowed be thy name, had to provide $20 BILLION to help Bank of America acquire Merrill Lynch because we can't let Merrill Lynch fail. (Why you ask? Well, don't ask me! I have no clue why letting a bunch of retards that gambled away mountains of other people's wealth need to be rewarded for their actions. However, rest assured, it apparently isn't up to me... (Please, forgive me any retarded people reading this. I did not mean to compare you to bankers...))
So, why did BoA need an extra $20 BILLION to buy up its competition? (Yes, our government gets to cherry pick the winners and losers of this economic chaos.) Because the 4th quarter losses at Merrill were much larger than anticipated.
So, why were the 4th quarter losses at Merrill much larger than anticipated?
BECAUSE THE CEO, John Thain, DECIDED TO PAY THE ANNUAL BONUSES IN DECEMBER RATHER THAN THE USUAL TIME IN JANUARY!!!!!
So, why did John Thain decide to pay his annual bonuses early? Because it wasn't going to be his company anymore in January. *duh* Besides, he knew the cash was coming from the government...
I don't know about you, but in spite of being one of the few companies that grew in 2008, the CEO of my company decided to forgo bonuses altogether this year. It baffles me to see a CEO giving bonuses to the management team that drove a business into the ground...
*sigh*...
THIS is whyipaytaxes.
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4 comments:
My question is...
Why hasn't the populace of our country risen up and revolted against these practices?
Because we have become an apathetic country. If it doesn't harm us in an obvious and up-front way... Out of sight, out of mind.
I for one am glad I bank through a Credit Union. I don't trust these National Banks as far as...
Answer to Paul's Question:
Not enough people are unemployed yet. Give us time...we'll revolt and raid their houses! Tar & Feathering is in again I hear...
(I personally support the tree ornament or human wind chime technique but I have unresolved anger issues)
So I filled out my taxes...and discovered that while the gov. is getting a hefty amount up front (to use, collect interest on, help keep trust funds healthy, etc.) they are actually giving quite a lot back. Turns out being the "working poor" isn't all that bad. (yes, this was written with my fingerless gloves on :)
I got the whole working at the bottom end of the 'middle class' thing working against me. I was so looking forward to filing my taxes and getting a bill paid off, or paid down, maybe even buy myself something nice for a change.
As it turns out, I owe $44. And I claim 0 on my w4s.
Making too much to be considered poor, not making enough to not feel poor. Fun!
I'll bet this statement will never be read, but I saw in anon's post a statement I initially mis-read. But the mis-read was good:
Tax & Feathering.
Like a tar and feathering, but...
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