Well class, here we go again!!! Shortly after President Obama assumed office, the public was informed the the “bankers” and “wall street” boys were at it again! Please consider the following:
1. These individuals received a “whopping” $140,000.000.000 in bonuses……$10,000,000,000 more than the $130,000,000,000 in bonuses received the year before!.
2. “Wall Street”ws giving out these record bonuses as “Main Street”was still on the verge of calapse!
3. Tax-Payers’ Money: As a result of the “bailout” wall street had access to our money to be used without adequate constraints, restrictions, or penalties.
4. According to the media, we are out of the recession, consumer confidence is up, and investors are starting to see acceptable returns on their investments……thus, in part, providing impetus for the awarding of these exorbitant bonuses.
5. However: Unemployment is still up high, Mortgage Foreclosures are still up! Productivity is still down! Balance of Trade is negative! Consumer Saving is down!, etc.
What are your thoughts/opinions?!
Here are a few questions or “food for thought” to get you started:
1. What does this discussion have to do with this course and you personally?
2. Did our government “over-sight” agencies drop the ball?!
3. Are these individuals “high performers” and deserve such exorbitant amounts of money for a job well-done? These are the same people who wrecked the economy?
4. Has the definition of Capitalism changed? Does “New Capitalism” give these individuals the right to extract as much as they can from the economy without consequence.
5. Does our economic system encourage and legalize greed.? Is this acceptable?
Once again, the aforemention is just to get you started, feel free to expand!
6. What are the Solutions?