No s…, Sherlock

A readers asks if it’s true that Wall Street contributed more to Obama than to McCaine. Indeed it is, and I’ll update this post with an appropriate link later today. In the meantime, here’s a hilarious article from today’s New York Times describing the outrage on the Street at Obama’s threat to attack their bonuses. The poor dupes are shocked he would even consider such a thing and they all come to the same spluttering conclusion: “Why he’s nothing but a … but a Socialist!”. These wizards not only managed to wreck the entire world’s financial system, they’re complete political naifs who thought that they could pay off the wolf. I’d say they deserve what they’re about to receive (or have taken away) but what about the rest of us?

11 Comments

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11 responses to “No s…, Sherlock

  1. OGRCC

    What I think wall street workers don’t comprehend yet is that going to their work is akin to walking into a casino or a racetrack….

    It’s impossible to always win. Just ask Bernie Madoff.

  2. anonymous

    Gotta love the inter- and intra-class warfare games

    Uppity community organizers biting the hands of “Gulfstream socialist” donors/fundraisers

    Really amusing when some “rich” guys talk about other rich guys not being worth what they earned (at least as judged by the mkt), blah-blah

  3. anonymous

    So socialism is ok when your firm needs TARP funds from the government but not when it’s time to hand out bonuses?

  4. Paco

    Thanks for digging up these nuggets. Great linked article from the NYT: “The way we pay our taxes is bonuses.”

    Obviously people just need to think of bonuses earned by employees of money-losing or bankrupt companies as “economic stimulus”.

  5. greenmtnpunter

    The piece in the NY post had these Wall St wannabes whining that they work 60-80 hours a week and they damn well deserve these bonuses. Such a sense of entitlement doesn’t go down well for the many hard working Americans who work just as many hours but don’t receive big fat bonuses. Don’t these Wall St guys realize that working 60-80 hours a week and producing the fiasco they did does not deserve a bonus! What planet doe these guys live on?! There are no guarantees of anything in this world! You rolled the dice- and lost- so welcome to the club.

  6. Anonymous

    Whatever! Wall St wants to privatize profits and nationalize losses! I’ve grown tired of the double speak and hypocrisy of the right. Republicans are trying to play tough on the TARP bailout. Obama should call their bluff and declare on Monday morning that the Govt will stop all attempts to bailout the banks. Let the free market work!! Let them fail!!

    Then what CF? Would that be enough for you? If that day happens then you can kiss your ass goodbye as well as Greenwich and the tri-state economy. Idiot.

  7. christopherfountain

    If, Anonymous, all the well educated, hard working people in the tri-state area need the government to take money from other people, give it them to subsidize their life styles and tell them how to run their businesses and their lives, then we’re doomed.

    But I do agree with you – Monday (hell today’s not too soon) Obama should announce that the government is getting out of the bailout business, cutting the capital gains tax to zero, scraping our tax system with its giveaways and substituting a flat tax of 15% – we’d be off like a rocket. Great idea – hope you’re writing your Congressman to suggest it.

  8. Red

    I always find it amusing when the bankers & traders in Greenwich, and their oh-so-entitled spouses, use “I work long stressful hours” or “I have business school loans to pay off” as a defense for their obscene bonus paychecks.

    Then they turn around and treat better-educated , equally hard-working medical doctors, dentists, and attorneys like peons and waitstaff because “they aren’t worth as much as we are”. Teachers & PhDs are viewed as the ultimate losers — and heaven help any mere schoolteacher who might keep their little Buckley from getting into Harvard someday!

    The next few years will present an interesting change of climate in this town. Looking forward to it.

  9. kidding really?

    All those bonuses are spent in various ways… houses, schools, stores, restaurants, cars, charities – imagine the jobs lost, local and state tax revenue that drops off suddenly when bonuses are cut? Take away the bonuses and see what happens to the local economy. Even the better educated folks who Red calls losers will be without jobs. Not a great picture any way you look at it…

  10. OGRCC

    my favorite is this one:

    “People come here because they want to work hard and get paid a lot for working hard,”

    I am looking forward to a change in the Greenwich climate as well. Time to flush the toilet. People that just want to make a lot of money without regard to ethics should just form their own crime syndicate. I mean really, what is the difference between organized crime and finance…?

  11. pulled up in OG

    OGRCC asks “the difference between organized crime and finance…?”

    Banker + gangster = bankster (cute, but too tame in my book)

    “coined . . . by an American immigrant, a fiery Sicilian-born [imagine that] lawyer by the name of Ferdinand Pecora. He was the chief counsel to the US Senate Committee on Banking set up in the early 30s to probe the origins of the Crash of 1929.”

    http://news.bbc.co.uk/2/hi/uk_news/magazine/7861397.stm

    Scroll down for a good story on Amadeo Peter Giannini, the 1906 earthquake, and the good, old Bank of America.