Wall Street readies 7 and 8 figure bonuses. Average Goldman employee to get $595,000. They take taxpayer money to stay in business after their own recklessness exposed them to ruin, they get 100% back on their bad bets, including AIG bets, then rake in billions using taxpayer-provided free money and congratulate themselves on their genius and throw themselves a party at our expense. I m not a populist and I am a supporter of the free market and capitalism but I’m pissed as hell – imagine the reaction of those who don’t share my enthusiasm for the present system. Eighteen months ago I thought we should let these bastards crumble and see whether something better took their place. I am convinced now that I was right.
Even some industry veterans warn that such paydays could further tarnish the financial industry’s sullied reputation. John S. Reed, a founder of Citigroup, said Wall Street would not fully regain the public’s trust until banks scaled back bonuses for good — something that, to many, seems a distant prospect.
“There is nothing I’ve seen that gives me the slightest feeling that these people have learned anything from the crisis,” Mr. Reed said. “They just don’t get it. They are off in a different world.”
What really infuriates me is that these greedy, grasping morons are inviting a populist backlash that will wreck our economy and they’re just too arrogant to understand that or care.