Tuesday, February 23, 2010
Consumer Confidence dropped? But *why*...
Could it be those 5000 folks finally read the news, that millions of jobs are gone for good? That double-digit unemployment could last three to five years?? That even a robust recovery could be short-lived??? Gee, I wonder why they're not confident in the economy...
RICH GET RICHER
From CNN Money Feb 23rd:
Bonuses paid to financial services workers in New York jumped 17% to $20.3 billion in 2009, the same year that Wall Street firms received billions in federal aid, according to a report published Tuesday.
The report, from New York State Comptroller Thomas DiNapoli, estimates that industry profits could exceed $55 billion for last year. That would be nearly >>>three times greater than the previous all-time record<<<, but comes after the industry lost a record $42.6 billion in 2008.
DiNapoli said the financial services industry is "vital" to New York's economy, but he acknowledged the massive bonuses are a "bitter pill" for most Americans.
"There's a lot of resentment against the industry over its role in the global economic meltdown," DiNapoli said in a statement. "Taxpayers bailed them out, and now they're back making money while many New York families are still struggling to make ends meet."
This is BS.
Bonuses paid to financial services workers in New York jumped 17% to $20.3 billion in 2009, the same year that Wall Street firms received billions in federal aid, according to a report published Tuesday.
The report, from New York State Comptroller Thomas DiNapoli, estimates that industry profits could exceed $55 billion for last year. That would be nearly >>>three times greater than the previous all-time record<<<, but comes after the industry lost a record $42.6 billion in 2008.
DiNapoli said the financial services industry is "vital" to New York's economy, but he acknowledged the massive bonuses are a "bitter pill" for most Americans.
"There's a lot of resentment against the industry over its role in the global economic meltdown," DiNapoli said in a statement. "Taxpayers bailed them out, and now they're back making money while many New York families are still struggling to make ends meet."
This is BS.
Monday, February 22, 2010
SPEAKING OF "THEM" look at this spit!
General Motors chairman and chief executive, Ed Whitacre, Jr. will receive a compensation package worth $9 million, the automaker said Friday.
Taxpayers pull the auto companies out of the shedder, and they pay the boss $9M.
Taxpayers pull the auto companies out of the shedder, and they pay the boss $9M.
BANKS SUCK!
What can you say for someone who would hold your cash and pay you 1% to 3% interest, then lend that same money out at 15-30%! Would you say this is a good deal? A fair deal??
from CNN Money:
In 2007, the top 12 card issuers earned a combined $19 billion from credit cards, according to The Nilson Report. A year later, amid the financial meltdown, profits for those companies fell more than 65 percent to $6.32 billion. The plunge was largely because defaults ballooned as unemployment soared.
FICO Inc., the company best known for its credit scores, projects the average card will generate less than $100 a month in revenue within three years, down from $200 a month before the law.
That helps explain why the industry reacted so aggressively to the latest credit-card legislation.
SUPPORT CREDIT UNIONS and co-ops that use deposits to help borrowers, not gouge them!
from CNN Money:
In 2007, the top 12 card issuers earned a combined $19 billion from credit cards, according to The Nilson Report. A year later, amid the financial meltdown, profits for those companies fell more than 65 percent to $6.32 billion. The plunge was largely because defaults ballooned as unemployment soared.
FICO Inc., the company best known for its credit scores, projects the average card will generate less than $100 a month in revenue within three years, down from $200 a month before the law.
That helps explain why the industry reacted so aggressively to the latest credit-card legislation.
SUPPORT CREDIT UNIONS and co-ops that use deposits to help borrowers, not gouge them!
Financial Reality: US vs THEM!
I realized (at this old age!) that the world is not a happy playground-- never mind war (we got enuff), but the everyday world really is US vs THEM: the US includes yourself and those like-minded FOR THE SITUATION: your allies shift along with the enemy. But the obvious longterm conflict I see so clearly now is: BANKS and OIL COMPANIES vs middle class consumers ("US"). These guys really are trying to suck our wallets to fill theirs!
And it isn't just a demand-market thing (they got it, we need it, we buy it for their price)... it's freakin' PREDATORY. How can anyone justify working for a bank , credit-card company, or oil pumper/refiner knowing the harm they are doing to our economy? It's almost like the "good Germans" who supported the Nazis!
And it isn't just a demand-market thing (they got it, we need it, we buy it for their price)... it's freakin' PREDATORY. How can anyone justify working for a bank , credit-card company, or oil pumper/refiner knowing the harm they are doing to our economy? It's almost like the "good Germans" who supported the Nazis!
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