Goldman Sachs' profit = more bonus payouts?????

You gotta be fucking kidding me.

In the July 12, 2009 New York Times article, "A Swift Return to Lofty Profits", it was reported that Goldman Sachs estimates a $3.44 billion in second quarter earnings, and is preparing its largest bonus payout in history.

David Paul writes in The Huffington Post that perhaps Goldman Sack-of-Shit should be content with tripling its stock value and forego the bonuses. I think pretty much most of America would agree.

The New York Times stated, "Analysts estimate that the bank will set aside enough money to pay a total of $18 billion in compensation and benefits this year to its 28,000 employees, or more than $600,000 an employee. Don't forget, GS was compelled to accept billions of dollars in federal aid, which it paid back last month." Goldman declined to comment over the weekend, pending its Tuesday earnings report.

Has my mad cow disease progressed further than I thought or didn't this country just go through a hubbub over bonuses and overpaid corporate fat cats? Mark my words - the U.S government and the American tax payers helped to keep GS aflloat and instead of opting to not pay bonuses as a sort of "gesture", GS is gonna pay those bonuses. Corporate America bastards.

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"Misread" or 'incomplete information"? You pick.

VP Biden: "We misread how bad the economy was..."

Pres. Obama: "No, no, no, no, no,"...Rather than say 'misread,' we had incomplete information."

So then this most recent stimulus package was configured on "incomplete information"?

President Obama just recently put his initials on a new $15 billion food security program intended to assist poorer countries in their food production. The emergency supplemental appropriations bill that was signed a couple weeks ago spends billions overseas. We seem to have an endless supply of money to dole out overseas, yet our unemployment rate is rising and the economy isn't on an upslide.

And there's talk that OUR COUNTRY may need another stimulus package. Where's that money coming from? Doesn't this strike a chord with any of you out there? California is so broke it wants to hand IOU's to state taxpayers and so is the City of Los Angeles and yet LA found $1.4 - $4 million to spend on Michael Jackson's memorial service.

Why are there's so many of you acting like nothing's happening? Is anyone taking this seriously?

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150 years is a looooong time, Bernie.

Scumbag crook Bernard Madoff was sentenced today, receiving the max - 150 years. May you rot in hell. How do I really feel? Read here.

By the way, here's another crime - Madoff's lawyers only wanted their client to get 12 years in prison. That request should also be a crime. Fucking attorneys (no disrepect to any attorney I know - Jay, Linda).

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"Soy un perdedor!"

"Soy un perdedor,

I'm a loser baby so why don't you kill me,

double barrel buckshot,

Soy un perdedor,

I'm a loser baby so why don't you kill me..."

- Beck, "Loser", 1994

The dicks are running amok in the world these days. Bernard Madoff. Sir Allen Stanford. Add John Thain to the list - if you already haven't. He even looks like a dick.

Thain was the last chairman and chief executive officer of Merrill Lynch before its merger with Bank of America at the end of last year.

Merrill paid out $4 billion in bonuses to Merrill Lynch employees last December, a month earlier than it did in past years and just before the deal with Bank of America closed. This despite nearly collapsing and posting $15.3 billion in 4th-quarter losses.

Get this: Before the 4th quarter loss was posted and once Merrill had merged with Bank of America, Thain suggested to the board of directors that he receive a bonus in 2008 of as much as $10 million, because he "saved Merrill" by selling it off to Bank of America. After the compensation committee at Merrill resisted the request, Thain reportedly dropped his request on December 8, 2008...

...and dishes out $4 billion in bonuses. Nice boss, eh? Guys like him, Stanford and Madoff? Screwing people in the ass. Fucking prick.

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American public - step up and take some blame.

I heard a sound bite yesterday on NPR - Barrack Obama was speaking about the pros and cons of the government's recent bailout bill efforts. He was concerned with who's going to help the America families affected by this crisis - those who may lose their homes. John McCain may very well have responded the same way. No matter - the point of this post is not about political candidates.

The point of this post is that I won't shed any tears for those people affected by this financial debacle. Sorry, but I can't.

If blame can be laid at the feet of our government and its politicians, as well as Wall Street and the mortgage companies who dealt in these unfavorable loans, one has to blame the families who made a pact with the devil - the devil being the mortgage companies.

No one twisted their arms to sign on the dotted line. They weren't pushed or cajoled into getting in over their heads. Why should they be helped? They got in over their heads. They bit off more than they could chew. There is no entitlement to own a home, or own a better home than you already have. You earn that. I'm sure my parents would love a bigger home, but they live in a $130,000 appraised Cape Code that they can afford. And I certainly would like to be living somewhere other than where I'm living at now, but I know what my financial limitations are and I live with it.

But thousands of families couldn't live with it. So they signed with the devil for loans they could never have afforded to begin with. Now the shit has hit the fan.

And I'm supposed to feel sorry for these people? Is there anyone out there who - right now - feels sorry for Fannie Mae or Freddie Mac? No. It's all about taking responsibility.

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