Property Grunt

Friday, January 30, 2009

Roll Call: What the hell edition!

This isn't how the President feels. This is how the people feel.

Greetings folks, its Friday and time for another roll call. For my new readers it is just a selection of this week's stories along with my words of wit.

Yes, Wall Street is getting hammered but it seems like yesterday with all the bonus money being thrown around.

What Red Ink? Wall Street Paid Hefty Bonuses

That was the sixth-largest haul on record, according to a report released Wednesday by the New York State comptroller.

While the payouts paled next to the riches of recent years, Wall Street workers still took home about as much as they did in 2004, when the Dow Jones industrial average was flying above 10,000, on its way to a record high.
Some bankers took home millions last year even as their employers lost billion

This has not gone unnoticed by POTUS.

Obama Calls Wall Street Bonuses ‘Shameful’

“That is the height of irresponsibility,” Mr. Obama said angrily. “It is shameful, and part of what we’re going to need is for folks on Wall Street who are asking for help to show some restraint and show some discipline and show some sense of responsibility.

“The American people understand that we’ve got a big hole that we’ve got to dig ourselves out of, but they don’t like the idea that people are digging a bigger hole even as they’re being asked to fill it up,” Mr. Obama said, adding that “there will be time for them to make profits and there will be time for them to make bonuses. Now is not that time.”

What I want to know is tax money being used for bonuses?

Mr. DiNapoli’s report was compiled based on the annual December-January bonus season, mostly through personal income tax collections. In an interview published on Thursday, he said it was unclear if banks had used taxpayer money for bonuses.
“The issue of transparency is a significant one,” Mr. DiNapoli said in the interview, “and there needs to be an accounting about whether there was any taxpayer money used to pay bonuses or to pay for corporate jets or dividends or anything else.”

If I f**king hear another person say that bonuses are needed to keep talent from leaving I will f**king scream. No one is going to leave. There are no jobs out there. You can buy people with a crust of bread right now.

Just look at this Gawker link,

People are freaking the f**k out.

I pray that non TARP money was used for these bonuses, because if it comes out that was the case, there is going to be a revolt amongst the proletariat, correction, it won’t be a revolt, it will be a beatdown. And say goodbye to any chances for another bailout.

Isn’t this sad, Poor Bernie Madoff is having a hard time adjusting to house arrest

"I'm a prisoner in my own house!" Madoff fumed. "I can't go anywhere! I'm stuck here all day!"

You want to get to get out of the house? Be my guest. There are three hots and a cot waiting for you at Rikers. Unfortunately your safetly may not be guaranteed.

Of course Bernie is not alone. Apparently he has a lot of illegitimate offspring out there also cause there in their own ponzi scheme mess.

Troubled Times Bring Mini-Madoffs to Light

One of them was by a douchebag named Nicholas Cosmo who was running a ponzi scheme worth about $370 Million dollars.

What I find f**ked up is that first of all this guy was in the penn for securities fraud and one of the guys that worked for him was one of his cellmates who was in for dealing H.

This douche bag’s job was to find victims for his scheme which included 17 Marines serving in Iraq. Looks like Cosmo and his employees are going to learn very quickly that it is not a good idea to f**k with a Marine.

However, I think this is a clear example that when it comes to investing, due diligence is the order of the day.

Have an excellent Super Bowl folks!