Wall Street is paying out recorded bonuses, courtesy of YOU the taxpayer. Yet where is the outrage?
Gerald Celente talks about ‘bonus madness’….
Text from youtube – While millions of Americans are unemployed and the national debt is soaring, it seems top financial executives are far from feeling the pinch. A recent Wall Street Journal survey estimates they’ll receive a staggering $144 billion dollars in compensation and benefits this year. This amount is equal to the U.S. stimulus package approved by Congress in 2008. Trend forecaster Gerald Celente says Americans are failing to react to the payouts, because the financiers’ fanbase in the mainstream media is distracting public opinion.
Taiwanese animators seem to have a firm grasp on what is going on here in the U.S.:
Pretty sad when the people in Taiwan understand the outright theft of the American people better than we do.
Don’t forget what Bill Black has been making very clear the past few weeks – The payouts are based on fictional FASB accounting, leading to fictional profits, and billions in bonuses for bank executives running the scam.
Covering up the losses had three real (carefully unstated) purposes: (1) permitting evasions of the PCA [Prompt Corrective Action law], (2) allowing the banks to remove themselves from the strictures of the TARP program even if they are, in reality, insolvent, and (3) allowing insolvent and impaired banks to pay their senior executives huge bonuses on the basis of the (fictional) income that results when a bank does not recognize its losses.
How long will the American people allow their money and their way of life to be stolen by the bankers? How long will the American people allow Congress to permit this to continue?