Why Do So Many DUers Love Wall Street Bonuses?

[MannyGoldstein]

My post on Wall Street's record $120 billion in bonuses this year got un-reced into the toilet:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=8710363&mesg_id=8710363">K&R For The Middle Class - Who Made This All Possible!!!

Maybe they don't think the middle class is getting screwed for this, or that Summers, Geithner, and Emanuel are complicit. Or maybe my writing sucks.

Heck if I know. I need a beer.

[babylonsister]

1. Why do you post flame bait? nt

[MannyGoldstein]

2. Help Me Out Here...

Why is that "flame bait"?

[babylonsister]

4. You're disparaging DUers and trying to attract attention to your previous

thread. Lame, Manny, even for you.

[MannyGoldstein]

6. I Suck

But I'm also puzzled.

[HamdenRice]

16. You are correct!

[joeycola]

24. No, you do not suck. I am seriously wondering also. I come here

for news and many times the news just sinks--and I miss it.

[Sebastian Doyle]

9. If DU'ers are defending Goldmine Sucks

they probably should be "disparaged".

It's no better than defending Al Qaeda. Actually, the Goldmine Sucks terrorists have done far more damage to this country.

[FreakinDJ]

11. Well Said - and very true

[CTyankee]

41. Damn straight. nt.

[Autumn]

3. I went and recommended it

for you.

[MannyGoldstein]

5. Thanks - But Any Toughts On The Problem With It?

Too sarcastic? People too unwilling to connect Summers et al with the bonuses? People don't want to feel like they're rubes? Too weird?

Your thoughts appreciated.

[Autumn]

7. I liked it , just the

right amount of sarcasm,funny and yet sadly enough,the "truth". Thats the way I see it. It was a good post.
Edited to add that I liked it so much I recommended this one too.

[DJ13]

10. I think the problem was the pom pom'ers think by mentioning Obama appointees

you somehow slighted Obama.

Of course, these people rightfully blamed Bush for his appointees, but thats the other side so it was fair game.

[jonnyblitz]

18. that's exactly it. nt

[Overseas]

46. Too obvious and thus a bit boring for me. Sorry.

I saw that and thought-- oh yeah, wowie zowie hot news flash-- Wall Street got huge bonuses. Goldman Sachs is running our treasury. We feel like idiots being ripped off by the billionaires. Big surprise.

Been there done that -- already upset about that. already talked about that. still want that situation to change. still want tough regulations on the whole finance sector.

[Blue-Jay]

8. You should start a thread about it.

[TreasonousBastard]

12. I don't love them, I just don't give a shit enough to start talking...

about them.

They traded stuff that has nothing to so with me. It wasn't my money, and they didn't affect me in the least. Did they make too much? Probably.

But so what? Lots of people make too much money and too many people who don't make too much are suckered into thinking that's a good thing and they should keep all of it.

So a guy with a good fastball makes 10 million a year, some bimbo who can hold a tune makes 30 million, and a guy who trades futures makes 100 million. I'm more affected by the high price of baseball and concert tickets than pork belly and currency trades.

Come up with an idea to even things out instead of whining, and maybe someone will care.

[MannyGoldstein]

20. They Traded And Paid Themselves With Your Money

Whether it's TARP, the AIG bailout, or the $13 Trillion in federal backing of junk assets (see #19), your tax money made it happen.

$13 trillion at risk so that bankers can make a killing.

[phleshdef]

25. Funny, my money still appears to be securely in tact in my bank account.

[sudopod]

32. You do understand why banks want you to deposit your money

don't you?

You do know what it means when a bank becomes insolvent, right?

[philly_bob]

13. UNREC because few DUers love Wall Street bonuses. n/t

[Dreamer Tatum]

14. Here is why I couldn't give a shit

It's because most Wall Street firms make money FROM TRADING, AND TRADING ONLY.

They make money because the biggest part of their business is simply taking a piece
of every trade they facilitate. And those trades aren't between Tom Joad and the lady
in the Dorothea Lange picture - they're between rich people and people who handle money
for rich people.

FURTHERMORE, you don't have to have an MBA from Harvard to be a trader. Some of the best
and most highly compensated traders are relatively uneducated pit bulls with a taste for
blood.

And to add color, Goldman (for one) paid the TARP funds back with interest.

That it why I mostly really don't give a crap about the bonuses.

[MannyGoldstein]

19. $13 Trillion Of Your Tax Dollars Have Been Used To Guaranty Junk Assets

That otherwise could only be borrowed against at enormous rates of interest. So we've enabled cheap money to gamble with, and much of that gambling is against the average citizen.

An entire year's GDP. That doen't bother you?

Will the Obama administration back *your* jumk assets?

[Dreamer Tatum]

26. Suppose that $13T number is correct

And suppose $100B in bonuses is also correct.

Then 100/13000 = .007. We're supposed to storm Wall Street with pitchforks and torches over 70 basis points? I'd rather be outraged over the other 99.003%, thanks.

And it looks like you feel the same way.

[MannyGoldstein]

30. But The $13 Trillion Is At Risk - It's Backing Junk

The 100+ billion is awful on its face, but the bigger issue is that the people making those bonuses have little risk when playing games because of our $13 trillion in guarantees.

[Dreamer Tatum]

33. I'll buy that.

I am more in favor or restructuring Wall Street pay so it comes over the longer term...it creates an incentive to do profitable things, rather than hone in on the big score.

[mkultra]

45. it not actually

Its backing several things of which a small portion includes the purchase of CDO and MSBs.

Heres the list

http://money.cnn.com/news/storysupplement/economy/bailouttracker/

[mkultra]

31. "borrow against"

Guarantee money isn't rounded up and locked in a chest just in case.

[MannyGoldstein]

35. So We Don't Owe It If The Banks Default?

Whew! That's A Relief.

So, will you do me a no-risk favor? Please guarantee a loan I'm taking out so I can go to Vegas and win big!

Thanks!

[mkultra]

36. You bet. As long as you certifiy that your an integral part of the economy

And that i get to control how much of your payouts you get to keep and how much i get in interest for the garuntee, i think we can work something out.

[MannyGoldstein]

38. Same Deal As The Banks Get, Of Course

You keep nothing I earn, and no interest.

Thanks again. I knew you'd come through for me.

[mkultra]

44. or to state correctly

I got to keep an amount equivalent to the dividends payed out and i get to sell the investment back at an inflated rate later.

try to keep up manny.

[Name removed]

15. Deleted message

Message removed by moderator. Click here to review the message board rules.

[elocs]

17. So, how many are "so many DUers"?

Personally, I think it is pathetic when someone starts a new thread to whine about the UnRecs their previous thread received because the real point of this OP is to complain about the UnRecs.

[BzaDem]

21. K & U.

There is a difference between liking Wall Street bonuses and believing that Obama's economic team is complicit.

[bertman]

39. But only if you're unwilling to admit the correlation between the players and the actions.

[ashling]

22. Threads that complain about being "unrec'd"

or the unreccommend function . . .

should be "unrec'd"

[stray cat]

23. You are confusing your ego and desire for recs with peoples opinions -

In other words whining and trying to be a victim and accusing others of fake beliefs (on par with Fox news). Just because DUers don't spend their days waiting for another mundane post to rec has no bearing on anyones opinion.

[Romulox]

27. "General Discussion: Center/Right". nt

[Jim Sagle]

28. I don't know. But we all know that any DUer who does is a worthless piece of shit.

Don't let them shut you down.

[dionysus]

29. no ones like wall street bonuses, or your flamebait either for that matter.

:shrug:

[MannyGoldstein]

37. Actually, There's Plenty Of Evidence That DUers Are OK With The Bonuses

It's right here in this thread if you read the thing. Couldn't be clearer.

As to my "flame bait" - I continue to not understand why my posts are flame bait. I suspect they just push outside your comfort zone, but I'd appreciate an unambiguous analysis if you have one.

[sofa king]

34. Interesting. A trend toward moderation.

Not politically, of course, but a moderation in discourse being applied through the use of the recommendation tool.

That makes it a nifty tool, indeed!

It makes me wonder if perhaps DU might benefit from a flame forum. But who wants to moderate that? I do!

[CK_John]

40. The human animal hates "change"; good, bad or indifferent. This is change that's all. n/t

[Waiting For Everyman]

42. K&R I say it's "Stockholm Syndrome" n/t

[Occam Bandage]

43. Know what I love most about unrec?

The whiny-ass "why am I not validated" threads.

[Aramchek]

47. You're probably correct about your writing....