“The fact that they’re even in existence should be bonus enough,” says Cassie Swihart referring to the year end bonus contemplations that is fore coming at many of the major banks. The circular argument comes about from the simple fact that people are not deserving of such masses bonus. It spurs greed and the desire for individuals to forgo thoughts global economic welfare for their own riches. Obama should not place direct regulation, 'rules' on bonus amounts as this is not socialism; however, without such rules bonus amounts will never shrink and they must stay at their 'market' outrageous levels. If one bank doesn't pay, another will and top star employees will just circle around. Whatever the future brings, one thing is certain and that is that more regulation is certainly necessary to avoid history from repeating itself.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aqFLia4_lsEk&pos=8
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This whole notion of free trade is phoney. We are becoming a nation of financial services companies All these companies do is recycle money. The result is no useful products and services are being produced or sold. The idea that the bedrock of the united states economy can be a country of bankers financial planners financial researchers dealing with numbers marketing consultents' lawyers is completly false. I could go on and on but I need not. The intangable economy of sorts must be replaced with a real economy that produces or provides useful products and services that are really needed. Otherwise we will end up with a few bright CPA's with master degrees siting behind desks making a good living and everybody else cleaning the carpeting and emptying the wast paper baskets. For 6 dollars an hour. Every parents vision of a good job for their their children is someone sitting in front of a computer at some bank. Whats wrong with this picture everything. I don't believe that the banksters are worth a penny especially after they almost brought down the entire american economy.
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