Government Bailout... - Chicagoland Sportbikes
Chicagoland Sportbikes
 
Open Forum This forum is for all off-topic discussion.

 
LinkBack Thread Tools Display Modes
post #1 of 13 (permalink) Old 10-28-2008, 08:13 AM Thread Starter
Registered User
 
redhdgrl's Avatar
 
Join Date: Jun 2008
Location: Under the Palm Trees, toes in the sand
Posts: 1,375
Location: Under the Palm Trees, toes in the sand
Sportbike: .
Years Riding: .
How you found us: .
           
Government Bailout...

A few things online this am... I still say give the $$ back to the people who need it most.... TAX PAYING CONSUMERS!

Wall Streeters Can Still Expect Big Bonuses
When the government agreed to bail out Wall Street, the goal was to provide funds to shore up banks' capital bases so they would start lending again. It wasn't to help them fund the bonus pool. But estimates run that as much as $70 billion will get paid out in bonuses to Wall Streeters this year. That amount equals 10% of the $700 billion bailout

AIG sent salespeople on a lavish luxury retreat at the same time it was getting billions in government aid. The retreat at the St. Regis resort in Monarch Beach, Calif., cost AIG $440,000 and came right after it received a $123 billion line of credit. Even worse, it planned another lavish retreat soon after. But when the press caught wind of that one, it was soon cancelled.

Some of Lehman's top executives got signing bonuses to stay at the banks that acquired their divisions in bankruptcy proceedings. The Financial Times reported that Nomura, which bought Lehman's European and Asian divisions, gave bankers cash equal to last year's bonus if they agreed to stay at Nomura for a year, for example. Given massive firings on Wall Street, were those pay-outs really necessary?

Shouldn't Banks Use the Money to Help the Economy?
Nope. It turns out that banks can use the money however they want. Banks that are getting government bailout money are contemplating using it for other things -- like buying other banks -- not adding it to the lending pool so they can make more loans and end the credit squeeze. Next up, insurance and car companies may get to tap into the funds.

Lawyers Are Big Winners in All This?
Wall Street law firms are getting a bonanza of billable hours from the government bailout. Not only are they representing firms in contract negotiations that come as part of the bank bailout, but they are also helping firms that are now in trouble with regulators. There are few sectors that are making hay from this crisis, but law firms that represent investment banks are one of them.

The right way is not always the popular and easy way. Standing for right when it is unpopular is a true test of moral character

Looking for a German Shepherd? PM me
redhdgrl is offline  
Sponsored Links
Advertisement
 
post #2 of 13 (permalink) Old 10-28-2008, 08:17 AM
Irony helps us play!
 
Arch's Avatar
 
Join Date: Jan 2006
Location: N'ville
Posts: 29,510
Location: N'ville
Sportbike: 2000 F4
Years Riding: Long enough to know better
How you found us: some hot MILF whispered it in my ear
           
Sec of Treasurer has 0 accountability and no one can trump his decision on how/where to spend it. He has to 'advise' congress within 90 days of doing something.... but they have no say whatsoever in any decisions made.

Trust him.. he knows what's best for us... This is the Market policing itself.

Everyone Exaggerates

We're being taken for a ride... agaaaaaaain.....


Best Auto/Moto Insurance | Motorcycle Protection Today | FREE Trade-In Quote
Arch is offline  
post #3 of 13 (permalink) Old 10-28-2008, 08:18 AM
Serious inquiries only
 
Mort82's Avatar
 
Join Date: May 2007
Location: Never-Neverland
Posts: 13,776
Location: Never-Neverland
Sportbike: Specialized Allez Comp; Gkotlin's SV650
Years Riding: Always learning
How you found us: Google
           
Send a message via AIM to Mort82
These people need to re-read the story of Robin Hood.
Mort82 is offline  
post #4 of 13 (permalink) Old 10-28-2008, 08:19 AM
Registered User
 
Meulen's Avatar
 
Join Date: May 2002
Location: Romeoville
Posts: 19,186
Location: Romeoville
Sportbike: looking to get dirty!
Years Riding: long time
How you found us: SBN
           
why is an investment called a bailout these days? I don't get it

Brian (F.K.A. Crazy)

Gamertag: CRAZY403


“You can’t escape the responsibility of tomorrow by evading it today.”

-Abraham Lincoln


“Blessed are the young, for they shall inherit the national debt.”

-Herbert Hoover
Meulen is offline  
post #5 of 13 (permalink) Old 10-28-2008, 08:21 AM
Irony helps us play!
 
Arch's Avatar
 
Join Date: Jan 2006
Location: N'ville
Posts: 29,510
Location: N'ville
Sportbike: 2000 F4
Years Riding: Long enough to know better
How you found us: some hot MILF whispered it in my ear
           
Quote:
Originally Posted by Mort82 View Post
These people need to re-read the story of Robin Hood.
RobinHood in Reverse.

That'll put those lowly peasants in their place once and for all.

Everyone Exaggerates

We're being taken for a ride... agaaaaaaain.....


Best Auto/Moto Insurance | Motorcycle Protection Today | FREE Trade-In Quote
Arch is offline  
post #6 of 13 (permalink) Old 10-28-2008, 08:43 AM
Registered User
 
GIZMO's Avatar
 
Join Date: Sep 2008
Location: Chicago
Posts: 1,600
Location: Chicago
Sportbike: 2008 Suzuki GSX R600
Years Riding: Long enough to know that stupid hurts.
How you found us: shawnb114 invited me on a cruise and I was hooked.
           
Send a message via AIM to GIZMO
On another note I could have sworn that the government buying up assets was a kin to communism.

You wanna see my itinerary?
GIZMO is offline  
post #7 of 13 (permalink) Old 10-28-2008, 09:51 AM
Go Hawks!
 
CHI1000RR's Avatar
 
Join Date: Mar 2005
Location: Plainfield
Posts: 3,541
Location: Plainfield
Sportbike: 1000RR (Sold) Looking
Years Riding: Long time but few miles
How you found us: I saw CLSB tatooed on some porn star's ass
           
In AIG's defense, the retreat was paid for well in advance.

Jaime Dimon (CEO of Chase) choose to give retention bonuses to ensure the transaction went smooth and to retain talent. This is common is many acquisitions and no government money was used to aid Bear Sterns. That is why they are no longer, Chase picked them up for pennies of their book value. Hell, their headquarters in New York and other RE are worth more than Chase initially paid ($2 per share).

Same thing with Lehman and Merrill but TARP or the bailout plan was used for none of them. This is the confusion with people and Investment banks.




"I am Jack's smirking revenge.."

Last edited by CHI1000RR; 10-28-2008 at 09:54 AM.
CHI1000RR is offline  
post #8 of 13 (permalink) Old 10-28-2008, 10:19 AM
Administrator
 
HDTony's Avatar
 
Join Date: Apr 2002
Location: Plainfield IL
Posts: 45,956
Location: Plainfield IL
Sportbike: A couple of pasta rockets
Years Riding: Since 1989
How you found us: In the beginning there was CLSB and Tony saw that it was good.
           
Send a message via AIM to HDTony
I still would like to know where my bailout check is.




HDTony.... Damn glad to meet you!

Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

- Ronald Reagan

AirTek Heating & Air inc.
HDTony is offline  
post #9 of 13 (permalink) Old 10-28-2008, 10:28 AM
Viva La Figa!!
 
Downforce137's Avatar
 
Join Date: May 2004
Location: In Diana
Posts: 6,215
Location: In Diana
Sportbike: negative.
Years Riding: long enough to know better.
How you found us: cycleforums.com
           
Send a message via AIM to Downforce137
Quote:
Originally Posted by HDTony View Post
I still would like to know where my bailout check is.
ME TOO!! i got bills to pay
Downforce137 is offline  
post #10 of 13 (permalink) Old 10-28-2008, 10:32 AM
Registered User
 
iamnotgreg's Avatar
 
Join Date: Jun 2003
Location: Chicago
Posts: 12,529
Location: Chicago
Sportbike: 2003 Aprilia Mille R Colin Edwards / 01-02 Ninj ZX6r Tracktoy / 2003 SV650
Years Riding: 12
How you found us: some guy at the IBM credit union told me about it
           
Quote:
Originally Posted by Meulen View Post
why is an investment called a bailout these days? I don't get it
What should it be called when the govt decides to take everyones tax money.. Spend it against most of their will on "buying stock" in companies that nobody else will buy.. in an effort to get everyone else to follow and buy some too.. while/or giving "sub prime" loans to these struggling companies that turn around and spend it on 8 figure bonuses for the asshats up top that are at least partially to blame for all of this? Ever help out one of the bosses pick another ferrari for his collection, while the same day you had to delete a dozen good peoples lan accounts as they were being laid off (yes... after 9/11.. my firm cut 50% staff.. froze salaries for all but ass partners and above.. and no bonuses for anyone but ass partners and above... all the while giving themselves much larger than normal bonuses.. While everyone lower than them (read "the retards") were sticking it out and sacrificing out of some misdirected loyalty to the firm.

I know that is not the complete picture.. but is that not going on?

Didn't PNC just take the govt "investment" and buy National City for dimes on dollars?
Is that what the "bailout" was? Govt sponsored consolidation and bargain shopping?
iamnotgreg is offline  
post #11 of 13 (permalink) Old 10-28-2008, 10:40 AM
Registered User
 
Super Dave's Avatar
 
Join Date: Oct 2002
Location: WI
Posts: 875
Location: WI
Sportbike: XB12R, H1, TTR125
Years Riding: I still have some money left...
How you found us: old member
           
Quote:
Originally Posted by HDTony View Post
I still would like to know where my bailout check is.
At this point, I don't see it coming. But I think I'm going to go buy some firearms before next Tuesday.

"Super" Dave Rosno

Team Visionsports Racing
Super Dave's Race Against Childhood Cancer
Super Dave is offline  
post #12 of 13 (permalink) Old 10-28-2008, 12:08 PM
Grid Marshall.
 
Cerk's Avatar
 
Join Date: Mar 2005
Location: Naperville
Posts: 29,343
Location: Naperville
Sportbike: Tweener
Years Riding: Do I have to start over now?
How you found us: Followed the Bread Crumbs...
           
Send a message via AIM to Cerk
People completely misunderstand the premise this particular industry functions on.

Tom

Quote:
Originally Posted by Tacitus
In a state where corruption abounds, laws must be very numerous.
Cerk is offline  
post #13 of 13 (permalink) Old 10-28-2008, 12:16 PM
Registered User
 
iamnotgreg's Avatar
 
Join Date: Jun 2003
Location: Chicago
Posts: 12,529
Location: Chicago
Sportbike: 2003 Aprilia Mille R Colin Edwards / 01-02 Ninj ZX6r Tracktoy / 2003 SV650
Years Riding: 12
How you found us: some guy at the IBM credit union told me about it
           
Quote:
Originally Posted by CerkMX View Post
People completely misunderstand the premise this particular industry functions on.
maybe so
maybe they understand that we are all so in bed together..
When they fail.. we all fail..
I think the people for the most part are unhappy that their fate is tied in with the rich fatcats fate...
nobody cares if the little guy fails... often the rich fat cat *profits* when the little guys fail...
but when the richie riches of the world fail.. they take the little guys down...
so... now they are taking everyones money.. rich.. poor.. middle.. and giving it to the richie rich fat cats on wall street.. so they wont fail...

and i think the poor with any kind of handle on their finances .. are looking at it.. and for the most part see the situation for what it is...

idiots spending more than they make.. and living on credit cards.. running up more debt.. they cant afford to pay.. because.. they need to get money from somewhere...

figuratively speaking.. and oversimplified.. and only describing certain segments of the bailout/us govt financial situation...

hope my daughter either likes it somewhere else in the world.. or enjoys paying for the sins of her parents and grandparents... one or the other

and if you want to look at it like an investment
I have 2 negative points of view there as well.
1: Hello Socialism/Communism
2: Great Depression... The US Govt should not be "playing" the stock market... even if they can make "a billion dollars"

Last edited by iamnotgreg; 10-28-2008 at 12:22 PM.
iamnotgreg is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Chicagoland Sportbikes forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome