<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>social studies &#187; Wall Street bailout</title>
	<atom:link href="http://www.elainejohnson.net/tag/wall-street-bailout/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.elainejohnson.net</link>
	<description>a view of the world</description>
	<lastBuildDate>Tue, 17 Mar 2009 21:18:24 +0000</lastBuildDate>
	<language>en</language>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
	<generator>http://wordpress.org/?v=3.3.1</generator>
		<item>
		<title>Of bailouts and bonuses</title>
		<link>http://www.elainejohnson.net/2009/01/30/of-bailouts-and-bonuses/</link>
		<comments>http://www.elainejohnson.net/2009/01/30/of-bailouts-and-bonuses/#comments</comments>
		<pubDate>Sat, 31 Jan 2009 01:21:37 +0000</pubDate>
		<dc:creator>Elaine</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[TARP]]></category>
		<category><![CDATA[Wall Street bailout]]></category>

		<guid isPermaLink="false">http://www.elainejohnson.net/?p=42</guid>
		<description><![CDATA[My brother works in the Chicago office of a New York financial services firm, one of several that have received funds from the Big Bailout, a.k.a the Troubled Assets Recovery Program. For months he&#8217;s been increasingly downbeat about the nation&#8217;s economic outlook and about his job in asset management, the decisions for which have been [...]]]></description>
			<content:encoded><![CDATA[<p>My brother works in the Chicago office of a New York financial services firm, one of several that have received funds from the Big Bailout, a.k.a the Troubled Assets Recovery Program.</p>
<p>For months he&#8217;s been increasingly downbeat about the nation&#8217;s economic outlook and about his job in asset management, the decisions for which have been largely taken out of his hands and reassigned to some muckety-muck in New York.</p>
<p>So when I heard he was up for a job review, I held my breath. With heads rolling all over the country, his job security didn&#8217;t sound all that great. I frankly expected the worst.<span id="more-42"></span></p>
<p>I shouldn&#8217;t have worried. He not only got an acceptable review, he got a bonus.</p>
<p>A bonus, compliments of you, Mr. and Mrs. America and that nice, fat government welfare program, TARP.</p>
<p>And I hear he wasn&#8217;t alone. No,  Wall Street financial institutions generously granted some $18 billion in bonuses last year, no doubt after waiting for those desperately needed bailout checks to clear.</p>
<p>Call it hubris, call it shameful, as President Barack Obama did, or just sit there with your jaw hanging open in dumbfounded silence.</p>
<p>What part of &#8220;moral fiber&#8221; do these people not understand?</p>
<p>Of course, morality is so 20th century. Make that<em> early</em> 20th century. For a long time now, the maxims of our era have been somewhat less altruistic than those our country once embraced.</p>
<p>You snooze, you lose, Bozo. Get while the getting&#8217;s good. Look out for Number One. Greed is good.</p>
<p>The bottom line for these Wall Street sharks is: They got theirs. You didn&#8217;t. Ha, ha, sucker.</p>
<p>Here&#8217;s the irony. A lot of those folks &#8212; and my brother is among them &#8212; could talk all day long about the failures of Big Government and the fiasco that is the Welfare State.</p>
<p>As my brother &#8212; God love him &#8212; has told me more times than I can count: &#8220;More government is not the answer.&#8221;</p>
<p>Except, it seems,  when it comes to those annual bonus checks, which no financier in his/her right mind can envision living without.</p>
]]></content:encoded>
			<wfw:commentRss>http://www.elainejohnson.net/2009/01/30/of-bailouts-and-bonuses/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
	</channel>
</rss>

