Bailed out bank execs get bonuses at: http://money.aol.com/news/articles/_a/bbdp/bailed-out-banks-execs-got-16-billion/283923
Bank execs keep corporate jets at:http://news.yahoo.com/s/ap/20081221/ap_on_bi_ge/meltdown_corporate_jets
Soap Box Ravings sees two major points that relate to these stories. The first point would be, were did the three major automakers go wrong since they seem to be straddled with all kinds of restrictions tied to any money they expect to receive and secondly the professional jealousy of the Washington politician as the bankers either hoard or use for executive bonuses the money they received for bailout.
Either way, the American taxpayer finds themselves firmly in the BOHICA position.
While Soap Box Ravings feels the bailouts were improper and will cause many more problems over a longer time, he also feels similar rules should have been applied to banks as were applied to the three major auto makers.
The bailout to me is the same as life support for a brain dead individual. It only holds off the funeral. And while that may be good to allow relatives to gather and to prepare for any possible transplant of organs, Soap Box Ravings does not believe there will be any preparation for the future by our politicians when the patient finally expires. The agony will have just lasted for a longer length of time and the financial costs will be much much greater.
