Re: VZ to start charging surcharge for credit card use

On 9/23/2010 9:29 AM, Carl wrote:
George wrote:


We've agreed on all points you've made but this one. I was, and still am, a
person in favor of bailing out the financial industry. Had we allowed them
to fail, the loss of jobs at the lower levels and the backlash to other
businesses who relied on those employed people as customers would have been
enormous and potentially unrecoverable from. My own business, for example,
has a lot of those employees as clients for their healthcare. Allowing them
to fail would not have hurt the relatively small number of elite as it would
have hurt the large number of lower echelon workers and the people they buy
from. Where's the justice in that?


Actually it would have been the best thing that could have happened to them. It has been two years since the government helped out their owners. Pretty much no one has any trust or confidence in anyone associated with the financial sector for very good reason. That is because the very same pirates still have jobs at the same pirate companies.

It would have been the natural course to let those pirate businesses fail. That way they would have learned a lesson and folks could go on and get another job at a more honest company. And the public would have the satisfaction of seeing the rotting carcasses of the pirate companies that screwed them.



What was missing from the bailout were government demands (in writing and
signed as a formal agreement) that NO bonuses could be given out to ANY
board of directors or officers until the company showed an actual PROFIT.
All bonuses should have been required to have been frozen, period. I still
don't 'get' the idea that people can get bonuses for running a business into
a loss??? Can someone explain that to me?



Too much micromanagement and too much room for interpretation. They should have been left to fail and a law similar to what was repealed in Glass-Stegall should have been reinstated so super-mega banks and brokerages simply couldn't reform.
.

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