Sunday, September 28, 2008

Bail Out, is that for everyone?

I guess I understand bailing out the banks. I mean if these institutions go down, that is a lot of jobs that will be lost, not too mention the FDIC doesn't have the funds to insure them all. So that would be a great deal of money lost by the consumers and the unemployment rate would continue to rise. So it does make sense. But here's what doesn't. Executives at failing companies walking away with millions of dollars in compensation. I was under the impression that if you fail, you don't get bonus money. You could argue that you should at least get severance pay, but 160 million? I am as capitalistic as the next guy but that seems a bit extreme (unless I am that executive, then I fully support the current system). It is a bit overwhelming to think about, as the cost is ultimately passed to the consumer (read you & me). Good to know my 28% is going to the right places.

On the bright side, I did get to miss the debate (instead of Friends, I watched 2 hours of 70's show reruns) and the Buckeyes won their Big Ten opener. Also USC lost, Georgia got killed and I still believe the SEC is a joke. They will get killed if the bowl games were up north.

1 comment:

Anonymous said...

Amen. The SEC or even the California teams would not do well if they played in the conditions that Big 10 teams played in during the last part of the season.