Thursday, January 29, 2009

Wall Street Still Doesn't Get It


Apparently the financial crises do not really matter to Wall Street. The great investment banks of American no longer care if they make a profit because if they fail or go bankrupt the American people will be there to bail them out. At least that's the attitude they show. Even in the worst economic downturn since the Great Depression (Hint: it's called Great for a reason)Wall Street Execs are still giving out substantial bonuses packages and the former head of Merrill Lynch redecorated his office for 1.2 million dollars. It appears that the bankruptcy of Lehman Brothers has not scared these corporation enough and they are still not taking responsibility for their actions. Many are criticizing new Treasury Secretary Geithner for letting Lehman fail, but apparently he and the government should have let a couple more banks fail before the proposing a bailout. President Obama is correct, it is very shameful for these giants of industry to hand out handsome packages while the American people suffer in this time. They have shown no solidarity with America, deserve no more of the American peoples aid, and should face the wrath of the free market.

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