House votes to clamp limits on bonuses

[G G]

[Starscream]

Originally Posted by uptown_isy

Once the government decides how much money one can make in the banking industry, where will it stop? It's a slippery slope, for sure, and it just opens the way for the government to regulate the pay in other industries, as well. Personally, I don't own a yacht....but I have no problems with those that do. If I could afford one, I'd have one. Just my opinion.

Originally Posted by The Poet

So would I, and I'd invite you and Andy for a cruise. As for government regulation - well, they tried to let the finance industry regulate itself, and you can see where that got them, and all the rest of us. It did not work. If they don't like the idea, then tough $#!+, since they asked for it.

Avarice is one of the Seven Deadly Sins, not a proper business model.

Self-regulation wasn't the problem in the finance industry. It was the loans and mortgages that the banks were forced to give (b/c Clinton, Frank, and Dodd thought that people who had no or bad credit needed to have the ability to take out humongous loans w/o the ability to pay them back) that put the finance industry where it is today. That's why Fannie Mae and Freddy Mac were the first to go (they were forced to buy up all of these loans that...
well that's another issue in and of itself).


I will take you up on that cruise offer when you get your boat! Sounds like a good place to herf!

[Starscream]

Originally Posted by ggainey

I aint gonna let this get me into an argument, so I am gonna say one more thing and then not come back to it. But the banking situation would not be in the shape it's in if the regulations for loans wouldn't have been lowered by the Clinton administration, and not to try to make this into Clinton's fault, but they did lower the regs, but there was ample time after that to corrrect it by others and it wasn't corrected. So I don't think the blame can be laid on the finance industry. My two cents. I'm done.

That's what I was talking about in my previous post.

Originally Posted by The Poet

Yeah, me too Greg. That's the one good thing about having nothing - I've got nothing to lose, so I really have no dog in this fight anyway.

Love to all, brothers.

No love lost here. I've had fun debating the issue.

[The Poet]

Whats wrong with just letting the private sector fail???

Since the beginning of this country is been the back bone of its success. Those that work hard, succeed and those that don't, don't. While I have no hard facts to back up the following statement, I would be willing to bet anyone would be hard pressed to show me one government ran program that runs more efficiently than the private sector. There are examples of industry that boomed at one point and no longer exists. Why must government get involved to "Fix" it? Let them fail, something else will take its place. Keeping the new age bail outs separate from this, this is a step in the direction where government will have the ability to tell privately held business how it can compensate its employees . No matter if its a pizza hut employee or a fortune 500 company executive to me, its government poking its fingers in the private sector. At some point this country just needs to decide if it wants socialism or not and go one way or the other.

Chas

[macms]

Originally Posted by andysutherland

QFT?

QFT = Quoted For Truth

[Starscream]

Originally Posted by macms

QFT = Quoted For Truth

[Genetic Defect]

[Sauer Grapes]

Originally Posted by ggainey

I aint gonna let this get me into an argument, so I am gonna say one more thing and then not come back to it. But the banking situation would not be in the shape it's in if the regulations for loans wouldn't have been lowered by the Clinton administration, and not to try to make this into Clinton's fault, but they did lower the regs, but there was ample time after that to corrrect it by others and it wasn't corrected. So I don't think the blame can be laid on the finance industry. My two cents. I'm done.

Actually, most of those I know in the banking industry not only blame Clinton, but Bush as well. Clinton got everything started, Bush lowered the regs even further.

Just goes to further your point that more government regs is not the answer.

[rizzle]

Change we can believe in. Yee freaking haw.

I don't think we're in Kansas anymore Dorothy.

[WyoBob]

I think the House should clamp limits on "bozo's". You know, as in, themselves.

WyoBob

[Da Klugs]

One thing you never have to fear is that "Change" regarding our policy of no political threads is never gonna happen here.

Regards,
The oppressed 5%