Ratigan To Senator Merkley: "How About A Bankers' Bonus Tax"
Video: Ratigan Reality Check On Shaming The Banks -- Aired December 14, 2009
Fixing financial reform - Ratigan discusses President Barack Obama’s frustrations with “fat cat bankers on Wall Street.”
Video: Dylan Ratigan with Sen. Jeff Merkley (D-OR) on financial reform legislation (Dodd's proposal) -- Aired December 14, 2009
Are big banks still exhibiting bad behavior? New analysis by the Wall Street Journal shows Goldman Sachs was fueling AIG’s bad mortgage bets and played a bigger role in the insurance company’s risky gambling than previously disclosed. Sen. Jeff Merkley, D-Ore., discusses.
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Dec 14, 2009 at 4:05 PM
Reader Comments (11)
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These TARP banks have all had incredible stock runs, wildly successful secondary offerings, and now they want to pay back TARP so they can keep their big, fat bonus checks. I, for one, am wondering who these idiots were.....
....meanwhile we have absolutely NO IDEA what's on the Fed's balance sheet, or where all the money from the sale of US treasuries is going.
Am I the only one who suspects we've been "paid back" with our own money?
And it's not even a "theory" anymore, really, because the Fed has been buying MBS like crazy. I just can't imagine that they're buying them at a discount. And who are they buying them from?
Aside from the Fed, however, it's possible that institutionall investors are buying the banks because they expect a further run-up in this idiot rally, especially as TARP gets paid back (sort of). At some point, they'll dump this stuff on UBS clients or the idiot uber-bull mutual fund managers. Count on it.
On the other hand, who was buying the banks back in March-April? Options traders? When I first saw the Jeff Macke meltdown clip, I assumed it was 'shrooms or acid (seriously), but now I'm pretty sure he just couldn't take the madness anymore. The March lows just didn't seem like a real capitulation-type event. It seemed more like Looney Tunes when they put on the "air brakes" and the crashing plane stops in mid air.
meanwhile they can huge bonuses this year, but can't raise the capital for 3 years...what a crock of bullshit...
http://dailybail.com/home/off-balance-sheet-nightmares-set-to-begin-costing-banks-shei.html
wrote about it last week...there's some good info there...
it was right after lunch...i think he had a few cocktails and then became too cryptic to understand...
still waiting for Makce to give an interview and explain it himself...
Gobias...this is the jeff macke clip...
Instead of addressing pension problems escalating out of control, Pittsburgh Sets Vote on Adding Tax on Tuition.
The mayor of Pittsburgh calls it the “Fair Share Tax.” But to officials at the city’s 10 colleges and universities and many of their 100,000 students, it is anything but.
On Wednesday, the City Council is expected to give preliminary approval to Mayor Luke Ravenstahl’s proposal for a 1 percent tuition tax on students attending college in Pittsburgh, which he says will raise $16.2 million in annual revenue that is needed to pay pensions for retired city employees.
The tax would be the first of its kind in the nation, and other cities are watching closely as they try to find ways to close their own budget gaps.
“City officials see this as an untapped revenue source, and if Pittsburgh succeeds, I think you will see a lot of other cities immediately move to do the same,” said Terry Hartle of the American Council on Education, a lobbying group for universities. He added that if the Pittsburgh City Council approves the mayor’s proposal, the matter will surely go to the courts.
Taxman
Let me tell you how it will be,
There’s one for you, nineteen for me,
‘Cause I’m the Taxman
If you drive a car, I’ll tax the street,
If you try to sit, I’ll tax your seat,
If you get too cold, I’ll tax the heat,
If you take a walk, I’ll tax your feet.