Thursday, December 10, 2009

So we CAN get our money back?

Remember when we were paying bonuses to the same people who destroyed the economy? Remember when Tim Geithner and Larry Summers told us how it made them very mad, but they just couldn't do anything about it because it would rupture the universe or something?
"We are a country of law. There are contracts. The government cannot just abrogate contracts. Every legal step possible to limit those bonuses is being taken by Secretary Geithner and by the Federal Reserve system."
Right. Then explain this:
A new "super-tax" on bank bonuses will be introduced immediately, the chancellor announced today, in an attempt to stop banks using profits to pay large bonuses to bankers.

Alistair Darling attempted to appease critics who feared the tax on bonuses would prompt defections from the City by insisting the 50% tax rate on bonuses of more than £25,000 would be paid by the banks rather than employees.

The one-off "bank payroll tax" will only raise £550m and is perceived as a fresh attack on the City following the bank bailouts last year, which the National Audit Office has calculated are costing £850bn.

The charge will cover bonuses awarded between 9 December 2009 and 5 April next year.

Darling said: "There are some banks who still believe their priority is to pay substantial bonuses to some already highly paid staff." He added: "Their priority should be to rebuild their financial strength and increase their lending. So I am giving them a choice. They can use their profits to build up their capital base. But if they insist on paying substantial rewards, I am determined to claw money back for the taxpayer."
The administration could have clawed our money back, but chose not to. Not only did they not try, but they actively fought against congressional efforts to do so.

And in country that still has a Queen, someone named "Alistair" is standing up to his nation's elites while our leaders shield them from any repercussions.

Sweet Jesus.

1 comment:

  1. you forgot that most american nutcases would include england in the pan-euro socialist bloc that has consumed the previously stalwart europe of yesteryear. even the germans cant be arsed to try to conquer the world anymore, nowadays they just sit around and sing the praises of Claude Henri de Rouvroy