Monday, March 30, 2009

Reading at the Huffington Post

Where the house of cards built by Wall Street is continuing to fold, collapse and the people who are responsible are getting a second look by the Obama Administration. Apparently the Pension Benefit Guarantee Corporation which gets its guarantee from the government invested $64 billion into stocks just months before the market collapsed. So that entity that failed airlines and other corporations sent their employees retirements to has now taken a big hit since that guaranteed money is not there. It just gets more and more amusing. And all the while, the people at the top continue to try and save the investors, not the nickel and dime investors, we're talking about the multi-million and multi-billion dollar investors. Oh, and if that's not enough to make your skin bubble, Wagoneer formerly the CEO of GM has a $20 million golden parachute that will be paid over 5 years. His retirement package. I guess that money is going to come from us, part of the loan package GM is getting.

I'm telling you. These people need to get real. Get a real job, one where you are responsible for people and if you fail, you go to jail for a long time like us lowly people who work for a living.

No comments:

Post a Comment