The parts weren't bad, the vehicles were. As long as those vehicles were perceived to have the full faith and credit of the Federal Government behind them, they were going to be overpriced. Again, Goldman wasn't one of the real culprits; they were actually pretty responsible. Like I said, be angry with the Government, not the investment banks. The Government repealed Glass-Steagall, the Government enacted the Community Reinvestment Act. The Government allowed FNMA and FHLMC to become a piggybank for house and senate campaigns. There were a lot of investment banks burned by these policies.
I am angry with the government. I think that firms should not be able to give bonuses until they have fully repaid their bailout amounts. Freeze on salaries. Where the fuck are the "oversights". yeah, more shit that paulsen is giving to his buddies at GS.
We'll agree to disagree. Of course, you could just make every partner's salary $6MM per year. That would solve the bonus problem.
freeze salaries. no bonuses. if they want to quit, then quit. until they pay the money back, freeze all of their assets.
