Regarding Wall Street:
1. Why is there no provision for restitution of the obscene salaries taken by officers of the failed banks and brokerage firms?
2. These securities, CDOs, etc. were deemed “risky”. Why is that now that they have failed, the consequences of the risk does not fall on those who engineered these bogus instruments…instead it is falling on the taxpayers? The firms should pay…the officers should pay, the traders should pay, and the bankers should pay before the government (taxpayer) should pay. And why hasn’t a single bank or brokerage firm offered its own assets, the limos, the executive dining rooms, the corporate jets, the office tower and other real-estate, as a partial miniscule down payment in mitigating this disaster?
3. Why, in the plans outlined today (Tues 9/23) there appears to be no provision for the taxpayers who are assuming these worthless securities, to participate in the REWARD that will presumably (well, maybe) accrue when the stock market goes back up? Again why is the RISK socialized while the reward has heretofore been privatized?
4. Why, throughout the discussion of the past couple of days, has there been no provision for those who were stupid or gullible enough to apply for and receive things like ‘no documentation mortgages”. Shouldn’t these people who were ruthlessly exploited by the banks get bailed out *before* the predatory lenders?
Just asking …