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I hate agreeing with both sides of an argument

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DFW Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-02-09 04:29 AM
Original message
I hate agreeing with both sides of an argument
http://www.nytimes.com/2009/08/02/business/02bonus.html?th&emc=th

This guy was probably part of the problem in the high oil prices of last year. He's obviously a brilliant trader and
market analyst, and knows how to profit from his talents.

On the other hand, if his current deal is for him to retain 5% of profits he generates, and the other 95% goes to repay
money lent by the taxpayers (that's us), and he's good at what he does, then I want that 95%, especially if it's 95% of
two billion dollars. The trouble is, that 5% is $100 million, and the guy is already anything but a poverty case, even
if his deal clearly states that he is entitled to his 5%. Of course, the share of the profits that he doesn't keep is
$1.9 billion, and even then, Uncle Sam gets back (theoretically, anyway) $33 million of the $100 million in income taxes.

The article sums up the dilemma perfectly:


"Still, the company is an awkward spot, and it is hard to say which is worse: the inevitable public outcry if Mr. Hall
is paid $100 million, or the risk that he might take his talents to a firm in which the public has no stake."

Now I know how the New York Yankees felt when they saw A-Rod's price tag.
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Why Syzygy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-02-09 05:10 AM
Response to Original message
1. It begs the question, however,
Edited on Sun Aug-02-09 05:10 AM by Why Syzygy
that since this guy is such a whiz and made so much money for his companies, why did they come with hand out to the American taxpayer? They made all those billions at our expense and then have nothing to show for it?

Where does the buck stop?
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RC Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-02-09 05:46 AM
Response to Reply #1
2. Buck? What buck? That is why they have their hand out.
These companies did not make as much profit in recent years as they had in the past because the economy tanked. Never mind they helped tank it. In their world, less profits is equal to an actual loss. That means less money is available on the all important bottom line for CEO and upper management salary increases. And horrors of horrors, less is money is available for the bonuses they need to survive financially from month to month. The hoi polloi have no idea how expensive maids, butlers, gardeners, McMansions, yachts, family jets, etc. are these days. Where else are they supposed to go, besides the American tax payer to make up for this loss?
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timeforpeace Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-02-09 11:49 AM
Response to Reply #1
5. Blame the government official(s) who gave him this deal and who likely gets a kickback. Corruption
Edited on Sun Aug-02-09 11:50 AM by timeforpeace
is still with us.
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notesdev Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-02-09 06:02 AM
Response to Original message
3. The guy is a PIRATE
This guy makes his living by taking your money and using it to make the things you need every day (like gasoline and heating oil) more expensive.

There is ZERO - none, nada, zip - actual production - things people can consume, use, eat, or touch - that comes about as a result of this man's "work". If this country were half sane his job wouldn't exist, except perhaps listed under 'Class A felony'.

These people belong on the end of a rope, not on the pay-to line of a check.
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Why Syzygy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-02-09 06:17 AM
Response to Reply #3
4. Exactly.
Edited on Sun Aug-02-09 06:19 AM by Why Syzygy
Somewhere along the way capitalism turned into de-capitalism.

While we were paying more than $4.00 at the pump last year, and poor people froze to death and died from the heat, this guy had tankers full of oil floating out at sea! How the F is that "American"? He and those like him have American blood on their hands. They need to get over the shock of pay the piper due date. Now.
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