"Inequality Must Be Tolerated"

[Me.]

"Inequality is good for prosperity" so sayeth Goldman Sachs as per MSNBC.

So I guess we here have been looking at this from the wrong perspective! Can't wait to see what KO does with this.

[derby378]

1. Context, please?

My boss won't let me watch the news at work...

[Me.]

2. Here You Go

Public must learn to 'tolerate the inequality' of bonuses, says Goldman Sachs vice-chairman

Bankers' soaring pay is an investment in the economy, Lord Griffiths tells public meeting on City morality

"One of the City's leading figures has suggested that inequality created by bankers' huge salaries is a price worth paying for greater prosperity.

In remarks that will fuel the row around excessive pay, Lord Griffiths, vice-chairman of Goldman Sachs International and a former adviser to Margaret Thatcher, said banks should not be ashamed of rewarding their staff.

Speaking to an audience at St Paul's Cathedral in London about morality in the marketplace last night, Griffiths said the British public should "tolerate the inequality as a way to achieve greater prosperity for all".

He added that he knew what inequality felt like after spending his childhood in a mining town in Wales. Both his grandfathers were miners who had to retire from work through injury.”…cont…

http://www.guardian.co.uk/business/2009/oct/21/executive-pay-bonuses-goldmansachs

[AndyA]

5. Arrogant pieces of crap.

They should all be terminated and prosecuted for the damage they've done to the economy. Their greed and irresponsibility almost shut down the world economy. You'd think there'd be some kind of PENALTY for that. But no, in their eyes they deserve their outrageous salaries.

WTF?

[Me.]

6. One Has To Wonder

How long this will go on before they finally do themselves in with their massive tin ear

[HughBeaumont]

14. Was it Kelly LeBrock or Brock Landers that said . . .

. . . "OOOOOH, just for THAT, I ought to give you a set of elephant balls!"

Rotten pigs.

[guitar man]

15. Ok, I've been resisting this kind of thinking

I've been reminding myself of the Nietzsche quote Be careful when you fight the monsters, lest you become one" over and over, but, when I read shit like this,my blood boils and I can't contain it any longer so I'll just say it. It's about time to mob up and drag these fuckers into the street and beat them within an inch of their lives. Enough is enough, their arrogance is astounding and their malicious greed has raped and robbed the common working folk in this country in ways they could never imagine. Now they call for "tolerance" of their robber baron ways? Fuck them!!!! :grr:

[EOTE]

20. +1. I'm sick of playing the pacifist.

These fuckers have such an insanely inflated view of their worth, it's sickening. Someone needs to take these assholes down from their ivory towers.

[guitar man]

21. Yes indeed

It says "We The People" not "We The Few Wealthy Aristocrats". They have managed to elevate themselves to ownership of the government that is supposed to be of the people, all the people. It's about time to take it back from them.

[RaleighNCDUer]

28. It makes ME want to invest in the market.

What company is it that manufactures tumbrels and guillotines?

[guitar man]

30. Hear Hear!!

And Louisville Sluggers!! :evilgrin:

[apnu]

18. Ah, the old "I'm richer than you, neener-neener-neener" argument (nt)

[Zoeisright]

27. Well, gee, how exactly has that worked out for us so far?

FAIL.

Paying these bloodsuckers millions of dollars for ruining the economy has helped get us into this mess in the first place.

That guy needs to be homeless with a cardboard box to live in as an object lesson. He wouldn't last a day.

[Barack_America]

35. His fucking name is LORD Griffiths?

And he's telling us to eat our cake and STFU?

Oh this going to be spectacular.

:rofl:

[surrealAmerican]

38. The problem being that those "bankers' huge salaries" ...

... are NOT creating "greater prosperity", they're crashing our economy. This idiot can't even see how much damage he and his cronies have done to our country. He thinks this is prosperity because HE'S getting a big bonus.

[fishwax]

39. Perhaps we should appropriate their assets and call it "an investment in the economy"

[Ozymanithrax]

3. For companies that did not get bailed out, I can tolerate inequalities.

But if they are doing it on my dime, they should all be collecting unemployment.

[Me.]

4. The Arrogance Is Stunning

It's the 'we don't give a damn' pr campaign.

[Ozymanithrax]

8. These people are vastly wealthy and will do anything to justify their wealth.

Inequalities exist in very political system. Members of the Politburo and high ranking military officers in the Soviet Union lived lives of wealth and privilege like rich and famous elsewhere. The poor were lucky to get their ration of vodka and a few potatoes.

The sad thing here is that these rich and wealthy people will get their bonuses and our government will do nothing about it. They all want to have money and tell the poor to screw themselves.

[Lucy Goosey]

7. Oh my god, talk about tone-deaf.

Seriously? Dude, now is not the time to be spouting shit like that, even if you believe it.

Honestly, does he think the poor and the shrinking middle class are just going to agree with him because he's a rich banker and he says so? Does he think we'll fail to notice that, as someone who's directly benefitting from inequality, he kind of has a financial stake in maintaining that equality? I think he's calling us stupid.

[AllentownJake]

9. These guys are great

They are like a walking billboard on why they shouldn't exist.

[Me.]

11. Exactly How Stupid Are They?

Really too much so to be such a force in the economy. In a time that dictates they lay low, they have decided to come out with guns blazing

[AllentownJake]

12. I just got done reading Too big to fail

These guys live in such a fantasy land that they honestly don't know any better.

[Me.]

23. I Predict

That, given their myopia, we will once again see them on their knees. When/If this occurs they should be on their own, fail if that's their only option aside from thinking they can belly up to the public trough again. Not one dime more.

[AllentownJake]

29. They will be back to Washington begging

sooner rather than later. There is no economic recovery going on right now. Once that becomes more apparent these guys are going to need another subsidy.

[Me.]

37. I'd Bet Money On It

But they better not get another dime. They can use their bonuses

[H2O Man]

10. Things like this

cause me to sing George Harrison's song "Piggies" to myself.

Recommended.

[Me.]

13. Good Call

"Have you seen the little piggies
Crawling in the dirt
And for all the little piggies
Life is getting worse
Always having dirt to play around in.

Have you seen the bigger piggies
In their starched white shirts
You will find the bigger piggies
Stirring up the dirt
Always have clean shirts to play around in.

In their sties with all their backing
They don't care what goes on around
In their eyes there's something lacking
What they need's a damn good whacking.

Everywhere there's lots of piggies
Living piggy lives
You can see them out for dinner
With their piggy wives
Clutching forks and knives to eat their bacon."

[Maine-ah]

16. one of my favorites.

[fascisthunter]

26. oh my... one of my favorites

[ddeclue]

17. translated into French: "Let them eat cake"..

:eyes:

[Lucy Goosey]

19. My thoughts exactly. Time to storm the Bastille?

[Jkid]

24. Since they can't afford cake...

"Let them die."

[lumberjack_jeff]

22. Perhaps, but it doesn't mean it should be promoted. n/t

[Jkid]

25. We have tolerated inequality for about two decades.

The poverty rate in America is 1/6 of the population. We've tolerated inequality long enough.

[Xicano]

31. Hey Goldman Sachs HOW ABOUT THIS! How about we just tell you to go fuck yourself the next time

you come CRYING to us begging to bail you out.

We all should get together and come up with a (lawful) strategy first to class action sue them to get all our money back on the bases of fraud when they came crying to us to bail them out. There was nothing in their statements or testimony when they were crying to us to bail them out that included anything about it being for "bonuses." Secondly, another (lawful) strategy to outlaw the bailing out of wall street with money given to them like a grant. There should be clear and concise laws which mandate any public funds used for bailout purposes to businesses should come with the terms that it will be paid back in full within 1 to 5 yrs at interest or the business and all its assets seized and any open accounts made payable to the U.S. Treasury until the successful auctioning off of the seized business and its assets at a price that will at the minimum pay back 100% plus interest the amount "loaned" for bail out purposes.

Because IMO this shit isn't just complete bullshit. As far as I am concerned its blatant theft of our nation's treasury on a scale that threatens our national security. Two reason why IMO it qualifies as nothing less than treason.

[Roland99]

32. 30 years of Reaganomics / Trickle-Down / Supply-side / whatever is what CAUSED this crisis!

These fucks will never learn.

They treat labor as dirt...worse than dirt! They look upon labor as a necessary evil and fight to minimize the costs of it as much as possible so they can keep more of their profits in their greedy pockets and build up even more wealth and exclude even more people from attaining a living wage!


EDIT:


HA! And Friedman proves my point today even!!!!

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=6826519&mesg_id=6826519



FUCK THEM!!

[Me.]

34. Well Said

Kudos

[Romulox]

33. Thank GAWD etc. etc. nt

[Barack_America]

36. .

:kick: