Thursday, February 5, 2009

Wall Street Greed

Recently, a figure equivalent to just over 2.5% of the massive economic bailout was paid out in bonuses to many of the executives largely responsible for the current economic crisis (story in New York Times). That's not a kick to the shin of the US taxpayer, it's more like a kick to the head with a steal-toed boot and then spitting in your face! I received the following email from the MoveOn organization and wanted to share it.

Dear MoveOn member,

On Friday, Sen. Claire McCaskill took to the Senate floor and gave voice to the anger that Americans are feeling about the excesses of Wall Street.

Wall Street executives just paid themselves $18.4 billion in bonuses last month, at the very same time taxpayers were cleaning up the economic messes created by Wall Street. Here's just a small part of what Sen. McCaskill had to say:

"We must have our financial institutions survive, but not with a culture that thinks it's okay to kick the taxpayer in the shins while they drink champagne and fly in fancy jets. It doesn't work. Not in the United States of America."

Sen. McCaskill isn't the only one speaking up. President Obama called the bonuses "shameful" and "the height of irresponsibility." And a bill that would put limits on executive pay has already passed the House. A huge public outcry will put them over the edge. Can you sign this petition to Congress, urging them to act now to rein in Wall Street greed?

If you like apple pie, then go sign the petition and perhaps consider joining the MoveOn organization.

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