Comments on: Out on the Street: Anger is Bad Policy http://www.recessionwire.com/2009/03/25/tarp-bonuses-anger-and-policy/ The upside of the downturn Fri, 03 Feb 2012 18:42:12 +0000 hourly 1 http://wordpress.org/?v=3.0.2 By: Joe the Trader http://www.recessionwire.com/2009/03/25/tarp-bonuses-anger-and-policy/comment-page-1/#comment-727 Joe the Trader Fri, 27 Mar 2009 13:50:23 +0000 http://www.recessionwire.com/?p=3408#comment-727 Ben, I am glad you are in agreement and thanks for reading. It's funny that you mention that I need a new party card. I was just discussing with a friend, who is a life long Republican, that it is quite possible that as a result of the current crisis a new party could emerge. And that the new party could represent both of our views. After another beer, we decided that there would need to be two new parties as our political differences were still too wide. However, as dismayed as I am but the current populist fervor, it is a response to the widening income inequality that has taken place since the eighties. IMHO, income inequality is problematic not because of a fairness issue (unless legislated which I believe the Bush tax cuts were) but because it tears at the fabric of society. Now is the time that we need to be coming together as a country, but deep seeded resentment of rich Wall Street bankers is tearing us apart. It is precisely this dynamic of "an unequal distribution of property" that Madison highlighted in Federalist 10 that could lead to an emotional majority faction. So I guess I think I can still quote the founding fathers without trading in my Democratic identity.. for now. Best, Joe Ben,
I am glad you are in agreement and thanks for reading.

It’s funny that you mention that I need a new party card. I was just discussing with a friend, who is a life long Republican, that it is quite possible that as a result of the current crisis a new party could emerge. And that the new party could represent both of our views. After another beer, we decided that there would need to be two new parties as our political differences were still too wide.

However, as dismayed as I am but the current populist fervor, it is a response to the widening income inequality that has taken place since the eighties. IMHO, income inequality is problematic not because of a fairness issue (unless legislated which I believe the Bush tax cuts were) but because it tears at the fabric of society. Now is the time that we need to be coming together as a country, but deep seeded resentment of rich Wall Street bankers is tearing us apart. It is precisely this dynamic of “an unequal distribution of property” that Madison highlighted in Federalist 10 that could lead to an emotional majority faction. So I guess I think I can still quote the founding fathers without trading in my Democratic identity.. for now.
Best,
Joe

]]> By: Ben Welles http://www.recessionwire.com/2009/03/25/tarp-bonuses-anger-and-policy/comment-page-1/#comment-716 Ben Welles Thu, 26 Mar 2009 20:07:29 +0000 http://www.recessionwire.com/?p=3408#comment-716 Yes, yes and yes. All is on target. One question though, how can you be a card carrying democrat and still quote the Federalist Papers? The Democratic Party no longer has any relationship whatsoever to the ideals espoused in the Federalist Papers. After all, can someone who said "Ask not what your country can do for you, but what you can do from your country?" Seems to me that's the exact opposite of what the current POTUS, a democrat holds dear. Or as Reagan said, "I didn't leave the Democratic Party, the Democratic Party left me." I think you're in need of a new party card fella. Yes, yes and yes. All is on target. One question though, how can you be a card carrying democrat and still quote the Federalist Papers? The Democratic Party no longer has any relationship whatsoever to the ideals espoused in the Federalist Papers. After all, can someone who said “Ask not what your country can do for you, but what you can do from your country?” Seems to me that’s the exact opposite of what the current POTUS, a democrat holds dear.

Or as Reagan said, “I didn’t leave the Democratic Party, the Democratic Party left me.”

I think you’re in need of a new party card fella.

]]> By: Underpaid http://www.recessionwire.com/2009/03/25/tarp-bonuses-anger-and-policy/comment-page-1/#comment-690 Underpaid Thu, 26 Mar 2009 02:46:40 +0000 http://www.recessionwire.com/?p=3408#comment-690 This was interesting, because seems like everyone is thinking of people who got bonuses as greedy, fat cats. But just because someone earns a lot of money doesn't mean he or she didn't work hard to earn it. This was interesting, because seems like everyone is thinking of people who got bonuses as greedy, fat cats. But just because someone earns a lot of money doesn’t mean he or she didn’t work hard to earn it.

]]> By: Target-Addict http://www.recessionwire.com/2009/03/25/tarp-bonuses-anger-and-policy/comment-page-1/#comment-683 Target-Addict Wed, 25 Mar 2009 17:30:40 +0000 http://www.recessionwire.com/?p=3408#comment-683 Joe, I'm right there with you. My brother works for one of the financial institutions being targeted by the Congress-proposed 90% tax. He manages funding for bio-tech companies, many involved in cancer-drug research. Any bonus he gets is hard-won and well-deserved. As mad as I am at AIG and Merrill Lynch, this tax by Congress is ill-conceived and doesn't address the real problems at hand with our financial system. Joe, I’m right there with you. My brother works for one of the financial institutions being targeted by the Congress-proposed 90% tax. He manages funding for bio-tech companies, many involved in cancer-drug research. Any bonus he gets is hard-won and well-deserved. As mad as I am at AIG and Merrill Lynch, this tax by Congress is ill-conceived and doesn’t address the real problems at hand with our financial system.

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