What could $150 billion in bank bonuses buy?

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posted on Jan, 17 2010 @ 01:09 AM
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It's recently been announced that bank bonuses for 2009 will total about $150 billion dollars.

Let's put this in perspective for those who are suddenly defending the banks..which to me is absolutely ridiculous.

$150,000,000,000 buys.....

1,500,000 houses at an average of $100,000. (which means that many people could keep their homes and have them completely paid for...avoiding foreclosure)

3,750,000 automobiles at an average value of $40,000 or 7,500,000 autos at $20,000.

150,000,000 big screen televisions at an average cost of $1,000...that's one tv for every 2 people in the US.

50,000,000,000 gallons of milk at $3 each.

75,000,000,000 loaves of bread at $2 each.

10,000,000 college tuitions at an average cost of $15,000 for four years.

75,000,000,000 bottles of water at $2.00 each.

7,500,000,000 canisters of baby formula or packages of diapers at $20 each

600,000,000,000 packages of Ramen noodles at $.25 each.

With $150,000,000,000 we could also.....

give 300,000 people $500,000 each to start new businesses...and to hopefully create jobs.

give every citizen in the Haitian capital (recently hit by earthquake with approximately 3,000,000 people) $50,000 dollars each

buy the homeless/hungry 30 billion meals at $5.00 each.

buy 3 billion full tanks of gas at an average cost of $50.00 each.

pay insurance premiums of $1300 a year ($25.00 per week) for 115,384,616 people in the US...that's over 1/3 of the entire US population.

make 150,000 US citizens instant millionares. (which also makes me wonder how many of these bankers are getting these bonuses...)

give every US citizen (approx 300 million) $500 each.

pay my yearly salary, which is a lowly $30,000 a year, for 5,000,000 YEARS.



After looking at these examples...all approximate...do you feel it is justified for the same entities that practices risky bets on Wall street (and STILL continues to do so), who were largely responsible for our economic meltdown, to get this money?

I don't.

I would also like to add that these financial firms PRODUCE NOTHING. They contribute NOTHING.


Have another example? Please add it. I think we lose track of how much money a billion dollars is...and what it could do to help out people who are struggling right now.


[edit on 17-1-2010 by David9176]

[edit on 17-1-2010 by David9176]




posted on Jan, 17 2010 @ 01:12 AM
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The Mars Direct mission plan to land people on Mars was estimated to cost $55 billion, so that's nearly 3 such missions to the red planet. Makes me depressed to think about.



posted on Jan, 17 2010 @ 01:42 AM
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reply to post by ZombieOctopus
 


I'm a space nut myself and would love for us to expand our exploration of the solar system. Unfortunately a trip to Mars is likely not to happen any time soon.

(continuing to add more examples to OP)

[edit on 17-1-2010 by David9176]



posted on Jan, 18 2010 @ 03:44 PM
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Come on.

No comments?

heh... I guess everyone must support this BS then.



posted on Feb, 27 2010 @ 02:31 AM
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Originally posted by David9176
Come on.

No comments?

heh... I guess everyone must support this BS then.


Ah HA!

What a jip!


I was scrolling down hoping to see some fireworks

and


absorutly nuthing

fight the socialism, really




Those people had contractual rights to earn those bonuses.
WTF does the government have to punish someone for being successful?
Its stealing, they earned it, its not your money.

[edit on 27-2-2010 by Janky Red]



posted on Feb, 27 2010 @ 03:12 AM
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I am a dyed in the wool capitalist. I have been in business for myself since age 18.

I have no problem with people earning lots of money..

However... Capitalism is DOOMED..it WILL fail....WHY you say?

Our implementation of Capitalism leaves out a key element to its long term success.... nobody teaches STOPPING SENSE!

Are there any classes in the business schools titled "How much is enough?"

Do parents and educators make any effort to teach children the meaning of altruism?

Can anyone identify with the statement: "The only reason to work is to make enough money so you don't have to"

We are now nearing the end of a cycle where accumulation of massive amounts of wealth by a very few...has the 90% of the population that now owns less than 10% of everything there is to own....changing their attitude from "Man that guy made it big..way to go, I am going to do that too" to "Those greedy bas**rds own everything..and there is no opportunity because they have me blocked out".

So eventually the masses rebel, kill the haves and in a hundred years or so a new set of greedy bas**rds has taken over only to be overthrown in another rebellion by the have-nots.

Learn from history or be doomed to repeat it.

Thousands of people out of work, losing their homes and everything they have worked so hard to accumulate... and the bankers who have raped the economy with their whacko money manipulations and outrageous fees are getting obscene bonuses... That does not play too well.

So all of you can say "they earned it"... but all I can say is "whose back did they break in the process?"

Work hard, be successful, but know in your heart how much is enough..when its time to quit and enjoy the fruits of your labor..get the hell out of the way and give someone else a chance. If you must work, use your energy and talent to mentor and help someone else make it.
That may sound naive, and against human nature, however if we allow ourselves to be guided by our gut instincts and not use the intelligence we have been given by God to figure out what we are doing wrong, then we have failed miserably.



posted on Feb, 27 2010 @ 03:19 AM
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With a tidy sum like that, you could probably buy your own private island...especially if you have a way of putting explosives in a fault line and shaking up the natives first. Make them ready to sell and whatever you give them... they will think they got a bargain.

Or you could buy a big plantation in an undeveloped country and start a religion. After all, they don't have internet there and with all the tricks of modern science you will have them believing --in no time at all!---that you were sent by god and speak on his behalf. Reseed a new crop; the old one has expired.



posted on Mar, 2 2010 @ 08:29 AM
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interesting. i like the list, my only problem with it is the college tuition part.

$15,000 for FOUR years? I wish...

My scholarship gives me over 10,000 a year and im still paying almost 15 grand a year after adding in all the other required but not included in tuition expenses.



posted on Mar, 2 2010 @ 08:42 AM
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Originally posted by David9176
$150,000,000,000 buys.....



A whole lot of politicians... which is exactly the point, I'm afraid!!!



posted on Mar, 2 2010 @ 08:42 AM
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Originally posted by David9176
$150,000,000,000 buys.....



A whole lot of politicians... which is exactly the point, I'm afraid!!!



posted on Mar, 2 2010 @ 08:55 AM
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Spreading the wealth sounds like socialist talk to me, and we know how most Americans hate Socialism. You should applaud the bankers for working so hard and achieving the American dream. they are rich beyond their wildest dreams. I suggest you all stop being so lazy and work harder so maybe you can have your piece of that dream. Envying the rich is not the American way, you never know? you may get a little from the trickle down effect.



posted on Mar, 2 2010 @ 08:58 AM
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reply to post by woodwardjnr
 


Kind of has a point - the lesson here for your future in America is to either go into Banking, work for the US Govt, or sit back and plan to live on welfare and other govt assistance programs.



posted on Mar, 2 2010 @ 10:35 AM
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Very interesting argument, David9176. Sadly, the only people to be bailed out of this mess are the masters of the universe on Wall Street and the banking system, while the lowly peon has to "hee and haw," with their congressman and senator over an extension to their paltry unemployment benefits. The serfs will get no bailouts, but only the brunt of the disaster that has been caused by a group of reckless bankers and financiers. It is rather disparaging, because if this was truly a capitalistic economy as is trumpeted by our politicians and economists, then the disaster of 2008 would have been allowed to work itself out without government intervention?

Now, we are living with an economy that is akin to a Frankenstein's monster. It is a corruption of the very principles of capitalism, and sadly, the bailout was only a band aide for a mortal wound that should have been dealt much differently than flooding the market with bailouts and cash by the Fed and Treasury. In other words, the economic apocalypse we got a glimpse of in 2008 is inevitable, and the problem of before persists.

Here's an example of an earlier bailout of Chrysler by government in 1979, and how it only staved off the inevitable collapse for a time. The problems that put them in peril to begin with were not allowed to work itself out within the market, as is defined in free-market capitalism. So, as we all remember, and most recently I might add, Chrysler was once again bailed out by the Federal Government with 6.6 billion dollars to finance their bankruptcy in 2009, rather than 1979. In other words, if Chrysler was allowed to sink or swim on its own in 1979, the taxpayer would be 6.6 billion dollars richer today and a weak mismanaged company would be out of the market.

Back to what you have mentioned about the $150,000,000 bonus given to bank executives in fiscal year 2009, some of that bonus ought to be given back to the government with portion going to the debt derived from the TAARP and another portion going back to the taxpayer. To me, that is the common sense approach, and seems very fair given the burden placed on the taxpayer during this trying time. They requested protection by the government when they accepted those loans, and now they have to pay!

They can complain about the government coming in and demanding some of that money, but still they owe. I find it no different than when a small business requests a loan from the mafia, and when they cannot pay or refuse to pay, the money is extracted one way or another through intimidation or force. It appears corruption is rampant everywhere: the financial system and government. Apparently, it seems it is the MO of both government and business, because it is allowed to go on with little to no effort to stem the disease.





[edit on 2-3-2010 by Jakes51]



posted on Mar, 2 2010 @ 10:41 AM
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What could $150 billion in bank bonuses buy?


A lot of criticism


with the way the economy is headed....a loaf of bread



posted on Mar, 2 2010 @ 11:24 AM
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While I would agree that is indeed a lot of money, I still have to say:
"If people are envious of what a CEO's earns, then they should become a CEO!"

But to answer the question, $150 Billion can buy a really super nice underground bunker.



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