You are herecontent / NO BAILOUT Petition by Vermont Senator Bernie Sanders Tops 40,000 Signers - Sign Off for NO BAILOUT

NO BAILOUT Petition by Vermont Senator Bernie Sanders Tops 40,000 Signers - Sign Off for NO BAILOUT


Wall Street Bailout -- 09/26/2008

There is little public support for President Bush's $700 billion bailout. Just 30 percent support Bush's package, according to an Associated Press poll released Friday. More than 4,000 of you have taken our survey, and those results are even more remarkable. Are you confident that taxpayers would be treated fairly if Congress and the Bush administration agree on a bailout? You aren’t. Do you think a bailout would help the economy? No. Do you favor a surtax on individuals who make more than $500,000 a year and couples earning more than $1 million to pay for a Wall Street bailout? More than 91 percent agree with the proposal by Senator Bernie Sanders. What’s more, as of late Friday, more than 40,000 (as of late Friday) of you co-signed Bernie’s letter to Treasury Secretary Henry Paulson suggesting a tax on the very wealthy.

“While the Bush administration has quickly rallied to help Wall Street, it has ignored the needs of the declining middle class. Since President Bush has been in office the wealthiest people in this country have made out like bandits and have not had it so good since the 1920s. The top 0.1 percent now earn more income than the bottom 50 percent of Americans and the top, 1 percent own more wealth than the bottom 90 percent,” the letter to Paulson says.

Among the wealthiest Americans are the tycoons that ran many of the same Wall Street financial institutions now lining up for bailouts.

Paulson himself received a $38 million bonus in 2005, when he was chief executive of Goldman Sachs. It was the largest bonus ever given to a Wall Street CEO. In December of 2006, John Mack of Morgan Stanley broke Paulson’s record with a $40 million bonus. Not to be outdone, Lloyd Blankfein, the new CEO of Goldman Sachs received a $53 million bonus later that month. In 2007, Blankfein shattered his own record by receiving a $68 million bonus.

In October of 2007, E. Stanley O’Neal, the former chief executive of Merrill Lynch, collected a severance package worth an estimated $161 million. Due to its risky investments, Merrill Lynch was recently sold to Bank of America.

Angelo Mozilo, the former CEO of Countrywide, received a severance package of about $110 million. That's on top of $140 million in Countrywide stock that he sold off during 2006-07. Mozilo was also paid $48 million in 2006. Due to its risky investments, Countrywide was sold to Bank of America.

In 2007, Wall Street's five biggest firms – Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley – paid a record $39 billion in bonuses to themselves.

Wall Street’s investment bank bonuses are larger than the gross domestic products of Sri Lanka, Lebanon or Bulgaria, and the average bonus of $219,198 is more than four times higher than the median U.S. household income in 2006.

To sign the letter to Paulson, click here.

To take our poll or read the results, click here.

To read about the AP poll, click here.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Given the now likely passage of the Great Bailout, I'm mad as hell and I'm not going to take this anymore!

If you're mad as hell too and want to stop the passage of the Great Bailout, please visit http://ImMad.net to sign a petition, right now!

Then spread the word about http://ImMad.net to as many people as you can, right away!

This is our last chance to speak up.

A bailout opposition petition written in the words of Thomas Jefferson himself is at Thomas Jefferson's Plea Now that the bailout has failed its first test in front of the American People, the urgency is even greater to stand against it until its driven deep into the ground.

I Am Angry!!!

People bought houses they knew they could not afford from banks who knew they couldn't afford them. On top of that the derivitives/hedge funds are off the charts (huge amount more than this housing problem)

Well, I did not buy a house or purchase anything on credit. I work paycheck to paycheck already being overtaxed, paying high gas prices, high groceries, high rent, HIGH EVERYTHING! Now because of the banks greed- and YES....this is their responsibility. They gambled and they LOST! They just want us to be the ones who pay for their GREED! Our government wants us to pay for their greed! Many countries want us to pay for their greed! THIS IS WRONG!!!!!

This bailout proposal (and NO- it IS NOT A "RESCUE PLAN" no matter how they want to sugar-coat it) does nothing to help me or most other americans. It's directly wanted to help the guilty!

What more do you want from us????? This government has stripped us of our freedoms our fourfathers and many others fought for, they have allowed these corporations to send our jobs overseas in order to pay pennies on the dollar for slave labor with no rights or protections, they lay tax upon tax, upon tax on paychecks, bills, gas pumps, and everything else.... our purse has been pried open because they might have missed a nickle. So many families homeless, so many others can't put food on the table.

I want to know why WE (the innocent) are expected to bare the burden when we have lost so much more. Other countries suffer because they expect us to buy up their imports- WITH WHAT?????? Our country has made sure to strip anything away from us. People started living on money they didn't have. They still had families to feed. Corporate america took their money and their jobs with our governments blessing!

NO BAILOUT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

i have screemed as load as i can sign every petition and tryed my best to save the average person from this well they just dont get it there going to do what they want so if someone can tell me whats next ill do what it takes to try to get these idiots to listen

edward@justkiddinofbrookhaven.com

I totaly agree with you why should I help people that purchase a $300,000 home when they knew they can only buy a $100,000 home that that it is called iresponsable people. in part the banks and realstate agents are to blame for cuz they told them O YEAH YOU CAN BUY YOUR DREAM HOME LOOK NO MONEY DOWN SURE LET"S SIGN THE CONTRAC and people did not do there home work they did not think that the payment was going to change later in a couple of years.

NO GOVERNMENT INTERVENTION. STOP with "the sky is falling" scare tactics. That is pure Crapola. This area will not fall if GM or any other major employer in the area tanks. Back when the military bases were being closed (the military hired more people and brought more money in than GM) everyone cried and said the area would be ruined, dry up and become a ghost town. That didn't happen and they shut down more bases and put more people out of work that anything GM has to offer. So, enough already with the doom and gloom. I won't speak for anyone else, but I just don't buy it.

What I do buy is, look at the amount of money GM is reportedly paying out in the Arlington TX, area for salary 308.9 million for a bit over 2500 employees. That's an average of a bit over 122K per employee (Yes, I know not every employee makes that amount, that’s an average). Amazing to say the least. They make all that money to be able to pay that kind of salary and only contributed 175K. Shame on them. We don't even know if that was to Arlington or somewhere else. No wonder it costs so much for everyone else to buy a car. They didn't quote how much GM is shelling out for extended periods of time, to workers laid off, retirement fund, paying so much medical that the employee only has to pay $10 a month, etc.

They set themselves up to fail. The other companies that supply GM should be negotiating about now, with someone else to buy their products or if they are having problems, marching to Washington crying and begging for their piece of the pie. Sink or swim on your own GM and if you pull down some other companies at the same time, so be it. They took on supplying a company that had bad business practices. The way business is supposed to run in this country is (or was) supposed to be on sound practices. If they flourished that was great, but many before have flourished for a while and then failed. They weren't bailed out by the government. Some other company came in behind them with better plans and things moved along.

I recall conversations with GM employees over the years who laughed about how they didn't have to do this or that because they went to the Union and complained and the Union went to the company and threatened whatever and GM gave in. They laughed about how much money they were making and hardly had to do anything, and since they were employeed by GM, their kids did not have to worry about getting a job, the Union would make GM hire them. Let them go bankrupt and start over, or better yet, let some other up and coming car manufacturer with better business practices move in the area. Once again Congress, and every one else pushing this country into socialism, needs to butt out. GM or any other car maker is not entitled to a bailout. The employees are not entitled to a rescue plan (bailout) just because they chose to work for GM. Get a job somewhere else. Probably one of the greatest fears of the employees is the lack of skills that the company has helped enable. Gee, how much skill does it take to watch a machine put a car seat in the body of a car. That action is not a skill by any sense of the word. However, being sympathetic to that, if that was the only skill I knew, I guess I would be worried to.

Actually, those who COULD qualify could join the military and SERVE their country instead of themselves.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Support WarIsACrime



Donate.








Tweet your Congress critters here.


Advertise on this site!




Facebook      Twitter





Our Store:



















Movie Memorabilia.



The log-in box below is only for bloggers. Nobody else will be able to log in because we have not figured out how to stop voluminous spam ruining the site. If you would like us to have the resources to figure that out please donate. If you would like to receive occasional emails please sign up. If you would like to be a blogger here please send your resume.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.