Comments on: Contagion http://www.ephblog.com/2008/09/21/contagion/ All Things Eph Sun, 14 Mar 2010 16:29:34 +0000 http://wordpress.org/?v=abc hourly 1 By: rory http://www.ephblog.com/2008/09/21/contagion/#comment-35613 rory Mon, 22 Sep 2008 20:13:58 +0000 http://www.ephblog.com/?p=9668#comment-35613 my mistake. I misread your post while multitasking and eating lunch. my mistake. I misread your post while multitasking and eating lunch.

]]> By: PTC http://www.ephblog.com/2008/09/21/contagion/#comment-35609 PTC Mon, 22 Sep 2008 18:57:23 +0000 http://www.ephblog.com/?p=9668#comment-35609 Rory- I believe my math is correct. It is over 7k per tax payer. That means 14 plus K for my wife and I, then of course... my mother, my father, my aunts, my nephews... I am doing the math per tax payer, not per population. I believe the 2k figure comes into play if you were to pay every American, including those who do not pay taxes. Rory- I believe my math is correct. It is over 7k per tax payer. That means 14 plus K for my wife and I, then of course… my mother, my father, my aunts, my nephews… I am doing the math per tax payer, not per population. I believe the 2k figure comes into play if you were to pay every American, including those who do not pay taxes.

]]> By: Rory http://www.ephblog.com/2008/09/21/contagion/#comment-35607 Rory Mon, 22 Sep 2008 18:22:40 +0000 http://www.ephblog.com/?p=9668#comment-35607 its over 2000 per individual. i'm not sure if that's only adults...i think it isn't. its over 2000 per individual. i’m not sure if that’s only adults…i think it isn’t.

]]> By: PTC http://www.ephblog.com/2008/09/21/contagion/#comment-35605 PTC Mon, 22 Sep 2008 18:05:43 +0000 http://www.ephblog.com/?p=9668#comment-35605 Why should we (the taxpayers) hand over a trillion more dollars to big banks who give away billions in golden parachutes? Heck, if we do the math... you could cut each American tax payer a check for how much exactly, with a trillion dollars? I do not need a smart eph to do that calculation. 1,000,000,000,000/138,000,000= 1,000,000/ 138= 7250 X number of taxpayers in my family. Why should we (the taxpayers) hand over a trillion more dollars to big banks who give away billions in golden parachutes? Heck, if we do the math… you could cut each American tax payer a check for how much exactly, with a trillion dollars?

I do not need a smart eph to do that calculation.

1,000,000,000,000/138,000,000=

1,000,000/ 138= 7250 X number of taxpayers in my family.

]]> By: Soph Mom http://www.ephblog.com/2008/09/21/contagion/#comment-35600 Soph Mom Mon, 22 Sep 2008 16:47:09 +0000 http://www.ephblog.com/?p=9668#comment-35600 (Addendum to #9) Or sadly...supporting the ticket regardless of their serious misgivings. (Addendum to #9)

Or sadly…supporting the ticket regardless of their serious misgivings.

]]> By: Soph Mom http://www.ephblog.com/2008/09/21/contagion/#comment-35599 Soph Mom Mon, 22 Sep 2008 16:40:47 +0000 http://www.ephblog.com/?p=9668#comment-35599 A fascinating turn of events in this election (as evidenced in this video), are the increasing numbers of conservatives that are openly criticizing, and voicing apprehension, about the GOP ticket. It will be interesting to see how that plays out at the polls...whether they actually end up supporting Obama, or pushing the button for Barr, or foregoing their vote altogether. A fascinating turn of events in this election (as evidenced in this video), are the increasing numbers of conservatives that are openly criticizing, and voicing apprehension, about the GOP ticket.

It will be interesting to see how that plays out at the polls…whether they actually end up supporting Obama, or pushing the button for Barr, or foregoing their vote altogether.

]]> By: nuts http://www.ephblog.com/2008/09/21/contagion/#comment-35596 nuts Mon, 22 Sep 2008 16:09:16 +0000 http://www.ephblog.com/?p=9668#comment-35596 <a href="http://robertreich.blogspot.com/" rel="nofollow">R. Reich</a> has conditions. R. Reich has conditions.

]]> By: David Kane http://www.ephblog.com/2008/09/21/contagion/#comment-35577 David Kane Mon, 22 Sep 2008 12:11:45 +0000 http://www.ephblog.com/?p=9668#comment-35577 I would be against any plan that said, "Give us back the money that you made." That is not what I propose. Instead, the plan is: "<i>If you want to participate in the bailout</i>, give us back some of the money that you made." If Goldman does not participate, then Blankfein can keep his $67 million. I would be against any plan that said, “Give us back the money that you made.” That is not what I propose. Instead, the plan is: “If you want to participate in the bailout, give us back some of the money that you made.”

If Goldman does not participate, then Blankfein can keep his $67 million.

]]> By: JG http://www.ephblog.com/2008/09/21/contagion/#comment-35570 JG Mon, 22 Sep 2008 11:45:23 +0000 http://www.ephblog.com/?p=9668#comment-35570 I absolutely think that future compensation should be limited for any firm that wants the govt to bail them out. And any funds that have not yet been paid out to a CEO should be limited wherever possible, and I realize this might not always be possible. There are CEOs still working at some of these firms who have various bonus calculations in their contracts though. How abut the boards of directors start, I don't know, <i>directing</i> their companies and make sure there is some criteria for receiving the bonuses that might reflect not running them into the ground? I'm glad to see the Dems are at least pretending to have a backbone right now and not giving a blank check to Paulson. I love that he seems to think he's done such a huckuva job that he deserves such unfettered piles of money to play with. It remains to be seen what kind of spine the Dems keep...we'll see. I absolutely think that future compensation should be limited for any firm that wants the govt to bail them out. And any funds that have not yet been paid out to a CEO should be limited wherever possible, and I realize this might not always be possible. There are CEOs still working at some of these firms who have various bonus calculations in their contracts though. How abut the boards of directors start, I don’t know, directing their companies and make sure there is some criteria for receiving the bonuses that might reflect not running them into the ground?

I’m glad to see the Dems are at least pretending to have a backbone right now and not giving a blank check to Paulson. I love that he seems to think he’s done such a huckuva job that he deserves such unfettered piles of money to play with. It remains to be seen what kind of spine the Dems keep…we’ll see.

]]> By: JeffZ http://www.ephblog.com/2008/09/21/contagion/#comment-35568 JeffZ Mon, 22 Sep 2008 11:21:56 +0000 http://www.ephblog.com/?p=9668#comment-35568 Thanks Nuts. McCain's ad about Raines, who met Obama once, for five minutes (but who is a black man, oh no!), when his campaign manager was in bed with these institutions, based solely on his access to McCain, to the tune of hundreds of thousands of dollars, is the very definition of chutzpah / stupidity (take your pick). If McCain loses, and does the inevitable blame the liberal media routine, he might want to start by taking a look in the mirror to realize that his hypocrisy and dishonesy, and nothing else, caused the media to turn on him ... nothing more embodies that hypocrisy / dishonesty than the Raines / Davis comparison ... Thanks Nuts. McCain’s ad about Raines, who met Obama once, for five minutes (but who is a black man, oh no!), when his campaign manager was in bed with these institutions, based solely on his access to McCain, to the tune of hundreds of thousands of dollars, is the very definition of chutzpah / stupidity (take your pick). If McCain loses, and does the inevitable blame the liberal media routine, he might want to start by taking a look in the mirror to realize that his hypocrisy and dishonesy, and nothing else, caused the media to turn on him … nothing more embodies that hypocrisy / dishonesty than the Raines / Davis comparison …

]]> By: JeffZ http://www.ephblog.com/2008/09/21/contagion/#comment-35567 JeffZ Mon, 22 Sep 2008 11:15:04 +0000 http://www.ephblog.com/?p=9668#comment-35567 From an equity perspective, of course this makes complete sense to me David. Although I am not sure if there is any mechanism or precedent for Congress to retrospectively target the wages or particular individuals who were already paid those wages pursuant to a contract. And I'm not sure we want to set that sort of precedent here. Or even to interfere with an already-existing employment contract that contains a golden parachute provision (although the latter seems like less of a stretch). Very different from a general tax based on income levels (of course, if the Bush tax cuts hadn't been pushed through, a good chunk of this revenue would already be in the federal treasury ...). One mechanism might be, if there is some plausible theory of fraud that might lead to litigation against the uber-compensated individuals, to frame it as immunity for suit in exchange for, say, 75 percent of salaries above certain levels in certain years. But that would be an opt-in sort of mechanism that would only work if there was a plausible threat of potentially successful litigation. And again, I don't know anything about how these companies work and whether they are structured and governed in such a way as to permit a shareholder derivative action or a breach of fiduciary duty type suit. But one thing is for sure -- if there is a way, there certainly is a will among the plaintiffs' bar ... From an equity perspective, of course this makes complete sense to me David. Although I am not sure if there is any mechanism or precedent for Congress to retrospectively target the wages or particular individuals who were already paid those wages pursuant to a contract. And I’m not sure we want to set that sort of precedent here. Or even to interfere with an already-existing employment contract that contains a golden parachute provision (although the latter seems like less of a stretch). Very different from a general tax based on income levels (of course, if the Bush tax cuts hadn’t been pushed through, a good chunk of this revenue would already be in the federal treasury …). One mechanism might be, if there is some plausible theory of fraud that might lead to litigation against the uber-compensated individuals, to frame it as immunity for suit in exchange for, say, 75 percent of salaries above certain levels in certain years. But that would be an opt-in sort of mechanism that would only work if there was a plausible threat of potentially successful litigation. And again, I don’t know anything about how these companies work and whether they are structured and governed in such a way as to permit a shareholder derivative action or a breach of fiduciary duty type suit. But one thing is for sure — if there is a way, there certainly is a will among the plaintiffs’ bar …

]]> By: '10 http://www.ephblog.com/2008/09/21/contagion/#comment-35550 '10 Mon, 22 Sep 2008 08:06:43 +0000 http://www.ephblog.com/?p=9668#comment-35550 Can you stick to "quoting" things that are actually quotes, please? Can you stick to “quoting” things that are actually quotes, please?

]]> By: nuts http://www.ephblog.com/2008/09/21/contagion/#comment-35548 nuts Mon, 22 Sep 2008 06:46:02 +0000 http://www.ephblog.com/?p=9668#comment-35548 The <a href="http://www.youtube.com/watch?v=Xzc0re_3hQw" rel="nofollow">re-regulator</a>. How quickly Cokie and Will turn. The re-regulator. How quickly Cokie and Will turn.

]]> By: nuts http://www.ephblog.com/2008/09/21/contagion/#comment-35547 nuts Mon, 22 Sep 2008 06:38:36 +0000 http://www.ephblog.com/?p=9668#comment-35547 Obama <a href="http://www.jedreport.com/2008/09/obama-statement-on-treasury-pr.html" rel="nofollow">responds.</a> McCain has some <a href="http://www.nytimes.com/2008/09/22/us/politics/22mccain.html" rel="nofollow">splainin' to do</a>. Obama responds. McCain has some splainin’ to do.

]]>