Is It Time for Class War Yet?


apipower - Posted on 04 August 2009

The financial company, Citigroup, which the government bailed out for $45 billion wants to pay out a $110 million bonus -- to one guy named Andrew Hall.
 
This is the same Citigroup that received $45 billion in bailout money. The same Citigroup that will soon be 34% owned by the U.S. government. The same Citigroup that has lost 95% of its share value since 2007.
In fact, it wants to pay out $5.3 billion i.e. 12% of that bailout money to its employees in one year bonuses. Why do the rich bastards that created the economic crisis with their greed get to benefit from bailout funds?
In fact, the nine wall street financial firms want to pay out 33 billion in bonuses this year, more than enough to cover the state of California's current state deficit. And California constitutes one-eighth of the U.S. economy.
By the way, how Hall made his money was to speculate in oil futures, driving up prices while demand was dropping. Who paid the higher gas prices? One guess.
Does anyone think it's time for class war yet to tax the rich for all the years when the Republicans gave them all those tax breaks. Better yet, let's get rid of the day anyone "deserves" $100 million dollars a year. What do you do with all that money?

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