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One of the reasons the 700B bailout plan is still under discussion is that, the Demacrate wants to add more privisions to the plan so that the government can have more control on the banks and also have more control on executive bonus and pay package etc. I totally agree with the Dem at such issue. Due to greed, all those high level executives in banking industries took huge risk to expose and pretty much destroyed the financial system, yet, they are rewarded with huge amount of bonus and packages. Imagine without those provisions, the banking executives simply use some of the 700B bailout funding to pay themselves huge aomout of bonus again. Trust me, they will do it shamelessly.
The argument from Paulson and the Republican is, well, if we have those provisions, the banking industry will not accept the deal. Mr. Paulson, are you telling us that, if the executives feel that they can't keep getting those multi million bonus, they would not like their banks being bailed out? Give me a break.
The CEOs of FNM and FRE are pretty much "Laid Off' with multi millions severance package. I guess we should all feel sorry for them. To the public, those guys should be as guilty as the Enron folks who are serving jail time now.
This system is totally screwed up. And tax payers have every bit of reason to be upset and angry.
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