Is Greed of Money a global trend?
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"Most of us sign on to do jobs and we do them best we can," said Frank, a Massachusetts Democrat. "We're told that some of the most highly paid people in executive positions are different. They need extra money to be motivated!"
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.
Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the AP review of federal securities documents found.
The total amount given to nearly 600 executives would cover bailout costs for many of the 116 banks that have so far accepted tax dollars to boost their bottom lines.
Rep. Barney Frank, chairman of the House Financial Services committee and a long-standing critic of executive largesse, said the bonuses tallied by the AP review amount to a bribe "to get them to do the jobs for which they are well paid in the first place.
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but their govt are willing to bail them out with taxpayers' money.
U.S. is really a tok kong country.
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It is a global trend . In a way the people in the banking industries in singapore are still the higher paid group.
It was the employee market for them in the higher management group which is why they have the command of power for money and they were the industries that is most flush with money anyway. In such an environment , they need more money to be motivated.
If I am working in such a situation , I will be greedy too ..... There is no conscious in front of money . haha
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Greed of money is not a trend, it is built into the system.
As people compete for a limited supply of money (paper), they are forced to exploit other people in order to get whatever pieces of paper they can get their greedy hands on, breeding greed.
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Originally posted by Daddy!!:
"Most of us sign on to do jobs and we do them best we can," said Frank, a Massachusetts Democrat. "We're told that some of the most highly paid people in executive positions are different. They need extra money to be motivated!"
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.
Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the AP review of federal securities documents found.
The total amount given to nearly 600 executives would cover bailout costs for many of the 116 banks that have so far accepted tax dollars to boost their bottom lines.
Rep. Barney Frank, chairman of the House Financial Services committee and a long-standing critic of executive largesse, said the bonuses tallied by the AP review amount to a bribe "to get them to do the jobs for which they are well paid in the first place.
By the way, link to article: http://www.google.com/hostednews/ap/article/ALeqM5j4du5x_AukGeVZ5Rli1iFTG1jEWgD9575TMG0 -
Originally posted by freedomclub:
Greed of money is not a trend, it is built into the system.
As people compete for a limited supply of money (paper), they are forced to exploit other people in order to get whatever pieces of paper they can get their greedy hands on, breeding greed.
I kind of disagree .
Firstly , the fact that they got so much money in the first means that their limited supply of money is not that limited. What they have is a comparative mindset among the individuals on their own value .
1)If a bank pays a top exec 1.5 million for managing and contributing 100 M.
Another will not settle for less.
2) It was a time (past) whereby the top exe are like branded goods , their worth is by their pay scale .
If the money is limited then by the normal logic economics , it will be much more competitive and so their pay and bonus will not be so fat.
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Money is how people with no talent keep score - Michael Hart
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Exactly, the existence of money creates a situation where greed must exist.
More than the greed it directly creates, money creates a competitive environment that spawns more greed.
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Abolish the monetary system.
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Originally posted by Daddy!!:
"Most of us sign on to do jobs and we do them best we can," said Frank, a Massachusetts Democrat. "We're told that some of the most highly paid people in executive positions are different. They need extra money to be motivated!"
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.
Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the AP review of federal securities documents found.
The total amount given to nearly 600 executives would cover bailout costs for many of the 116 banks that have so far accepted tax dollars to boost their bottom lines.
Rep. Barney Frank, chairman of the House Financial Services committee and a long-standing critic of executive largesse, said the bonuses tallied by the AP review amount to a bribe "to get them to do the jobs for which they are well paid in the first place.
not sure if it is a global trend but i know for sure it is the trend of our govt.
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it'll be a trend in whichever country where its citizens are taught that wealth equates to success. and wealth as well as success will being you happiness.
if a country educates its citizens to accept themselves and be content with what they have, their economy might suffer.
not too sure if materialism is a good thing. it has its pros and cons.
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Originally posted by dragg:
but their govt are willing to bail them out with taxpayers' money.
U.S. is really a tok kong country.
UK also can bail out their banks with taxpayers' money, UK is really a tok Ma country. -
Originally posted by fenfotography:
it'll be a trend in whichever country where its citizens are taught that wealth equates to success. and wealth as well as success will being you happiness.
if a country educates its citizens to accept themselves and be content with what they have, their economy might suffer.
not too sure if materialism is a good thing. it has its pros and cons.
If taught about wealth and success , the citizens will be struggling and ever challenging each other for it, leading to saddness, anger, revengeful, never satisfy, sick and frustrated life.If taught about contentation, the citizens will be happy, satisfied with minimium, live a more wonderful life
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the bank or financial employee are paid highly because we give them the opportunity to pounce on us.
but i bet those dayS ARE OVER because hedge funds will no longer be as big as before. investment banks are almost gone, banks will remodel themselves back to the old times and no longer earning fancy profits.
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its is the education system. it is the public media. so many things influence pple to go for greed.
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greed is everwhere in business. but it how we manage our greed. whether we earn it with dignity and clear conscience or we bluff and cheat the way to the banks.
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Originally posted by reyes:
greed is everwhere in business. but it how we manage our greed. whether we earn it with dignity and clear conscience or we bluff and cheat the way to the banks.
My dear Fuhrer, are you joking?? greed still got dignity and conscience meh?? my left foot give u smell.. -
money breeds greed. It is manifested from the very top at the US Federal Reserve which prints money like nobody's business. Top bankers are agents who naturally gain courage to pay themselves obsene bonuses. Now they know that the country cannot afford them to fail and will bail their losses out. Head i win, tail you lose, OK?
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is the topic refering to our gahmen?
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confirm 100%..pyhiscally. some of the ways to be legeally corrupted.
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now is not a good time to talk about check and balances. we dont need to fly 22 hours over there to find out why not.
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Originally posted by Daddy!!:
"Most of us sign on to do jobs and we do them best we can," said Frank, a Massachusetts Democrat. "We're told that some of the most highly paid people in executive positions are different. They need extra money to be motivated!"
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.
Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the AP review of federal securities documents found.
The total amount given to nearly 600 executives would cover bailout costs for many of the 116 banks that have so far accepted tax dollars to boost their bottom lines.
Rep. Barney Frank, chairman of the House Financial Services committee and a long-standing critic of executive largesse, said the bonuses tallied by the AP review amount to a bribe "to get them to do the jobs for which they are well paid in the first place.
This quote sounds so much like what the sg government is telling singaporeans.
