I'm a commissioned salesman. Have been for 28 years. I make over half of my income from commissions. That means I get paid a nice salary, and when I sell a lot of software, I got paid a lot more money. The customer wins, my company wins, and I get to pay my mortgage and car payment. My email address is email@example.com. I'm damn proud of being a sales professional (I'm in the software business).
Now Obama is screaming about bonuses on Wall Street. These guys got paid $18 billion in bonuses. Sure we bailed them out, and sure, on the surface, you want to say, "No way". But listen:
If you had a contract with your company for pay, and they said "Sorry, we're not going to live up to that contract because the government has bailed us out", you'd be pissed off. And you'd have the legal right to sue for that money. Most importantly, you'd quit that chickensh*t company and go find another job. So your company would be in a world of hurt, because all of their salesmen would quit. And the economy would get worse.
Said Obama about Wall Street leaders: "There will be time for them to make profits, and there will be time for them to get bonuses. Now is not that time."Not the time to make profits? Not the time to get bonuses?
This is the single dumbest thing Obama has said so far.
If they don't like it, then Congress should have put better conditions on the bailout money. This one is squarely on the heads of the Congress. And, it pains me to say, on W, for signing the bailout.
We told you so. FUBO