If bankers donated just 10% of bonuses to Haiti

[AllHereTruth]

You know the $47 billion in bonuses that Goldman Sachs, JPMorgan Chase and Morgan Stanley have been sitting on? How about passing some of it along to people who might need it a little more, say to the people devastated by the earthquake in Haiti? - $4.7 billion would go to a country in need

http://www.npr.org/templates/story/story.php?storyId=122618158&sc=fb&cc=fp

Consultant Stephen Hall told NPR that "even though firms didn't use TARP funds to make bonuses, Wall Street banks benefited from borrowing funds from the government for almost nothing and then got a favorable return on their investment." Hall says, "It wasn't necessarily innovation or smart individuals that enabled banks to be profitable in 2009." In some cases, he says, "it was 'simple arbitrage' by investing in Treasury bills after obtaining funds at low interest rates."


So the supposed geniuses at Goldman Sachs, who helped get us into our current economic mess in the first place, just picked our pockets for no interest and bought Treasury bills? That's why they deserve bonuses?

And what bonuses: The above article reports that Goldman Sachs, Morgan Stanley and JPMorgan Chase combined have set aside $47 billion for bonuses.

$47 billion in bonuses.

Haiti's annual gross domestic product in nominal terms is about $7 billion a year.

So here is a modest proposal: Since public monies clearly were the basis for a lot of the "profits" the banks and finance houses made in 2009, why don't the executives show at least a little common decency and donate 10 percent of these bonuses to Haiti reconstruction and development? That would be $4.7 billion, and it would go a very long way in Haiti.

It might help change the public perception of them.

Digg this story: http://digg.com/world_news/If_bankers_donated_just_10_of_bonuses_to_Haiti

[Divine Discontent]

1. I couldn't talk to a family member who was involved with these banks without telling them they work

for disgusting people that only care about their jets, their 2 mansions and 3 condos, their stock value, etc...

4.7 Billion! amazing figure....

too bad they won't donate more than a few million, I'd bet.

[aquart]

2. I was thinking the bankers could get by with less than 50%.

And that's me being generous and kind. I would also like to take the other 50% from them and use it to buy whips to beat them with.

[Mopar151]

3. It ain't like they don't owe it to Haiti, either

The NY banks looted Haiti's economy for years, with the help of the Marines. Maybe Haiti could become the new Hamptons, in a small way - the banksters would'nt even notice paying triple for their new little tropical hideaways.

[Roland99]

4. But they were already doing God's work. Why should they be charitable?

They worked hard for that money.

It takes much effort to fuck America up the ass, sideways.

[AnArmyVeteran]

7. Great Bumper Stickers (where can I get them???)

[Roland99]

8. Pretty sure I got them all from cafepress

[Vidar]

5. If.

[AnArmyVeteran]

6. Rampant GREED is a sickness that could destroy the US

Conservatives worship greed. They want to remove all restrictions to the greediest in our country. Conservatives believe greed is a virtue to be admired. They equate 'worth' to the amount of money a person amasses. They condemn those who are poor in wealth, but rich in spirit and love for their fellow man. Conservatives are always willing to spend unlimited amounts of money on war, killing and destruction, but not a dime to help a person in need. How anyone can be a conservative extremist is beyond comprehension.