Utterly greedy f**kers??
 

Morgan Stanley & others wish to maintain an $11bn tax break.

In the current economy.

Having had a sizeable bail out.

A tax break most companies and effectively no individual has access to.

http://www.huffingtonpost.com/2012/1...n_2205756.html

Oi, Morgan Stanley & pals - No!

Just have slightly smaller bonuses in future, you greedy scumbags.

This is not about financing the economy - not when you take this kind of money in bonuses, you blood sucking scumbags.

What is your value to society, and business, really?

If the net value is not so etching approaching, if not exceeding the bailout sums and tax breaks you get each year, then shut up, FFS!

Who said there only had to be 1 revolution in the history of America?...

Edit: and why is this topic in particular really getting up my nose? :o

Re: Utterly greedy f**kers??
 

The American Dream - the cream of the crop rise to the top, while the other 99% aspire to be there.

Just imagine even fewer regulations imposed on these corporations; true laissez-faire capitalism. That seems to be what a lot of people in this country blindly believe in. The article you posted from the evil socialistliberal Huffington Post is a prime example of greed, yet the same people still see the poor as the problem.

The French beheaded their king and abolished their monarchy for what happens here on a daily basis, only it's obviously not a monarch living a life of opulence and greed.

Re: Utterly greedy f**kers??
 

The religious conservative right would do away when minimum wage if they could.

Re: Utterly greedy f**kers??
 

Two things rise to the top - cream and scum.

Re: Utterly greedy f**kers??
 

That is a very sad truth

Re: Utterly greedy f**kers??
 

Off topic but this is one of the few times I've bought or applied for something purely based on the advert - which made me laugh:



Fast forward to 5:52.

Re: Utterly greedy f**kers??
 

The problem is that corporations look at the economy as a global economy and pretend that if they make money in the global economy, some how this helps main street. The problem is that these tax loopholes usually only help people with large amounts of money that are investing in these offshore operations and main street only gets trickle down economics from the money that they may possibly spend buying things with their excess profits. But even the trickle down concept likely has even a less impact than it is pretended to be since much of the excess money is likely spent on foreign vacation homes, Maseratis, Carteria watches, diamonds for their mistress, yacths built in foreign countries, investments in foreign plants and corporations, and excess speculation that causes the world economies to crash and does little if anything to help main street.

If the tax credits were given to companies that financed US companies to increase exports, tax credits may make some sense since that would likely create some US jobs but giving a tax credit for financing foreign companies has the exact opposite effect.

At one time, trickle down economics probably had some validity such as in the 1950s/1960s when it was difficult to invest in foreign countries let alone make a phone call to a foreign country that didn't take a half day to get connected (when I was living in Geneva Switzerland, it took over an hour to make a call to the Jura Mountains less than 30 miles out of Geneva) and airplane travel to other countries took all day (some times many days) on slow short range propeller driven airplanes (when i was in the military in 1961, it took me 3 weeks to get from San Francisco to Naples Italy with several layovers getting to Virginia Beach and layovers in the Azores, Morocco, Spain, and then finally Italy (the complete journey was done on DC6's, DC7's, and C130 with web seats strapped to the walls of the C130's and cargo on pallets in between the passengers). At that time the military in Italy seldom used phones to call the US but instead had 10,000 watt low frequency transmitters with very poor reception to contact the pentagon. At that time, navigation across the Atlantic was so poor (no long range navigation equipment for planes but long range LORAN for ships) that the military had to station ships about 200 miles apart from the US to Europe to be able to track Eisenhower's trip to Europe using short range TACAN. Commercial pilots navigated by the sun and stars and hoped that they could find islands such as the Azores.Getting to Asia via airplanes was even a much more perilous adventure.

Re: Utterly greedy f**kers??
 

Talking of a global market economy, Starbucks and some other big companies have been accused of tax dodging in the UK...

http://www.bbc.co.uk/news/business-20288077

If a business is so unprofitable for 14yrs why would they bother staying in business there?

Re: Utterly greedy f**kers??
 

A question for you Harry. If you were running Morgan Stanley, would you say, "Oops I'm being a greedy bastard, please stop giving me this perk"?

Re: Utterly greedy f**kers??
 

From their perspective, they are profitable BECAUSE they do dodgy things and get away with them. "Duty to the shareholders" and "anything to be competitive" and all that.

Re: Utterly greedy f**kers??
 

It is all about "power" just like it has been since the beginning of mankind. Many CEO's are just like the aristocrats over the centuries where they feel entitled to manipulate others for their benefit and gratification. If you disagree, then you are starting class warfare.

Re: Utterly greedy f**kers??
 

Storing oil became big business in 2008 and 2009, with many participants—including Wall Street giants, such as Morgan Stanley, Goldman Sachs, or Citicorp—turning sizeable profits simply by sitting on tanks of oil.

It has been estimated that one in twelve of the largest oil tankers are being used for the storage, rather than transportation of oil, and that if lined up end to end, the tankers would stretch out for 26 miles.

http://en.wikipedia.org/wiki/Oil-storage_trade

I wonder how that helps the economy except for wall street firms and oil companies. I suspect that since there are no longer any laws against energy speculation (the ENRON loophole), eventually 1 in 2 of the largest oil tankers will be used for storage to drive up oil prices. If the oil producing countries decide to increase oil production, I suspect that there will just be more tankers used to store the oil. Prior to the ENRON loophole, 80% of oil futures contracts were sold to companies that needed the oil in the future and 20% to speculators. Now the figures are reversed.

During the crash of 2008 when oil prices fell below $30 per barrel from over $150 per barrel, oil tankers were lined up outside of New York harbor trying to find someone to purchase their oil (most were from storage tankers).

Re: Utterly greedy f**kers??
 

I would.

Re: Utterly greedy f**kers??
 

You sound jealous.

Besides, it's not the banks, it's the law. Change the law to deal with this. After all, I'm sure you only pay the taxes you have to and don't willingly hand over any more than the law requires you to.

Re: Utterly greedy f**kers??
 

Not really.

This "active financing" exemption technically expired at the end of 2011, but Congress, at the urging of bank lobbyists, is expected to extend it once again.