An Ode To Wall Street

With each passing day of this recession, I find myself increasingly annoyed by these bankers and money men of Wall Street who basically ruined the economy for the rest of us. The latest outrage of course is A.I.G. trying to pay out $165 million in bonuses to its executives.


It's just infuriating that a company who recklessly bet the house on housing mortgages and failed could even consider rewarding its executives with bonuses.

I think it's also quite remarkable how the mistakes of this sector has such massive ramifications on all of us. I mean, a lot of us did nothing to deserve this, yet somehow, I find my salary being frozen because businesses are in cost-cutting mode. I see round after round of layoffs from companies all around me. I have friends struggling to get enough work in order to pay the bills. A quick look at my retirement and investment accounts will reveal something synonymous to a large impact crater. I looked at my savings account, and interest rates have come all the way down to 1% which makes holding cash a pretty poor return on investment, even though it's one of the few safe havens left (it's practically a disincentive to save). All of this is happening to everyday people, and yet we're rewarding those who engineered this financial disaster.

And so, I salute Wall Street for creating such a glorious housing bubble, and making off with a ton of cash, and then having the balls to pat themselves on the back with bonuses after they burned down that house. Kudos.

/end rant.