In the movie Wallstreet, Gordon Gecko played by actor Michael Douglas announces that â€œgreed is good, greed is right, greed works.â€ What he was promoting was the free market. The free market will always solve a problem faster and more efficiently and it is mainly the result of maximum reward for work done.
Greed motivates people in amazing ways. Today the United States Treasury Department approved 10 banks to repay over $68 billion in bailout money. Its amazing how 10 of the nationâ€™s largest banks who just months ago were begging for billions of dollars of money in bailouts have suddenly found a method to pay off their Troubled Asset Relief Program (TARP) accounts.
How suddenly did these trouble banks teetering on the edge of financial Armageddon being one with drawl away from collapse suddenly find money? Well it turns out that our 99% worthless government decided to do one good thing and that was to limit compensation to companies receiving a bail out.
Greed prevailed and suddenly money is found and debts are paid offâ€¦Behold The Amazing the power of Greed.
So far, 16 of the 19 banks have raised $75.2 billion, mostly by selling common stock.
Then there is the down side of greedâ€¦ The morons responsible for these incredible bailouts continue to try to take credit for the â€œalleged improvementâ€ of our economy.
These repayments are an encouraging sign of financial repair, but we still have work to do,Â Treasury Secretary Tim Geithner said in a statement.
Did Obama invent economic recover too?
White House Set to Appoint a Pay Czar Wall Street Journal…
“Bureaucrats managing companies does not work, politicians dominating the economy does not work,” Newt Gingrich at GOP fundrasing dinner. Fox News