BP oil execs get bonus for "safety"

[BigRob]

Well, no one in their right mind keeps large amounts of money in passbook savings, as the rate of return is less than the rate of inflation. Of course, the rich do use banks however.

Agreed, a generic savings account with today's rates is a stupid move, but the point is even in the absence of a typical savings account, "rich" people still use banks for numerous things.

 

[dahermit]

This is more insanity....rich people don't use banks? Are you serious?

Do not put words in my mouth. Rich people do not put large amounts of money (bonuses), in savings accounts.

Additionally, you are sitting here trying to tell us that "rich" people don't use their money because they are busy using it to day trade and look for higher returns....anyone else see the glaring contradiction?

Explain the "contradiction". The rich use their disposable income (bonuses), to make more money in ways that do not necessarily do anything that would stimulate the economy. Being a "parasite"( high volume stock, small minute by minute buy-sells in response to changes), on a stock, does nothing for the economy including the company whose stock is being bought/sold inasmuch as, the stock is held by privet concerns (not being sold by the company).

Where as the poor, being fiscally naive, tend to put their meager disposable income in Bank or credit union savings accounts.

 

[dahermit]

This is more insanity....rich people don't use banks? Are you serious?

I posted:
"The rich do not put money in banks. Putting money in banks is the act of the financially naive; the interest rate is too small, inflation eats up the interest. The rich are not financially naive. The many poor however, deposit their meager savings in banks, not knowing any better."

"...put money in banks...", as in SAVING ACCOUNTS.

"... deposit their meager savings in banks..." as in SAVINGS ACCOUNTS.

Now how did you twist that to say "rich people don't use banks? Of course they do, in regard to checking accounts, temporary deposit (until they can move it to something more profitable).

 

[dahermit]

Agreed, a generic savings account with today's rates is a stupid move, but the point is even in the absence of a typical savings account, "rich" people still use banks for numerous things.

Well, finally the light goes on.

 

[tomibraniste]

i don t think so dehermit )

 

[Pottersville]

Transocean gives bonuses after Gulf of Mexico BP spill

Anyone know how I can get a job as top executive, where even if I screw up, I still get a bonus?

Yes, chairman of Goldman Sachs.
You'll also get a cabinet post.

 

[PLC1]

Yes, chairman of Goldman Sachs.
You'll also get a cabinet post.

That settles it. I'm sending in a resume.

 

[TruthSeeker]

Do not put words in my mouth. Rich people do not put large amounts of money (bonuses), in savings accounts.

Explain the "contradiction". The rich use their disposable income (bonuses), to make more money in ways that do not necessarily do anything that would stimulate the economy. Being a "parasite"( high volume stock, small minute by minute buy-sells in response to changes), on a stock, does nothing for the economy including the company whose stock is being bought/sold inasmuch as, the stock is held by privet concerns (not being sold by the company).

Where as the poor, being fiscally naive, tend to put their meager disposable income in Bank or credit union savings accounts.

You have a very narrow-minded theory (and that's all it is) about how rich people increase their wealth, spend their money, and save their money.

I agree that stock market manipulation is a big problem in the financial markets, and investments banks like Goldman Sachs need to be seriously reeled in.

You are forgetting that "rich" people also spend their money and invest their money in legitimate ways.

Most own companies that employ hundreds to thousands of people. They purchase automobiles, homes, clothing, and all the things that the rest of us do, except on a greater scale.

This absurd theory that most "rich" people are greedy carpetbagging thieves who obtained their wealth illegally or illegitimately is ridiculous.

Envy sometimes clouds the thought processes of those who have been less financially successful during their lives.