Canuck57 wrote:
"John" wrote in message
...
On Wed, 17 Dec 2008 18:43:22 -0500, Boater wrote:

...nothing. Just another cut'n'paste.
--

John Salmonbait

It is. But I was thinking the other day this bank bailout is a farce.

Why not do it this way. Pass a legislation that a bank MUST pay it's debts
and creditors or face immediate liquifaction. Special chapter 7a if you
will.

Absorb the bank, firing all senior management and board with cause.

Jailing all officers of the bank. And I do mean officers of the bank.

Bail out ONLY depositors of insured cash accounts and that is it. Share
holders, bond holders, etc. get zip. Reverse all severance packages,
bonuses and the like for the last 2 years if over $10,000. Re-adjust the
pensions if needed (likely in the toilet).

All BOD, presidents, VPs, and directors stock options and bonuses are
subject to a 5 year review and a truly independent auditor and then they
are paid. Freaking GM used to appoint the same freaking accounting firm
as their independent auditors for the freaking 50th year in a row.

Wouldn't it be funny to see a CEO's face say that say retired 3 years ago
now get a check for $33K instead of $2M?

Give him a limo ride to a to an all inclusive vacation at the nearest
maximum security state facility.