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Konstantinos

Democracy versus Republic? - 0 views

We live in a republic (a group of states that are self governing under the umbrella of a centralized or federal government). The type of system we employ is a representative form of democracy (mean...

democracy republic distinction

started by Konstantinos on 30 Jul 12 no follow-up yet
Skeptical Debunker

McCain Bill Making Medicare Untouchable Via Reconciliation Contradicts His Record - Yahoo! News - 0 views

news.yahoo.com/...486756

reconciliation Medicare amendment prohibition John McCain hypocrite

shared by Skeptical Debunker on 05 Mar 10 - Cached
  • In a direct challenge to Democratic leadership, Sen. John McCain (R-Ariz.) introduced an amendment on Thursday night that would prohibit Congress from using reconciliation to make changes to Medicare. Framed as an effort to protect the sanctity of entitlement programs, McCain's measure would deprive Democrats of a stream of revenue for their health care bill. The party has targeted hundreds of billions of dollars in cuts and savings to the Medicare program that it would turn around and use to pay for other reforms. But for McCain to be the Republican face behind this effort is to distract, a bit, from its seriousness. The Senator has a fairly lengthy history of voting for reconciliation bills that do exactly what his current amendment prohibits: change Medicare. As pointed out by a Democratic source on the Hill, the Arizona Republican has voted for nine out of 13 reconciliation bills that have been offered during his time in the Senate. Of those nine, four included cuts to Medicare.
  • Skeptical Debunker on 05 Mar 10
     
    Republican politicians in general, John McCain in particular - hypocrites of the highest degree. Yes, most politicians sooner or later, one time or another display hypocritical tendencies. However, Republicans and John have taken it to new heights.
Bakari Chavanu

bonuses-put-goldman-in-public-relations-bind: Personal Finance News from Yahoo! Finance - 0 views

finance.yahoo.com/...ldman-in-public-relations-bind

capitalism politics

shared by Bakari Chavanu on 16 Oct 09 - Cached
  • But these days that old dictum is being truncated to just “greedy” by some Goldman critics. While many ordinary Americans are still waiting for an economic recovery, Goldman and its employees are enjoying one of the richest periods in the bank’s 140-year history.
  • For Goldman employees, it is almost as if the financial crisis never happened. Only months after paying back billions of taxpayer dollars, Goldman Sachs is on pace to pay annual bonuses that will rival the record payouts that it made in 2007, at the height of the bubble. In the last nine months, the bank set aside about $16.7 billion for compensation — on track to pay each of its 31,700 employees close to $700,000 this year. Top producers are expecting multimillion-dollar paydays.
  • But its strong financial showing — a profit of $3.19 billion in the third quarter — was overshadowed by Goldman’s swelling bonus pool. Goldman set aside nearly half of its revenue to reward its employees, a common practice on Wall Street, even in this post-bailout era.
  • ...2 more annotations...
  • Even in 2008, the most tumultuous year in modern Wall Street history, Goldman employees reaped rewards that most people can only dream about. Goldman paid out $4.82 billion in bonuses last year, awarding 953 employees at least $1 million each and 78 executives $5 million or more. The rewards for 2009 will be far greater.
  • “We are very focused on what is going on in the world,” Mr. Viniar replied to a barrage of questions about whether the bank should pay outsize bonuses in these hard economic times. “We are focused on the economic climate. We are focused on what is going on with other people.”
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