Monday, October 6, 2008

Shameful Mathematics.

Hello Friends,

Here's a a disgusting little tidbit I just read on the news feed. The chairman of Lehman Brothers, you know the gigantic bank that collapsed last month and begged the government (I.E. you and I) for an even more gigantic assistance package, collected over $480 million of bonuses and payouts since the year 2000. If my math is correct...and the calculator says it is, this man ALONE could pay off 2,244 mortgage loans in the United States based on the average home price of $213,900. The best part about this guy? When the congressman from California asked him if that seemed fair he responded by saying (and I paraphrase) It's not that much money.

Now let's figure that there are maybe two hundred people in the US that have received that kind of money over the last eight years. That equates to $96 Billion, divide that by the average home price and we come up with 448,807 fully paid off homes in the US. I know that some people make more money than others and that some people borrowed way beyond their means. But why should some family who has tried their best to be responsible foot the bill for people who are irresponsible? Why should men with literally TONS of money not help the people who have made them rich? It's immoral, it's unethical and frankly, it bums me out.

Concerned,
Phill

No comments: