Sunday, February 8, 2009

Sunday, February 8, 2009
Waxing Moon
Saturn Retrograde
Cloudy and mild

Busy day yesterday, but not much of it writing-related. I was at one site in the afternoon and another in the evening. I had internet access in the evening (as I do now) — but that didn’t always mean I could get into the conference site! We had to keep re-setting the password.

And I haven’t found a slot in the tower for my flashdrive, so everything this week might be in longhand.

It’s not a problem; just changes on what I can work.

I’ve got The Lucy Gothic with me to work on, and started that short story I mentioned yesterday, tentatively entitled “Consequences.” It will not be ready for submission by tomorrow, but maybe by the end of the week. I also have the notes for the Ocean Book, if that strikes me.

So, the CEO of Wells Fargo Bank took out a full-page ad in the NEW YORK TIMES today that basically insults our intelligence (should we really be surprised?). In it, he claims that these “junkets” for which they’ve been criticized are not for execs, but for rank and file workers (right) who are more productive when they are rewarded, and don’t come from TARP money, but from bank profits. Now, if the bank was making enough of a PROFIT to afford to afford sending employees on junkets, why did they come whining and screaming and begging to Congress for TARP money? Why did Congress give them billions of OUR dollar if the bank was MAKING A PROFIT? Did they provide Congress with misinformation in order to get more money? I think some serious questions need to be asked, in light of this very expensive, full page ad.

In addition, there was another article, explaining how top executives in many companies are paid something called a “gross-up” to compensate them for the taxes they pay. Excuse me? These guys, who make millions and billions of dollars are reimbursed for their TAXES? That’s not a “gross-up”, it’s a gross out.

Congress needs to come down a lot harder on these institutions, especially now that they’re taking our money for themselves and not actually putting any of it back into the economy so we can pay our bills. And maybe, I don’t know, buy food.

The Executive Gravy Train comprised of our hard-earned money needs to be derailed.

Back to the page, or at least an attempt back to the page. I’ve got to bounce back and forth between several sites today.

I enjoy it, but I can’t get too locked in to “shoulds” over the next few days. It requires being flexible and adjusting as work-related stuff comes up.

Have a great Sunday!

Devon

Published in: on February 8, 2009 at 9:18 am  Comments (4)  
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4 Comments

  1. You make a lot of sense concerning the banking and corporate executives. Do they actually believe the general public doesn’t pay attention to what’s going on?
    It sounds as though you are very busy. I hope everything works out they way you’d like!

  2. Hope you had a productive Sunday. 🙂

  3. Are you on-site this coming week? Hope you can get a lot of work done.

  4. Re WF –
    Nothing gets in the way of a ood blog except the facts. I guess you’re not aware that the LV trip was for Top 50 Mgt Brokers – these are rank anf file staff; or; that WF actually made a profit last year – yes a 4th qtr lose; but a FY profit; or; that the TARP “bailout’ is actually a loan at 5% that WF made the first payment on this month.


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