Giuliani Says Taxpayer-Funded Bonuses Good for Economy


Weighing in, no doubt, on the side of providing fair and balanced coverage of the shameful doling out of bonuses to corporate beneficiaries of federal taxpayer bailout dollars, Rudy Giuliani says, “Not so fast!”  Paying out $18.4 billion in bonuses to executives of corporations that received bailout money means less money for waiters and department store workers.  What?! Really?

Tell me, Mr. Giuliani, how many of those same waiters’ and retail workers’ jobs were saved by rewarding people who helped drive our economy into the ground?  How many other jobs have been lost as a result of the corporate greed and regulatory blindness that made the bailout that funded these obscene bonuses necessary?  As if all of that money was going to find its way into lunch tabs and department stores anyway.  Please.

If you are/were an executive with any company receiving federal bailout funds, are you completely to blame?  Of course not.  Should you be put out of a job?  That’s not for me to say.  But if your company (if it still exists) receives one dollar of federal funds, if yours was one of those deemed “too big to fail,” you should not receive any bonus at all.  And if you still have a job while more than 100,000 lost theirs today alone, be very, VERY grateful that you still have a salary, and humbled by the fact that other people have paid to keep it that way.  For now. 

Otherwise, don’t let the door hit you on the way out.


28 thoughts on “Giuliani Says Taxpayer-Funded Bonuses Good for Economy

  1. Now this is why the moron was never even considered as a Presidential candidate.

    Typical moronic thinking from a politician.

    Ever wonder why we are in the mess we are in?

  2. Giuliani’s comments are despicable and irresponsible. He has no conscience and no perception of the realilty facing our country.

  3. I think that to reward the exec’s of these failed companies amounts to paying the criminals to rob you.
    My wife and I live pretty well on the 70-75k we make a year. We go out 2-3 times a week. Buy what we need to get us through the month and try to put a little away. We don’t have a huge mortgage and I make sure to turn off lights in the unused rooms.
    I have a hard time understanding why someone that is paid such an exoborant salary would be in trouble for not getting a bonus. They should live as though the bonus was not there. It is called “living within your means”. They need to change thier lifestyle and understand the time of ripping off the american people is over.

  4. Completely in the dark on the real world…why are bonuses good for people who have done terrible things. Crawl back in your hole Guliani

  5. I bet Giuliani was against going after New York Mafiosos because they also spent money in New Your.
    So Rudy how many millions of families would be able to afford one more meal or item of clothing if that $18.4 B was not taken from tax payers in every district of the USA. $18.4B divded by 1 million is $18,400. That means we could give 1 million people $18,400. Enough to avoid forclosure. Enough to buy a new car and put Detroit to work. Enough to pay off all their credit card debt. Enough to feed their family for the whole year and leave tips for waitresses in every disctrict of the country.
    Campbell Brown needs to add you to the list of folk that just do not get it. You argure that those who are raping the economy should get bonuses while hard working citizens pick up the tab.
    I’ll bet your NYC waitresses will live a lot better off after those rick bobus babies forclose on themselves and open up moderatly priced NYC living spaces.

  6. All I can say is Wow. And the RNC wonders why they are “out of touch” with voters and on the decline?! Remarks like Giuliani’s and Limbaugh (who said that he hopes the new stimulus fails) really explains the Gallup poll’s new political map.

    Hey Rudy – 20 BILLION is a lot to spend to get a 2 billion return. I”m no economist, but even I can do that math.

  7. It is easy to see why Mr. Giuliani isn’t President! Mr. Giuliani is just another fat cat crook who only cares about himself. It would seem that many NYC people have been swindled again.

  8. Well . . . NY, NY welcome to our world here in Detroit. Everyone needs to experience this!! And I’m not picking on New York per se, but all of the fat cats that are feeding off of us middle and upper middle class that have fallen into poverty. Greed is the most distructive thing going on in this world now and . . . . this is what happens! With this monster being created by what is suppose to be our educated leaders, it clearly appears that perhaps they should go back to school and learn something about ethics. It baffles me as to why they are the ones making all the money and making all of the mistakes, while us pretty well educated people with great ethics, can’t even find a job. Something is wrong with this picture and with the Guiliani mentality. Whew . . . good thing he didn’t make it very far!

  9. WOW – I was going to say this is why you did not make it to the runoff for President, but more clever people already made that point. I just can’t comprehend how you even thought for a flash that is true.

    That 911 dust from ground zero has addled your brain.

  10. Gules, your argument falls short. By using bonuses to employ thousands of workers instead of one man’s bonus, NY would not only keep tax revenue but the little guy would spend the money locally… those big bonuses will leave the area on vacations, villas, private schools, mega mansions in other states, and so forth.

  11. Mr Julie Annie
    This is just some more of the stupid corporate mentality that has run the country into the ground. You should crawl in the same hole as Rush Limbaugh.

  12. Rudy, you support bonuses for Wall Street execs who are already making $200,000 a year just so they can go out for dinner? How are these poor execs going to be able to afford that 2006 Caymus Cabernet? Maybe all the Americans who have lost their jobs should donate their last $50 to every wallstreet looney so they can leave a nice tip when they go out for dinner every night! Get a grip Rudy!!! Thank God you are not the president.

  13. This ludicrous statement shows how clueless and Class Centric Guiliani is!!! We should give the money to regular everyday americans, then we could afford to go out and tip people too!!

  14. This Rudy just being Rudy. The Rudy that no one needs in power.

    It is exactly this kind of thinking why I pay no attention to him.

    He is a self consumed hipocrit. That was merely posturing for future votes.

    God Bless

  15. Gulianni is assuming that the $20B disappears from the economy. This is a fallacy in thinking. If the bonuses weren’t paid to underperforming executives it would have gone to shareholders, consumers or possibly corporate R&D.

  16. Rudy is a moron. If this is Republican leadership, the political party should be having a going out of business sale.

    To claim that the taxpayers should be funding an entitlement program for these WS dirtbags is totally pathetic coming from a national leader of the party that capped welfare and promotes “earned benefits”. Why do those principles not apply to Rudy and his cronies? Bonuses are a privilege in any company and at any time; they are NOT despite what Mr. Guiliani seems to think a reward for driving your company into the layoff, destruction of shareholder value, and creation of the financial paralysis of the country.

  17. When you hear Obama and others state that the whole mentality of Wall Street has to change, you need only look at comments like the ones made by Giuliani here. “Trickle down economics” didn’t help during the big recession of the Reagan era. Not saying things need to move towards socialism or anything, but the rules need to change in order for us to a) get out of the current mess and b) reduce the chances of a similar mess later. Another “change of attitude” that must occur is businesses need to no longer look at “reduced profit” as being an excuse to close doors and fire people. Losing money, yes. But if you’re still making a profit, then that needs to be good enough, at least until things turn around. Firing thousands because you made 20 billion last year instead of 22 billion is unacceptable. Not right now (arguably not ever).

  18. So…. we should have a city where the rich people live, and those rich people should get money whether they earned it or not, and you should be allowed to complain about such an unearned benefit system? Sounds a lot like royalty to me!!!
    How about another $911 benefit dinner, Rudy! Your integrity and political capital ran out years ago!

  19. More is better, right? Then why not give huge bonuses to ALL workers who excel in their jobs; The best chefs, taxi drivers, cops, construction workers? Surely they would spend their bonuses, and they would likely spend their bonuses in in New York, rather than in some foreign resort. Rudy, are we talking capitalism for the many, or just wealth and power for the few?

  20. Giuliani just does not get it.

    Cutting fat cat bonuses means less spending in $500-a-meal restaurants, less spending at Harrod’s of London, and fewer sales for
    Lamborghini. None of which are essential bare necessities and all which are nothing but hedonistic candy.

    That money can go instead to help the tens of thousands unemployed in New York City, their insurance coverage, and to other people who can’t pay their rent of feed their children.

    When there is a recession we have to take care of the people in dire straights before letting the fat cats continue their life of luxury, ESPECIALLY the fat cats directly responsible for the financial fiasco
    who are taking tax payer’s handouts.

    The new measures being contemplated against those fat cats should have a CLAW BACK clause, so not only they get no bonuses in the future, but return all bonuses obtained since they took bailout money.

    Or else they American People just got fleeced again.

  21. Its hard to be humble. This man still believes, the Rich by going out to eat in r estaurants will somehow trickle down and save the economy.

  22. I do not live in NY yet my tax dollars have to benefit another state????? Fine! Let New Yorkers taxes pay for the bail out and bonuses!!!!

  23. Pingback: Skewed « Rummaging About

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