The Sky is Falling! Or is it?

[Pax]

I watched the senate hearings today & realized that I had misunderstood the bail out plan. I now get (I think) that the plan is aimed at unsticking the market for mortgage related assets to free up capital/liquidity, rather than aimed at bolstering troubled financial firms. Will it work? I don't know. I'm comforted that Warren Buffett thinks it's a good idea.

I heard that as well, and support it.

It is my personal desire that the greedy people who became wealthy (or more wealthy) from the practices that caused this crisis...are no longer wealthy. They should have to help pay for the mess they created.

[chutch]

I think my biggest concerns are the lack of oversight and that the people who caused this mess are going to get out with hefty bonuses.

I've never understood that- if your company is about to go under and you've got $10million+ to give to the CEO you're firing, why wouldn't you put that money towards the company's well-being? Who decided that was a good idea- what's the history behind this practice?

Does anyone else get money if they were to be fired or their company go under?

(Disclaimer: I do not have a lot of knowledge or experience with any of this stuff although I am trying to understand and learn more)