It sure is comforting to know that the big banks and their executives have now officially weathered the financial crisis without even a wrinkle to their $200 shirts. Yes, their little playground games with the Fed and regulators ended on Friday, March 21. While the middle class continue to ineffectively bemoan our stagnant or disappearing wages, bank executives again received a nice raise.
So bank dividend increases are all the current rage among the Jamie Dimon's of the world. They gamed the regulators once again. Going along with the "stock issuance instead of massive bonuses to enhance long term vs short term thinking" - only to pounce with obscene fortune building by capturing hefty dividend increases now allowed since the banks have been pronounced as having recovered almost unscathed.
While state and local governments are arguably still in the early stages of monetary crisis, the banksters have moved merrily on. One can just envision the chatter at their cocktail parties forecasting their gains in wealth while back-slapping each other about the awesome combination of their most recent victory on top of successfully reducing President Obama to Gerald Ford by orchestrating the dismissal of the notion of ending the tax cuts for the wealthy.
Congrats, guys. Just keep in mind that, with each passing day, the citizenry will become more and more aware of what is taking place in our country. Only suckers will buy the idea that the dividend increases are good for pension funds. No - the primary beneficiaries are once again the perpetrators of the crisis. It's OK though - many have noticed the impeccable timing with the nation's attention focused on Japan and Libya. The coming of spring and summer will bring a refocus on what you have rendered and continue to render. Each move of this nature will merely strengthen the coming payback. It was dumb of you to take advantage when we weren't looking. Just a matter of time now...........
