Paul Tonko Quotes
Taxpayer dollars should not be used as a reward for contractor executives, especially when other segments of society are hurting.
Tonko, Paul. "Tonko Introduces Legislation to Cap Contractor Compensation." Congressman Paul Tonko, United States House of Representatives, 16 Apr. 2013.
In the Great Recession thousands of bank executives of the banks that received government bailouts committed fraud and perjury providing false information under oath and foreclosing on mortgages illegally. There were so many bank felons that the Justice Department decided not to prosecute any of them and let the Banks pay relatively small fines instead. Then the banks paid the crooked employees bonuses. Paul was one of the few members of Congress who favored prosecution of all the guilty bankers regardless of the number.
Many of the richest people continue to acquire more money via illegal and immoral means. See {630537}.
In the Meltdown of 2008, the federal government, in order to prevent a major depression, bailed out the banks and the wealthy bankers whose speculations and greed has caused the investments of other people’s money. There was almost no Federal help for the average middle and lower class American who had not caused the meltdown but had been damaged by it. When the bankers took the bailout money and paid themselves and others huge bonuses, even though the companies had lost billions of dollars under their stewardship. Many people were outraged and raised all kinds of public protests that they were being paid bonuses with taxpayer money. The bankers and conservative politicians accused the protesters of being un-American because they were complaining about other Americans success. The President explained the situation.
Geithner, the Treasury Secretary immediately after the Meltdown of 2008, facing complete collapse of our financial system, among other ameliorations, advocated and implemented many subsidies to bail out the banks most of whom had been greedy, foolish and often dishonest. He even allowed banks to use taxpayer money to pay bonuses to Bank executives who had brought the bank to ruin being a cause of the crisis. However, the banks not only survived but recovered and made huge profits while many of the taxpayers whose funds were used to help the banks were still struggling to make ends meet and it was they who received little, if any, government assistant.
This is one of the great historical quotations. He was, in the 19th century, referring to the past 1000 years of Russian history. The quote has been used many times since then to describe various states and nations and over much shorter periods of time. China and modern North Korea are good examples.
Paul David Tonko is an American politician serving as the U.S. Representative from New York's 20th congressional district. He is a member of the Democratic Party. The district (numbered as the 21st congressional district for his first two terms) is located in New York's Capital District and includes Albany, Schenectady and Troy. Tonko previously represented the 105th district in the New York Assembly from 1983 to 2007.
