A little bit of devil's advocate here... I was reading a site where an analyst was trying give "his side" of the story. He talked about the fact that bonuses in the financial industry were more like the year's income deferred to the end of the year. The base salaries were very small (like 35k-50k a year in Manhattan) and the bonuses were based on performance during the year. For those that are there working 65-hour work weeks, no bonus is unheard of. Now, obviously there are assholes out there and CEOs that haven't pulled their weight, but perhaps we're only hearing some of this situation without the proper context. M-E-H, I'm opposed to all forms of bailout, but I like to know all sides to a situation.
Hey now, hey now, hey now."Guillotine?"That's a little extreme, don't you think?A fire axe would work just as well, and wouldn't require building a decapitation machine.
John Thain said in an interview the other day, and I've heard this echoed from other CEO's, that you HAVE to pay the bonuses or they'll leave. The unsaid follow-up should have been, "OK, where are they gonna go?"I'm all for the guillotine as long as they hold the ropes in their teeth while they're being spanked by Ralphus.
Gosh I wish I could suck at my job (The businesses failed to make money) and not only keep it but be rewarded for it.
Not like anybody didn't see this coming.http://www.time.com/time/business/article/0,8599,1853846,00.html
(not the same Alex as earlier btw)I'm sorry but when your company loses billions of dollars in a year and you're getting a fat bonus that is supposed to "cover" you for a years pay you do not deserve a bonus. It's called a bonus for a reason. It's meant for success not for an excuse to maintain the ridiculously stupid move of living above your means.
Remember that scene in the Dark Knight, where the Joker has his goons douse a huge pile of cash with gasoline, and then lightning it on fire.Yeah, that's a pretty good analogy for the bailout.
Come come, who would think of hurting the dollar kittens? Are you a dollar kitten hurter?
Allons enfants de la patrie...
Personally, I would like to see tarring and feathering make a serious comeback.
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