John Mack, chief of Morgan Stanley, asceticso I'm reading this article about how top executives at Merrill Lynch, Morgan Stanley, etc. are selflessly forgoing their bonuses... and I'm thinking.... wait a second... the non-top executives still get a bonus? wtf is that? How badly does the banking industry have to do to not get a tip? Do you really think you deserve it, guys? Ruin everyone's life* and the entire country of Iceland, and you still get some Christmas love?
I'm very bitter because I didn't get a meal allowance in Orlando.
* ok not mine, but only because I have no savings
One of the interesting things to come out of the bailout fiasco is that it is clear how little Congress knows about the country. Many Congress people were hard on the auto people (who clearly deserved to be seriously shamed) because they could get their minds around the whole topic: they've owned cars, bought cars, had problems with cars and understood how cars are made. But when it comes to big time finance no one wanted to admit that they didn't know what the heck Sec. Paulson was talking about and how mortgage failures in the USA ended up pissing off the whole country of Norway and helping to send Iceland back to herring. They'd have to say "Um...Sec. Paulson, I know I've been on the Bank and Finance Committee for 10 years, but you have to dumb down this whole credit liquidity reinsurance problem for me because I just don't understand it and I have no idea how much money really is flowing around."
ReplyDeleteI'll buy you dinner if you want sometime lizzy.
ReplyDeleteanonymous men always let me down :(
ReplyDelete