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2009-02-12 Home Front Economy

Bailed-Out Firms Distributing Cash Rewards: "Please Do Not Call It A Bonus"

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Posted by tipper 2009-02-12 06:41|| || Front Page|| [1 views ] Top

#1 will be rewarding their financial advisers with controversial retention payments

Keeping your job is the payoff. Did I miss something that showed with the collapse of so many banks and investment firms their former employees disappeared off the face of the earth? In a capitalistic model of supply and demand, there would seem to be a lot of people with these same skills available to be hired and fewer job openings at other similar businesses. The fact that their corporations had to borrow money to stay afloat certainly indicates these are not the 'best and brightest' [why would you want to stay with a firm on the edge anyway if you were that talented?].

Posted by Procopius2k 2009-02-12 08:16|| 2009-02-12 08:16|| Front Page Top

#2 Two wrongs won't make it right.

These employees haven't claimed be the best or the brightest but they also aren't government workers, who do claim to be the best and the brightest. It seems reasonable to pay people for performance, which is what this is.

I also see no reason for the government to bail out companies and this is an example of why it should not. Let the fit survive and the weak fail. That's the way of capitalism.

Government should not be in the business fo guaranteeing outcomes, whether to Citibank or Henrietta Hughes. They're both welfare queens as far as I'm concerned. And the donk government likes it that way.

Posted by Nimble Spemble 2009-02-12 08:57|| 2009-02-12 08:57|| Front Page Top

#3 These employees haven't claimed be the best or the brightest but they also aren't government workers,..

When you take money from the ~~Mob~~ government, you work for the ~~Mob~~ government. When other governmental entities have taken federal money for decades, they all knew no matter how small the overall amount was in their operations, they had to comply with the orders from Washington. When businesses take a government contract, they have to comply with all the federal regulations. This is not new. As the courts have pointed out in a number of challenges to this modus operandi, don't take the money if you don't want the consequences.

Posted by Procopius2k 2009-02-12 09:51|| 2009-02-12 09:51|| Front Page Top

#4 And to add insult to injury, the banks have used HIB visas to import the "best and brightest" to replace American workers at lower wages, enabling bigger "cash rewards".

Posted by Thealing Borgia 122 2009-02-12 10:14|| 2009-02-12 10:14|| Front Page Top

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