More on Bonuses and Executives

I think I’ve posted several articles on this, but you keep hearing about it over and over again. The American public is enraged that executives on Wall Street are still getting bonuses. My initial reaction is to be upset, too. But I also put it in some perspective. We have to keep in mind that some of theses people only get a bonus. No bonus = no pay. You certainly can’t expect someone to work for free and that is no different than any other industry.

But, before you get mad that I am defending *them* please keep in mind that I said it’s all about perspective. The average Wall Street executive still pulls a 6 or 7 figure salary. While it may cost more to live in NYC, it doesn’t cost that much more. So while I don’t think it’s right to say “no bonuses” I do think it’s right to cut them back and bring these people down to earth some.

Where I really get bent is the executives that make millions of dollars while driving the companies into the ground. I absolutely reject the argument that big companies need to keep paying them big salaries to retain the talent. Bullshit. Scrap the million dollar bonuses and let them walk if they don’t like it. Where are they going to go? Nobody is hiring and nobody is hiring you if you come from a company that you ran into the ground. What do they think? Someone is going to look at their resume and compare them to another failed executive that ruined a company, but not by as much? Is that how it’s supposed to work? Fuck them. Let them walk. Let them go work at some shit-hole job for minimum wage. They can sell their porches and leave their Manhattan apartments. Hello? Welcome to earth.

And something that really pisses me off? While all of these layoffs are going on. While millions of Americans are losing their jobs because the banks won’t continue to extend lines of credit? The same morons that got us into this mess, the executives, have kept their jobs. That’s right. 90% of the executives at the top banks and businesses getting bailed out have kept their jobs while laying off their employees. What the hell is wrong with us?

Oh, and I’m sorry – but President Obama jumping on his high horse at this point is ridiculous and hypocritical. First off, he is part of the reason we are in this mess. Before becoming President he and his buddies were part of the Fannie Mae and Freddy Mac bust. Secondly, the government missed its opportunity to enforce any type of control of how the money was spent when they gave it over to these guys without any provisions. Sorry Barack, but it’s too late, now. You can’t just step in and tell them how to run their companies.