Bankster of the Day

toxic leaders

Mon, 02/02/2009 - 10:30pm — lambert

Pravda runs a video series called "On Leadership." Here's a hilarious video from Hank Paulson. On compensation practices:

"[PAULSON] You have a culture which is all about paying individuals a percentage of the profits they make trading. That's a recipe for disaster. ... They take chances and if-- if-- if they lose, they're losing someone else's money."

No shit, Sherlock.

OK, we're not going to pay these guys money to take chances anymore? But we were paying them the big bucks exactly because they were supposed to be able to assess risks. And now that theory's down the tubes.

So, why not turn the banks into regulated public utilities?

Oh, and the "excesses" were due to "imbalances in the global economy." Uh huh.

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Chat box

22:03:36 Valley Girl I'd sure like Bruce Dixon's take on the Conyers comments. Just emailed him.
21:03:43 lambert Thanks, Jeff.
18:16:03 Jeff W lambert, I wrote to NOW about that Elizabeth Warren video not playing and got a response of sorts back, which I sent to you as a private PM. Just FYI.
02:28:28 hipparchia the first thing they told us my volunteer training: humans are natural born rescuers.
00:18:34 lambert One more study... [url]
23:57:37 lambert Joe Bageant is god. [url]
01:00:54 lambert The actuary was a whistleblower under Bush, too. [url]
00:47:48 hipparchia that's ok, jason stands ready to help smear the actuary quoted in that wapo article [url]
23:16:16 lambert Elders under the bus on Medicare, naturally. [url]
20:11:01 lambert 19:49:09 +100
20:10:18 lambert Capitalism in a world where we will throw as many taxpayers under the bus as necessary....
19:49:09 hipparchia elizabeth warren for president!
02:24:14 Jeff W Elizabeth Warren on the economy on PBS's NOW: you can watch it online here: [url] "If [Congress] gets it wrong, the country we knew is gone."
17:52:53 Davidson So, of course they're not going to show the truth about boxing her in from the beginning.
17:51:57 Davidson Yeah, that was just a comment in general, like, "Not even the RBC decision warranted scrutiny."
15:38:02 lambert That's not the RBC meeting, though. That's the smoking gun, beyond "Smart politics" (Wolfson).
14:17:16 Davidson Notice how everyone still avoids exposing the RBC decision
14:16:04 Davidson Can someone do a post on this? [url]
10:04:26 lambert Jeff, thanks. Fixed.
02:05:14 Jeff W lambert, your "especially with Obama's youthful base" link here [url] is broken. :(