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Some rationality on the executive bonuses

From Chris Bowers: Watch what they do, not what they say.

Of course, the bonuses do establish perverse incentives, but $18 billion dollars -- less than half a Madoff Unit -- is trivial by the side the the two trillion dollars the Village gave the banks last year -- and the next tranche of our future they're planning to hand over to them this year.

Good optics, though!

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chicago dyke's picture
Submitted by chicago dyke on

what complete hypocrites. of course i'm sure this has only been noted in the blogosphere, and the SCLM has give Dodd and Obama all the positive, "righteous anger" airtime they need to seem like they are "doing something" about the continued rape of the treasury by incompetent banking execs.

Submitted by lambert on

They just looted the Treasury of two trillion dollars and paid themselves $70 billion in bonuses. They're highly competent thieves.

"Incompetent" is just like "we." Watch for it.

NOTE The $70 billion is so last year (and from TARP, naturellement). Making the huffing and puffing over the $18 billion even more diversionary and self-serving. If that were possible.