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The Word - Keeping Our Heads




 

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I am TOTALLY in favor of court-mandated Seppuku for the leaders of AIG, and all other welfare queens on Wall St with the audacity to pay or receive bonuses.

There is a supposed sound argument for CEOs and executives of failed companies being paid big bonuses, even while their companies are accepting the bailout money. The argument is that these people are highly talented and therefore can easily afford a less riskier job all be it not as high paying. But since they have taken the risk that comes with pulling a big failed company through a crisis, they need to be paid accordingly for the effort. That is the supposed sound argument and I am willing to take it to be sound.

However I am going to see that argument and raise it. If indeed, it is true that these people are so talented, does that talent also not include explaining in words that common folks like you and me can properly understand what you have done so far to save these companies and how successful you have been? After all it is our money, we are the tax payers. It is not money earned through sound business practices, those companies that you head obviously have proved incapable of that.

So if you cannot explain to us in ways we understand how you are spending the bailout money for that reason you are not talented and do not deserve to extract bonuses from that.

If on the other hand you have not used the bailout money properly to save the company that you now head, then for that reason alone, you are not talented enough to afford your bonuses.

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