I have to give Obama some props for this salary cap condition for the bailout babies, though no doubt they'll find plenty of loopholes to slither through. The dumbest argument against this common-sense proposal is that the "talent" -- you know, the fucking bozos who lost the money in the first place -- would go elsewhere.
Right, because companies who have managed to avoid this monumental clusterfuck, through prudence and competence, that's exactly what they're looking for, some asshole who loses other people's money and expects eight figures for it. Nothing burnishes a résumé better than a bullet point relating how your inability to comprehend anything outside a risk-management spreadsheet put your brokerage house in the TARP soup line with the rest of the douchebags.
If the biggest argument against a bailout salary cap is that the John Thains of the industry might go John Galt on us, then it can't happen soon enough. A few more million jobs and homes lost and they may have to head for the hills anyway.
I wouldn't credit the assholes who make such "arguments" with either intelligence or honesty anyway; but we can also reply that there's tons of talented people out there that can't wait to apply their management skills for half a mil a year. Talent is not what propelled these asswipes to the top of their little casinos anyway. It was the recklessness of alpha-males, and the douchebaggy balls to pretend that their gambling moves were "inspired, bold" management. Fuck'em.
ReplyDeleteIn 1933, the enraged masses strung up about 30 of these shitheads. Now we can't even be allowed to gently excoriate their asses.