Tone Deaf Gall

So, the incompetents/crooks, choose your descriptor, who created the financial and economic mess we’re in seem to think-believe-affirm that they out to get bonuses.

And YES, they DID, create this mess. The typical up and down of capitalism’s business cycle had been attenuated. The fact that things are as bad as they are, is due to these so-called-CEOs’ (and other gamers’, of the ever less-regulated financial system) greed running amok.

Now, at AIG, these people (and I use this term with some trepidation), who cost their own company untold losses, inflicted huge expenses on the public, and hammered not only the U.S. economy, but that of the world, want bonuses.

Funny, I thought bonuses were given to recognize some over-and-above achievement, to share the monetary success in good times, or even to retain good people. None of these possibilities apply.

Further, we’re told that it would be legally difficult to prevent these pre-arranged bonuses from going through. Let’s take this as true, though the Armenian saying, “necessity dissolves the law”, comes to mind.

The other day, upon receiving an online petition signature request to address this issue, I came up with this idea: fine, let the cretins take their bonuses. Then, Congress should tax the bonus amounts (and only the bonus amounts, though these creatures are probably overpaid regardless of other considerations) at a rate of 110%. This restores the money to the government/public whence it came, and teaches these tone-deaf people some respect for people who are suffering because of their incompetence, greed, and or criminality. If they forgo the bonuses, so be it, then we’ve at least restored the status quo ante. It was heartening to see that Congress is moving in the direction of taxing these amounts, as reported in this morning’s paper.

This should apply to ALL entities that have been saved from disaster, or otherwise assisted, by the infusion of government/public funds, not just AIG.

We hear complaints about the gall of the “mafia” in Armenia. These corporate chieftains’ actions make Yerevan’s moguls look like pikers.

Let your Member of congress know how you feel about this a latest outrage. And, remember these days, the next time some smooth-talking right wing/Libertarian type comes around preaching the glories of deregulation. Teach your descendants about them, too, so the lessons now being re-learned (those first confirmed during The Great Depression) don’t get forgotten again.


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