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Congressman Barney Frank tells it like it is regarding executive bonuses (paraphrased because Frank talks so damn fast):
"What I want to know is, what are these guys going to stop doing if they don't get these bonuses? The whole notion that you have to bribe very highly paid people to do their job is nuts...it's very obnoxious."
I'm not necessarily against the idea of incentives for a job well done but first of all, the job wasn't "well done." Anyone who helped wreck their company to the point that it had to be rescued by the beleaguered American taxpayer deserves a pinkslip, not a multi-million dollar bonus. Not even a multi-thousand dollar bonus. Pinkslip. Canned. Bum's rush. Out on their ass. Finito. Buh-bye.
Second, the very idea that these guys just deserve these kinds of bonuses suggests that they are just better than the rest of us. I don't know about you but I haven't gotten an actual bonus in years. I've gotten little raises and I haven't even gotten one of those in years. And yet somehow...I KEEP SHOWING UP AND DOING MY JOB for no more "incentive" than my very average paycheck and insurance. So Frank is right. The idea that these Wall Street "masters of the universe" somehow have to be incentivized on top of their already lucrative salaries just to do their job is nuts. Obnoxious. It's got to stop. It's been more than proven that rewarding these guys does absolutely nothing for the country and anyone who wants to spout some right-wing garbage that shoveling more money into the coffers of richer-than-God executives somehow keeps the economy healthy by spurring American innovation and creativity and oh, it all just trickles down to the rest of us, doncha know, well...just...go away. Go to China. You'll love it there. Your kinda place.
"What I want to know is, what are these guys going to stop doing if they don't get these bonuses? The whole notion that you have to bribe very highly paid people to do their job is nuts...it's very obnoxious."
I'm not necessarily against the idea of incentives for a job well done but first of all, the job wasn't "well done." Anyone who helped wreck their company to the point that it had to be rescued by the beleaguered American taxpayer deserves a pinkslip, not a multi-million dollar bonus. Not even a multi-thousand dollar bonus. Pinkslip. Canned. Bum's rush. Out on their ass. Finito. Buh-bye.
Second, the very idea that these guys just deserve these kinds of bonuses suggests that they are just better than the rest of us. I don't know about you but I haven't gotten an actual bonus in years. I've gotten little raises and I haven't even gotten one of those in years. And yet somehow...I KEEP SHOWING UP AND DOING MY JOB for no more "incentive" than my very average paycheck and insurance. So Frank is right. The idea that these Wall Street "masters of the universe" somehow have to be incentivized on top of their already lucrative salaries just to do their job is nuts. Obnoxious. It's got to stop. It's been more than proven that rewarding these guys does absolutely nothing for the country and anyone who wants to spout some right-wing garbage that shoveling more money into the coffers of richer-than-God executives somehow keeps the economy healthy by spurring American innovation and creativity and oh, it all just trickles down to the rest of us, doncha know, well...just...go away. Go to China. You'll love it there. Your kinda place.