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February 08, 2009

Flight of ‘talent’ from Wall Street

Some people object to our government capping executive compensation to a mere half million dollars per year if the company in question is receiving bailout money. Their argument is that excessive pay is necessary to retain the best and most competent minds; otherwise these brilliant people will go to competitors.

That is hilarious. This so- called “talent” got us into this huge mess in the first place. And where would they go? Wall Street isn’t on a hiring binge these days.

Catherine Bowser
Overland Park

Comments

Engineer

Casady
Well, yeah, if you want to be logical.

Sammy

The Wall St bonuses are a great example of what happens when you impede capitalism. Without government interference (bailouts), a lot of boneheads who decided to pay big bonuses would've lost their jobs. Now they get to staty in their positions to make more boneheaded decisions. Congratulations.

Casady

Hi Eng:

While your comments cracked me up, I think Pub was merely responding to Buddy's obligatory and obtuse one sided comment (accompanied with the obligatory one sided Youtube clip of course!) with a one sided comment from the other side. I like to think more rational minds don't really believe that Barney Frank and Chris Dodd are solely responsible for a global recession, nor are the Rebulicans and the Bush Administration.

Engineer

whispering
Right on! But to be fair, didn't the Democratics hold control of both Houses of Congress for the last two years? And you have to respect these Wall Street people. Pub 17 has explained how a financial person can tell you infallibly what kind and size of a loan you can take out and carry. This he says is due to their extensive training and expertise. So we have to save and maintain them. It's just that they didn’t seem to do too well figuring out what to buy for themselves.

whispering_to_kc

Our economic problems can be layed squarely at the feet of fancy Barney Frank, the CRA, ACORN, Fannie/Freddie/Rains and the Pelosi/Reid Democrat Congress.

Wall Street and the GOP are blameless. The only cure for our problems is to double the wages on Wall Street to attract their "best and brightest" and refill Congress with the GOP. We should also cut taxes for corporations so they'll go out and hire people to sit around and wait on business to pick up.

Stifled Freedom

In politics, you often dont need a good excuse, you just need any excuse to hang you irrational hat on. Then go forth and do whatever you want.

Pub 17

And your boy George ignored the warnings, like a good Republican should!

BudRog

Fannie and Freddie, hey the government guarantees all those mortgages! I mean Frank Rains said they were "riskless"!

Pub 17

...living from day to day on Little Caesar $5 pepperoni pizzas and AlwaysSave grape soda....

viet-vet1970

The boneheads running Wall Street firms aren't entirely to blame for the economic collapse, Catherine. If the SEC and other federal agencies had been doing their jobs, our financial problems would be a lot less damaging. But you're right. It's hard to believe anybody could do a worse job, even if they're only making $500,000 a year.

 
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