Bonuses should include an invitation to testify before Congress.
Now that TPM's reporting the likelihood those bonuses will be paid to avoid expensive legal battles, that leaves us with few options to mitigate the public outrage. It's like someone put a lid on a pot of boiling water, but did not turn down the heat.
Something's going to boil over.
One of the best ways to simmer this down would be to automatically invite every bonus recipient, foreign OR domestic, to pay a visit to one or another pertinent congressional committee, and those who refuse to show up willingly could be compelled to do so, especially those domestic "bonees".
Put a high personal-privacy price tag on those bonuses, so that in the future, brokers will consider their actions seriously BEFORE they collapse the markets, rather than after it is too late, and rather than obediently rolling over for their CEO's in these fraudulent schemes, they might temper their greed with caution and offer those CEO's some practical resistance.
As the story unfolds, I am even more convinced this is hush money to assure none of those brokers will spill the beans on their bosses. If we have no option but to pay the bonuses, then lets follow up with some investigations that use the same list to get to the bottom of the economic debacle we are struggling to climb out of.
Their rather difficult catch-22 is that, to hush them up, the "boners" will identify the "bonees" for all the world to see, especially if Cuomo gets his lists.
We should include a very nice formal invitation to visit Congress, with every bonus check.
Something's going to boil over.
One of the best ways to simmer this down would be to automatically invite every bonus recipient, foreign OR domestic, to pay a visit to one or another pertinent congressional committee, and those who refuse to show up willingly could be compelled to do so, especially those domestic "bonees".
Put a high personal-privacy price tag on those bonuses, so that in the future, brokers will consider their actions seriously BEFORE they collapse the markets, rather than after it is too late, and rather than obediently rolling over for their CEO's in these fraudulent schemes, they might temper their greed with caution and offer those CEO's some practical resistance.
As the story unfolds, I am even more convinced this is hush money to assure none of those brokers will spill the beans on their bosses. If we have no option but to pay the bonuses, then lets follow up with some investigations that use the same list to get to the bottom of the economic debacle we are struggling to climb out of.
Their rather difficult catch-22 is that, to hush them up, the "boners" will identify the "bonees" for all the world to see, especially if Cuomo gets his lists.
We should include a very nice formal invitation to visit Congress, with every bonus check.
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I spell it S-U-B-P-O-E-N-A.
March 17, 2009 11:57 AM | Reply | Permalink
I spell it A-C-C-O-U-N-T-A-B-I-L-I-T-Y.
Next please...........
March 17, 2009 12:26 PM | Reply | Permalink
PRICELESS GROUCH. But Auntie is not half bad either.
March 17, 2009 12:44 PM | Reply | Permalink
I still like the gilded invitation in every paycheck idea, make it look real classy. Then if they refuse, sic the subpoena on em'.
"You are CORDIALLY invited to attend a gala event at the __________ committee room in Congress. Please bring all records pertaining to derivative trading and credit swaps while you were an employee of AIG!"
An RSVP would, of course, be required.
March 17, 2009 1:09 PM | Reply | Permalink
Congress is the one that wrote the clause in the stimulus bill that bonuses must be paid if a contract was entered into on or prior to 2/11/09
Blame Congress, don't blame AIG
March 17, 2009 11:03 PM | Reply | Permalink
What a great idea! Yes. ;)
March 17, 2009 1:49 PM | Reply | Permalink
Spend more tax money on a witch hunt. Yep, that's the ticket. You do realize this is less than 1% of all the money we gave to AIG? Why aren't we taking a closer look at where the rest of it has gone?
I'll tell you why. The money was given to them with no strings and no oversight. Our government threw money at a problem hoping it would go away. Imagine their surprise when the drug addict kept acting like a drug addict.
All of this grandstanding by the government is mere smoke and mirrors to get us pissed off about something that is small in comparison to their whole grand screw-up. And you are falling for it hook, line and sinker.
When are we going to wake up, open our eyes and admit the emperor has no clothes?
March 17, 2009 4:02 PM | Reply | Permalink
Hey, Robby, don;t you suppose that if those brokers are investigated, all those shiny objects will be unglittered?
Seriously, you seem allergic to justice or something.
March 19, 2009 12:37 AM | Reply | Permalink