Lairs, Thieves, and Politicians...
Some asshat who works for a bank that took taxpayer bailout money actually spent $1 million renovating his office, AND pushed through bonus payouts to his executive staff under the guise of, “If you don’t pay these people, they’ll leave for greener pastures…”. What a crock of shit. I DARE them to leave a job right now.
The two best ideas I’ve heard thus far, either of which will more than likely never see the floor of either house, are $9000 individual tax stimulus and/or a prolonged tax holiday proposition. Yes, I like these ideas because they put money directly in MY FAMILY’S pocket. I kind of wonder why this would be a bad idea in anyone’s eyes. As for the $9000 check, sure some would immediately blow the cash on stupid shit, but not everyone, not this guy. To those who are unemployed, it would mean keeping their house/apartment for a few more months, payoff past due electric bills, etc… For those still employed like me it would mean paring down some debt to put ourselves in better position if for some reason I find myself out of work. A few months ago, I said I was totally cool with the bank bailouts despite the spoils going to those who created this disaster, but after hearing about failing companies giving out bonus payments I’m of the mind that from this point on that the tie goes to the citizen. Can’t decide who should get money? Give it back to the citizens. Let US decide who were going to give it too, how it’s saved or spent. To me, you receive a bonus when your company meets or exceeds predetermined financial objectives. When you don’t achieve these, you don’t get a bonus. It’s as simple as that. There have been times in my career when we got no bonus at all, and times when we got double the plan. That’s how it works.
For what ever plan gets passed this week or next, I hope that our law makers are smart enough to write in language that reserves the Fed’s right to review compensation packages of ALL employees and ensure that reasonable goal based bonus compensation is managed honestly. If you can’t sign up for that, don’t ask for the money.