Wednesday, January 13, 2010
John Stewart nails it again
Or maybe I should say his writers do. The January 12 episode explains the executive bonuses and then they explain the Gay Marriage issue. The executive salaries have just mystified me as well. Why aren't people in the streets? As one board member said if we don't compensate the executives they would leave its like a professional athlete or actor. No its not. First of all the athletes and actor are not being paid with tax dollars. Secondly, if you are an athlete and you have a bad year you won't get a bonus and you may not have a job anymore. These people are getting a bonus for causing the greatest economic melt down in history. The same is true with actors, if the movie is a bomb they are not going to get royalty money. The financial sector operates like no other business in the country. They could have averted the crash by reworking the bad loans that they were carrying. Instead they went to congress and got bailed out and still let the loans fail. And then this bad business model/ management pays their key people huge bonuses for... I don't know showing up and destroying the world economy.