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At that point, you should be complaining about the bailout money (which you've identified as the actual problem), not the bonuses (which you now seem to be clai
by byrneseyeview 17y ago
At that point, you should be complaining about the bailout money (which you've identified as the actual problem), not the bonuses (which you now seem to be claiming are a result of the problem). Arguing against bonuses due to TARP amounts to saying "The mortgage bubble -- propelled by massive government intervention -- has popped. The bailout, another massive government intervention, has had disastrous consequences. The obvious solution is more massive government intervention."
At some point, it has to stop. So I agree -- let the banks fail.
- rdtsc 17y agoMost people seem to regard corporations as moral entities. These companies screwed up. We bailed them out. We expect them to lower their heads in shame, tighten up their belts, ask forgiveness, and promise to not do it again. When they don't act according to our "moral" expectations, we turn everything into a public spectacle, articles start pouring in, blogs are on fire with outrage etc etc.. The problem is that we screwed up at the first step -- companies are not moral entities. They like to present themselves as such (ex. Google's "Do no evil, except when you have to turn in a couple of Chinese dissents over to their government to be imprisoned for life...")