Wednesday, March 25, 2009

AIG Redux

Read this:

http://www.nytimes.com/2009/03/25/opinion/25desantis.html?_r=1

This has changed my husband's mind. Seriously, he is just not as much of a revolutionary as I am, or he is much too nice to people. I'm not sure it changes my mind. Professors are demonized by the media all the time - conservatives say that we are corrupting the youth and that we are dangerous for democracy. And we keep doing our job and we make a fraction of what any financial executive would make. And when the economy goes south, we lose money.

I am still working this out in my head - still turning it over, as it were - but so far, the only thing I find in the least compelling is the idea that Liddy should have his people's backs. I agree with that - whole heartedly. But I have not come to the point that anything else is sympathetic.

6 comments:

Eris said...

Nope, still not sad. $700,000 for a retention bonus is obscene. I don't care where you work.

The Numismatist said...

That made me rethink a few things. Eris is right, the bonuses are still obscene, but the writer certainly has a point. I have felt uncomfortable all along with the way the elected officials have been acting and with the name-calling and veiled threats.

I like the idea of donating the bonuses to worthy organizations.

Eris said...

PS - If that guy thinks that the shenanigans in the "other wing" of AIG did not have a positive influence on his paycheck for years before they came crashing down last year he is living in a fantasy world. For every year he drew a (likely very large) salary at AIG he had AIG's strong profits to thank for it... and those profits were due, in large part, to the sneaky stuff that had been going down.

The Numismatist said...

Ouch, you are making my head hurt.

Unknown said...

There is just no pleasing you Eris - you are much more revolutionary than I am...

Eris said...

What can I say? I know ALL the words to Les Miserables.