Friday, 5 December 2008

Snark Of The Day

Ezra Klein responds to news that "Citigroup’s top executives, and Robert Rubin, a director and senior adviser, are ready to forgo their bonuses this year":
Am I missing the point of bonuses? I always understood them to be tied to performance, either that of the individuals or that of the company. But the company almost went bankrupt this year and the executives demonstrated themselves almost cosmically hapless. If they were going to get bonuses, then what could the term possibly mean? Bonus for what? A working cardiovascular system?
I agree entirely. If anything bonuses should go to executives without a working cardiovascular system. Zombie bankers might not have saved us from the credit crunch, but they have managed to avoid destroying mankind in an orgy of human flesh consumption, and that's probably worth some kind of reward.

The ineviatable h/t to Kevin Drum.

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