So I'm not shooting my mouth off about it.
The one thing I have been tempted to write about is the fuss over traders demanding they get their bonuses/retention payments, even after the world has woken up to find it's blown all it's money and will now have to crash on Saturn's couch. Even for someone who doesn't know his ISAs from his FSA, there's something distinctly fishy about a bonus for which there is literally no criteria under which you don't deserve it, short of being fired.
Fortunately I don't have to dirty my hands, though, because Mark Taibbi has done the job for me.
Out in the real world, when your company burns a house down, you're not getting paid by that client. It's only on Wall Street, where the every-man-for-himself ethos is built into an insanely selfish and greed-addled compensation system, that people like you expect to get paid in a bubble -- only there do people expect their performance bonuses no matter how much money the shareholders lose overall, no matter how many people get laid off after the hostile takeover, no matter how ill-considered the mortgages lent out by your division were.That's my favourite part, but the rest of it is great as well.
You expect that money because you think it's owed to you. But what money? The money is gone. Your boss, if not you, set it all afire. You want the money, but where exactly do you think it's coming from?Do you just not understand that that money now would have to come out of someone else's pocket? That it would have to come from middle-class taxpayers, real plumbers, people who didn't make millions over the years in equity and commodity trading?
h/t to MGK.