Didn’t we already know the bail out would just see us reamed?

Wall Street bankers in line for $70bn payout | Business | The Guardian.

Financial workers at Wall Street’s top banks are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, for their work so far this year – despite plunging the global financial system into its worst crisis since the 1929 stock market crash, the Guardian has learned.

Staff at six banks including Goldman Sachs and Citigroup are in line to pick up the payouts despite being the beneficiaries of a $700bn bail-out from the US government that has already prompted criticism. The government’s cash has been poured in on the condition that excessive executive pay would be curbed.


I’m sorry, but you did not need to be a clairvoyant to know this would happen. Continued wasteful pay practices were to be expected and could be seen from the other side of the globe. Businesses that can pay this kind of money do not need bail outs. Or, better put, this bail out should not be directed to financial institutions whose pay packages are unreasonable. Leave it to Congress to not put greater controls on our money. I wonder aloud: would this qualify as a moral hazard, or a symptom of the moral hazard that exists with this bail out?

My feeling, if it isn’t already clear, is that it is irresponsible for businesses to pay such big bonuses, particulalry when those same businesses are at such high risk of collapse and losing gobs of money. It is likewise irresponsible for our government to prop companies up that have such irresponsible pay practices.

Lesbians For Sarah Palin

By now, you’ve all heard facts about Sarah Palin (abusing power, firing people, banning books, porking it to the Feds, etc.) Now for some humor. 😉

Lesbians For Sarah Palin – “… we would start this website advocating that our lesbian sisters nationwide turn out in DROVES at all presidential campaign pit stops where Sarah Palin appears. Arrive with large signs openly proclaiming, “Lesbians For Sarah Palin.” Let’s be out and proud about it, my sisters!”

Video: What a downsized office does in France

AOL decided to downsize and close its office in France. The recently downsized staff made this video as an au revoir and thank you for AOL’s years long commitment to its staff. 😉 I’ve heard, but not confirmed, that the staff received a year’s severance which is required by French law.

Update: The lyrics of the song are a mix of French and English. You can get the original lyrics, as well as an English translation.

It is amazing they were able to take it in one long sequence. That shows they probably put some work into preparing for the video. They don’t dress or look all that differently from the Silicon Valley crowd.