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March 15, 2009 at 11:28 am
Like that, did ya?
I saw Summers on “This Week”, defending it. Said that it was contractual, they tried to ‘limit’ the amounts, but couldn’t stop it because it was in their contracts with the employees. That all the best employees would leave if the contracts were not honored.
At the round table, George Will pointed out that when bankruptcy judges start doing “cram downs”, wouldn’t that be changing a contract the homeowner has with the mortgage holder? He didn’t buy Summers argument about contractual duty.
One of the other guests mentioned that if AIG bonuses weren’t paid, the affected employees wouldn’t go anywhere, there was no place for them to go.
I’d love to get a bonus for running a company into the ground.
March 15, 2009 at 4:18 pm
Knowing what’s-his-name, I wager you don’t get a bonus for running successful company (and he willingly states that you are the brains behind the business).