Weighing in, no doubt, on the side of providing fair and balanced coverage of the shameful doling out of bonuses to corporate beneficiaries of federal taxpayer bailout dollars, Rudy Giuliani says, “Not so fast!” Paying out $18.4 billion in bonuses to executives of corporations that received bailout money means less money for waiters and department store workers. What?! Really?
Tell me, Mr. Giuliani, how many of those same waiters’ and retail workers’ jobs were saved by rewarding people who helped drive our economy into the ground? How many other jobs have been lost as a result of the corporate greed and regulatory blindness that made the bailout that funded these obscene bonuses necessary? As if all of that money was going to find its way into lunch tabs and department stores anyway. Please.
If you are/were an executive with any company receiving federal bailout funds, are you completely to blame? Of course not. Should you be put out of a job? That’s not for me to say. But if your company (if it still exists) receives one dollar of federal funds, if yours was one of those deemed “too big to fail,” you should not receive any bonus at all. And if you still have a job while more than 100,000 lost theirs today alone, be very, VERY grateful that you still have a salary, and humbled by the fact that other people have paid to keep it that way. For now.
Otherwise, don’t let the door hit you on the way out.