Saturday, December 19, 2009

Taken to the woodshed over TARP

"“I believe that the bonus system should better reflect reality and personal performance. The reality is that it’s tough to make people believe that a firm can pay out billions in bonuses when they are losing billions and have to get financial aid from the government!” He paused, probably to check his stocks on his Bloomberg.

The lecture continued: “The story that ‘We have to pay these bonuses and high compensation packages to retain and attract good people and stop them from leaving’ doesn’t hold  water these days! Not when there are few openings, few companies are hiring and most are laying off.”"

Continue Reading...

No comments: