As nice as it is to see anyone bring this up, but the President chastising Wall St. CEOs over their extravagant bonuses is sort of like chastising Yao Ming for being tall. Greed and selfishness are as much a part of them as dunking without having to jump is to Yao.
I did, however, get a laugh out of an interview this morning on NBC’s Today, where some analyst was listing out Wall St.‘s arguments in favor of the bonuses. She mentioned that they would claim that the bonuses are necessary to keep top talent. Apparently, they’re unable to read the Dow or the newspapers (or the web or talk to anyone not in their immediate vicinity but I digress). It’s “top talent” that’s gotten us into the horrible mess, the best thing they could do would be to let them go and replace them with anyone else. It’s hard to imagine they could do a worse job.
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