Wednesday, March 18, 2009

powers of 10

Yes, the AIG executive bonuses are a prime example of hubris and insiders gaming the system - we knew that already - and recovering that money would be nice (especially from those who are no longer with the company, which shoots down the 'retention incentive' argument).

However, let us keep in mind that we are talking about a couple hundred million dollars. Although that sum might make a difference in YOUR life, and the lives of 50 of your friends, don't forget that:

We have poured hundreds of BILLIONS of dollars into AIG, and 1 Billion = 1,000 Million. Think about it and you'll realize that the sums over which the punditry is expending all its moral outrage this week is 1/10th of 1 percent of the actual money (OUR money) being forked over.

Remember, any time The Media repeatedly says 'Hey, Look at THIS!", it's a sure sign that it's a diversion.


beth h said...

Yes, but a diversion from WHAT, exactly? So much crap is circling the toilet right now it's hard to know what's more dire.

Barry in Portland said...

A diversion from the Grand Theft of the Treasury, by the Banks and Financial industry.

For the past 30 years, we've had an economy based on manipulation of paper (with fabulous profits for all concerned), at the expense of all the businesses that actually made things (which were consciously undermined, in order to maximize paper profits).

Maybe someday the Reagan Revolution (Deregulation and 'Free Trade') will be generally recognized as the Supreme Bad Idea of our time.