Wednesday, February 4, 2009

The New Welfare Queens

The NYT has an article on salary caps for banks taking taxpayer handouts. You should be amazed by the sense of entitlement:
“That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,” said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm. “And you know these companies that are in trouble are not going to pay much of an annual dividend.”
Well then, it sure is a shame that you ran your business into the ground and required a taxpayer bailout, isn't it? Frankly, $500K is still excessive considering the poor business leadership that has been demonstrated.

Damn welfare queens want to keep driving their cadillacs.

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