"Asked about why he had given out $4 billion in bonuses to his Merrill Lynch staff in a quarter in which the company had lost a staggering $15 billion dollars, ex-CEO John Thain typically responded: "If you don't pay your best people, you will destroy your franchise. Those best people can get jobs other places, they will leave." Apparently it never occurs to those who utter such perverse statements about rewarding the "best people," or "the best men," that we'd all have been better off, and saved some serious money, if they had hired the worst men."
[from] Locked into the Bailout State
CELEBRATING ENLIGHTENED ANAL-CRANIAL INVERSION. and a love of beer.
Thursday, February 12, 2009
Posted by Angus MacSurly at 8:47 AM