Friday, March 20, 2009

Regarding Bonuses Paid to Employees of Bailed Out Financial Institutions

Bonuses paid to the professional fucktards that are driving our economy into the ground. Just another of things that make D's bullshit meter top out. As reported in the NY Times today, I just want to let some of the statements made by bank executives of bailed out financial institutions sink in.

Bank executives, who requested anonymity because they did not want to further alienate lawmakers, said their employees were on edge and many would face severe financial hardship if they were severely taxed on money already paid.

“It’ll impact tens of thousands or maybe hundreds of thousands of people,” said Alan Johnson, managing director at Johnson Associates, a compensation consulting firm in New York, noting that the tax would apply to a bonus recipient with family income of more than $250,000. “If you’re a receptionist and your husband is a doctor, your $5,000 bonus just vaporized. It’s not just the C.E.O.’s.”
Holy shit! There are receptionists at A.I.G. getting $5000 bonuses? Where the **** do I sign up for one of THOSE jobs? I worked for 15 years in various companies and institutions as a professional, a manager, and your average worker. Never in all that time did I ever receive a raise based on performance that amounted to $5,000 in a single year. And yes, I lived in an expensive urban area (Chicago). It took me YEARS to increase my salary by $5K. What in the world is a RECEPTIONIST doing that is worth that kind of bonus? On average, my salary between 1986 and 2000 increased by a little over 2% per year. The only real increases in salary I achieved were by switching companies and seeking better jobs based on increasing years of experience. Contrast my career with this:
But several executives at Wall Street banks said they were being unfairly caught up in a hasty response by Washington that would ultimately deliver a sharper blow to their companies than to A.I.G., which set off the furor. One bank executive said employees were coming into his office in tears.
Yeah. Tears suck. Just like the tears of people like me who have lost more than 50% of their retirement funds because these employees played fast and loose with the American economy and fucked the rest of us over. Remember folks, we aren't talking about poor people with low incomes. We are talking about folks with family incomes greater than $250K. We are also talking about taxpayer funds. Every company I ever worked for that had a history of giving out bonuses tied those bonuses to performance and to the overall health of the company. If the company didn't do well, bonuses were scrapped. Capish? I would like to point out that I made $15K last year. A $5K bonus would amount to 30% of my regular income. Cause you know, what I do is soooooo much less important than that of a receptionist at AIG.

When we talk about people with their freakin' priorities out of whack, I think we have hit the nail on the head. Someone needs to hit these folks in their pocketbooks. I feel sorry not one whit for the tears and tribulations of overpaid professional failures. Suck on a little hard times, you pin-stripe wearing, entitlement thugs. Kick the buggers to the curb I say, and it appears that history is on my side. For the health of the economy and for the love of justice, fire these idiots and how.

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