Fri, 30 Jan 2009

Pay cap proposed for Wall Street 'idiots'

What amazed me about this was Giuliani defending them:

"If you somehow take that bonus out of the economy, it really will create unemployment," he said on CNN's "American Morning." "It means less spending in restaurants, less spending in department stores, so everything has an impact."

OK, Rudy, so why is it OK to limit how government dole money is spent by welfare recipients but not investment banks? Wouldn't restaurant spending by welfare mothers at MacDonalds help maintain full employment as much as Richie Rich blowing his bonus at Chez Jean?

If you seek the genesis of class warfare, look no further.

One day after President Barack Obama ripped Wall Street executives for their "shameful" decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough.

(link) [CNN.com]

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