This week’s Kunstler

Clusterfuck Nation is always good for a grim chuckle. From “Forget about ‘Recovery‘”:

Last week, New York State Attorney General Andrew Cuomo hauled Bank of America chief Ken Lewis into his office to explain who, exactly, received an aggregate several billion dollars in bonuses late in 2008 after the US Treasury forked over billions of dollars in TARP money to his bank. That was a good start. Mr. Lewis, being lawyered-up to the max, had the temerity to reply that answering the question would compromise his ability to keep talented people in his employ. For that impertinence alone, Mr. Lewis ought to be dragged over fifteen miles of broken chardonnay bottles behind a GMC Yukon — but that is not how we do things in American jurisprudence. To be more realistic, a simple indictment would be in order, and then Mr. Lewis can answer this question, and a few others, in the comfort of an air-conditioned courtroom. Ultimately, that might lead to Mr. Lewis becoming the wife of a bodybuilder in one of New York State’s houses of correction — a just outcome that would go far in rejiggering the nation’s expectations about how people in authority ought to behave. And such an outcome might lead to the conviction of many other brides-to-be from the Wall Street debutante pool.

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  1. #1 by dean on March 9, 2009 - 8:25 am

    “Mr. Lewis ought to be dragged over fifteen miles of broken chardonnay bottles behind a GMC Yukon ”
    I doubt the Yukon would make it that far. A better sentence would be for Mr. Lewis to have to MAINTAIN a GMC product for a year. (bad humor off)
    I would point out that it isn’t only folks in Mr. Lewis’ position who have the “I and my friends deserve our money” mentality. I live near, and work with, many people who feel that the heads of these banks did nothing wrong, that they’ve worked hard and have made America “what it is”.
    They may have, but I don’t think that currently “making America what it is” means what they want it to mean.

  2. #2 by Angel on March 9, 2009 - 9:18 am

    These people FAILED at their jobs; wrecked the economy of the entire world! They have the nerve to expect a bonuses that exceed what most people earn working successfully at their jobs. Now people who were working successfully at their jobs are losing them because of these banking f***ups and we’re still expected to pay bonuses to “keep good people”! Seems to me we need new people who do things differently. Like using the TARP funds to make loans, unstick the flow of money, solve their asset problems instead of lining their pockets. But what do I know, I’m just a girl nerd; I “don’t understand how the real world works(quoteing my father).” *rolls eyes* Stop the madness!

  3. #3 by Angel on March 9, 2009 - 9:28 am

    I’ve thought about it and I think I’d like to see them offered a choice between life in prison or one of my old jobs: disposing of old surgical specimens — open container, drain off old formalin, specimen and container goes into red bag, formalin treated and disposed. For $8.00/hr and all the rancid placentas, colons, and such you can stomach.

  4. #4 by NaiveIntellectual on March 9, 2009 - 12:18 pm

    @Angel
    Id like to point out, destroying the economy of an entire world is a huge accomplishment! Best ive been able to do professionally is ruin peoples dinners by pointing out that tipping waiters isn’t included in gift certificates.
    Im pretty sure if you were to scale up my wage in accordance to lives ruined, that would be worth billions in bonuses!
    oh… whats that you say? their job was to make prudent banking decisions, and not to ruin lives? darn!
    Also, bah humbug to your father! the most sensible people i’ve ever met were girl nerds… and identify as female transgendered nerds, those two groups know whats going on more than us silly white males.

  5. #5 by Art on March 9, 2009 - 1:27 pm

    … “had the temerity to reply that answering the question would compromise his ability to keep talented people in his employ.”
    Based on his and his employees documented performance one has to come to the conclusion that, at least within the executive side of things, there is no talent. Well below the level of talent they have shown a complete lack of competence.
    By my estimation they would do well, could scarcely do any worse, if they fired all the executives and replaced them one-for-one from the janitorial staff.
    This is essentially why I laugh every time someone says that the government can’t take over the banks because they wouldn’t know how to run them. The existing executives haven’t demonstrated any ability to run them. Hard to see how the government could do any worse.

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