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Originally Posted by pgardn
It does not matter at this point whether the government
knew or not. The fact is we are led to believe this business,
which delved deeply to the edge of illegal derivatives,
was giving performance compensation bonuses BEFORE there was a horrible
performance. This is how big businesses are run that get so
huge and convoluted that no one had any idea how to mind
the store. This company was run as inefficiently as anything
in government. And they cheated. I am sure there are very
competent people in that company that deserve to be paid.
But it is pure folly to take government money while
the rest of the country suffers.
This company was essentially insuring investments without
the funds to back it up. Good luck with that.
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sure it matters because they're all running around saying that they just discovered the bonuses this week. okay maybe some of them aren't lying, like Geithner, just incompetent.
there's plenty of folly, but the majority of it is due to our corrupt and inept elected officials. they're going to save the world by managing all businesses now, good luck with that.
the current bonues as I understand it are primarily retention bonuses, not performance bonuses.