Sandbaggers Anonymous

For Golfers and non golfers. Sandbagging isn't just a golfing set of tricks.

Friday, October 31, 2008

Wall St executives get bonuses?

So it seems that the people who created this subprime mortgage mess may get year end bonuses from the companies using the money 'borrowed' from taxpayers?

A Bonus payment should only be given if the employee has exceeded performance goals and only if the company overall has exceeded goals.
If a company is going belly-up then no one gets a bonus.

One article said the companies 'have to pay the bonuses or the employee will go to a different company' -
Well... let them go.
Where are they going to go?
45,000 others are looking for the same job so the departing employee could be easily replaced - or not.

Executives who messed up should not get bonuses nor exit fees.

This financial situation is a real mess.

And then I read that one company is borrowing money from the Federal Reserve to pay down a loan from another government agency.
Talk about borrowing from "Peter to pay Paul" but maybe that should be "borrowing from Peter to pay... ah .. Peter"

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