Mar
28
2009

Digest for March 25th through March 27th

Here are some of the people writing about some of the stuff I wish I had time to write about, for March 25th through March 27th:

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Written by terrance in: daily digest |

2 Comments

  • KipEsquire says:
    March 28, 2009 at 9:59 am

    “AIG Exec Whines” link is bad.

    And besides, he wasn’t “whining” — he was trying to provide facts. Or don’t radical liberals care about facts?

  • terrance says:
    March 28, 2009 at 1:11 pm

    Not sure why that link didn’t work. Here’s the correct link. And I personally don’t have a dispute with the factual presentation part.

    Neither does this guy (a non-practicing attorney), but he still goes on to say why he has no sympathy for Jake DeSantis.

    The lawyer in me (I should really say “recovering lawyer,” since I haven’t practiced in 15 years) understands his point. He contracted to work with his salary essentially being his bonus, and after fulfilling his obligations (he argues that it was a form of public service, but let’s just stick to the idea that he served the company), the CEO is asking him to forgo his pay. It’s an argument, in strictly letter-of-the-law terms, I could comfortably make to a judge or jury.

    But as a person, I am not the least bit moved by DeSantis’s point of view, because over the last several years, he has tremendously profited from a larger financial culture that is completely out of whack. Those working in the financial industry made untold sums of money from a bubble that was bound to burst, and they did so in an environment that rewarded risk with no consequences for failure.

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