CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Sunday, March 22, 2009
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
Previous Posts
- The Trillion-Dollar Bank Shakedown That Bodes Ill
- St. Louis Fed's Data-Mapping Tool: GeoFRED
- Homeownership: Overrated and Possibly Harmful
- NY Bureaucrats Force Low-Cost Doc to Raise Fees
- Average Home Price in Detroit Falls to $13,638
- Affordable Health Care's Available at 80% Discounts
- Quote of the Day
- The Roots of "Economic Challenge" in One Picture
- 1 in 3 Chance Geithner Will "Depart" By Dec. 2009
- For Affordable Food, Nobody Has It Better Than US
11 Comments:
Here's a thought. The bonuses went to a mere hundreds of people while the bailout went to hundreds of thousands of people in multiple countries. Both acts were egregious. You know this and yet you promote this type of behavior by posting the cartoon. A cartoonist is more logical than every one else, right?
Bx,
Unfortunately, it isn't exec pay that caused the present financial crisis. The problem remains...unaddressed and ready to wreck havoc with the global economy. In terms of what is at stake, these bonuses are a trivial sideshow.
Do we really want to decend into another Great Depression over a few bonuses? I will grant you that they are certainly far more than I will see in a lifetime but the entire financial system is more important than a few pricks at AIG or in Washington for that matter.
It should be reel interesting to see what rabbit Geitner pulls out of a hat tomorrow. Up to this point, Obama's team has been long on rhetoric and short on detail. Detail gets the job done...call it the comprehensive plan we can believe in.
"The bonuses went to a mere hundreds of people while the bailout went to hundreds of thousands of people in multiple countries"...
Hmmm, I've heard and read that but I've yet to see something substantial and credible to back up the idea that thousands are on the receiving end of the bailout...
I wonder what that would look like?
I don't know how valid or credible Pro Publica is but they do have a Timeline: AIG and Their Bonuses on their site...
Does anyone else know of something possibly better?
Yes, the bonus argument is a red herring... there are much bigger fish to fry - pun deliciously intended.
I would much rather see media energy spent on the larger picture, but rich fat cat banker types just make a much easier target than an ignorantly over-leveraged Joe Sixpack.
Is anybody really surprised?
Let's say you have a kid, and you give that kid $1,001. The kid buys a bottle of water for $1, and gambles the rest away playing roulette. How much time are you going to spend telling the kid that they should have drank tap water vs. educating them about the dangers of gambling?
Why are we spending so much time on the dollar and so little on the $1000?
because a lot of people are lazy
The should have been"...me having a sip of wine and 30 seconds with your daughter and" HER having a bottle of gin and a night with me.
I don't get it. The cartoon or the comment.
Do we really want to decend into another Great Depression over a few bonuses?
Anything of that sort will be Wall Street reacting to the event with revenge.
Let the clawback happen.
"Let the clawback happen"...
Let the sethstorm pay for it...
As a point of journalistic good faith, you should really give your source here. Randall Munroe publishes XKCD on a creative commons attribution-noncommerical license. it's free for you to republish. the least you can do is follow the license and give him a proper link or mention his name or something.
Austin R: Sure, thanks for the suggestion; I found the source and added the link. I originally got the cartoon by email, without any source or author identified.
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