Showing posts with label first against the wall. Show all posts
Showing posts with label first against the wall. Show all posts

Tuesday, February 10, 2009

If you're so smart, how come you're not rich


Since I've been resting here in my undisclosed location in the aftermath of the Canadian parliamentary crisis and the U.S. presidential inauguration, I've been very busy lately reading the conservative blogs and listening to the talk radio they pump into the lounge 24/7 to get the truth that the liberal MSM won't tell - you know about the victory in Iraq and how Barack Hussien Obama is really Malcom X's love child - that kinda stuff. This post started, as so many posts do, as a comment over on RossK's Gazetteer, so if it seems I am repeating myself, rest assured I am and that your engraved apology is on its way from the Woodshed's department of redundancy department.



One of the members of our blogging posse, RossK, is troubled lately. Troubled because grant money for research is drying up fast and as a researcher, that grant money not only pays for him to further humankind's knowledge and probably save lives in the future, but it also allows him to "put food on his family."

Science, bah! What has science ever done for us? Okay, the Internet, but what else? The only things more useless than science are liberals and maybe the roman empire.


Fund basic research to encourage breakthroughs that might lead to new technologies as a way to stimulate the economy? That's crazy talk! Everyone knows that is the moneymen - the brokers, the bankers, the leverage and arbitrage artistes - that drive economic innovation and deserve all the stimulus money! Who else could come up with a way to sell loans made to people who had no hope of paying them back as a AAA investment! Hooray for capitalism! If only government could be run like a business.

Come on RossK, science has its place in high school and stuff, but do you think those freewheeling capitalist Masters of the Universe can get by on a measly half a million dollars a year (plus whatever they can steal) without a big fat bonus? Do you think those Lexuses and 3,000 square foot ski condos are going to buy themselves?

Don't you realize that if the government takes the $120,000 grant that supports your biomedical research and pays the salaries of the three people you work with, and instead gives that money to a needy bank, brokerage or multinational corporation, those companies can pay the bonuses they need to pay to keep the kind of executive talent around that got them where they are today. And that money filters down into the economy through sports car dealerships, caviar importers and expensive escort agencies. That bonus money plays a vital role in the economy in other ways too. Do you really want the banker in charge of asset-stripping a borderline profitable small manufacturer that the bank has foreclosed on being distracted by wondering if he can afford another Rolex or a third country club membership? Do you want the people who run our economy stressed out over not being able to get a decent tee-off time just so your "research assistants" can squander the money that could have been spent building a private company golf course on bulk lentils, bus passes and cheap instant ramen noodles and clothing imported from China (a nation of communists)? Do you RossK? All in the name of "learning" and "scientific inquiry" and all that other egghead stuff? My god, you science geeks are a selfish bunch!

Any conservative will tell you that science is overrated. Whether its climate scientists yammer on about melting ice caps and drowning polar bears or biologists with all their "Darwin this" and "evolution that" -- don't they know it snowed in Delisle, Sask. just the other day and that God made the world -- as is -- in 168 hours. Just look at the success the new government of Canada has had removing science from such areas as food inspection and nuclear regulation. Industry can take care of itself, why can't science? If you Pointedexters are so smart, how come you're not rich?

huh? What's that nurse? It's time for my medication? NO! NO! NO! I like the voices in my head, they are my friends! They want me to be a success, just like the other blogging tories here on the ward! Don't come any closer! PUT DOWN THAT NEEDLE! I'M GONNA REPORT YOU TO STEPHEN HARPE........zzzzzzzzzzzzzz.


* * *

In all seriousness, Astro, one of the commenters over at RossK 's joint, suggests its time to stop letting the economists run things and start listening to the scientists. He's right, but I'll go him one better.

It isn't just time to listen to the scientists instead of the economists and moneymen, it's time to take most of econmists out behind the barn and put them down like diseased cattle. And it's long past time to take most of the moneymen and other latter-day would-be robber barons, strip them naked, and kick them out of the back of a moving van in Kabul or Dhaka or Port-au-Prince or Kitcisakik and see how far the Harvard MBA and the old boys clubs get them then. As far as I'm concerned, every single one of these bonus babies should be put in the stocks and the government should subsidize truck farmers by buy all their rotten produce and handing out to people to throw.

Tuesday, December 09, 2008

Blindfolds, not Bailouts

First against the wall when the revolution comes: AIG executives.


Dec. 9 (Bloomberg) -- American International Group Inc., the insurer whose bonuses and perks are under fire from U.S. lawmakers, offered cash awards to another 38 executives in a retention program with payments of as much as $4 million.


The incentives range from $92,500 to $4 million for employees earning salaries between $160,000 and $1 million, Chief Executive Officer Edward Liddy said in a letter dated Dec. 5 to Representative Elijah Cummings. The New York-based insurer had previously disclosed that 130 managers would get the awards and that one executive would get $3 million.


“I remain concerned, as do many American taxpayers, that these retention payments are simply bonuses by another name,” Cummings said in letter responding to Liddy. AIG, which received a U.S. rescue package of more than $152 billion, has been criticized for saying it will eliminate bonuses for senior executives while still planning to hand out “cash awards” that double or triple the salaries of some managers. The payments are designed to keep top employees at AIG while Liddy seeks to sell units and pay back the federal government, which owns 79.9 percent of AIG.

...AIG’s managers have overseen a record $37.6 billion in net losses so far this year. Cummings has called for Liddy’s resignation and said AIG should provide names of those getting retention pay and explain why the awards are needed. Firms accepting taxpayer money shouldn’t enrich employees, he said..



Yeah, because when the senior management of the company steers the firm in losses of nearly $40 billion and forces the firm to seek a $150 billion bailout from the government, the last thing you want them to do is jump ship and work for someone else.
While I understand the importance of propping up all those struggling Porshe dealerships, caviar importers and executive country club operators that provide much needed greenskeeping and caddying jobs in these dark economic times, frankly I'd have a lot more respect for these people if they just drove up to Fort Knox in a convoy of trucks with masks and guns and cleaned the place out like honest thieves.

CNN Dec. 5

NEW YORK (CNNMoney.com) -- A record 1.35 million homes were in foreclosure in the third quarter, driving the foreclosure rate up to 2.97%, the Mortgage Bankers Association said Friday.

That's a 76% increase from a year ago, according to the group's National Delinquency Survey.At the same time, the number of homeowners falling behind on their mortgages rose to a record 6.99%, up from 5.59% a year ago, the association said. This means that one in 10 borrowers in America are either delinquent or in foreclosure



What would Woody Guthrie say?


"Yes, as through this world I've wandered
I've seen lots of funny men;
Some will rob you with a six-gun,
And some with a fountain pen.

And as through your life you travel,
Yes, as through your life you roam,
You won't never see an outlaw
Drive a family from their home."

-Woody Guthrie
The Ballad of Pretty Boy Floyd