Well, people warned Congress it would happen.
With the threat of punitive 90% taxes on their income and earnings caps on the truly talented in the financial services business becoming scapegoats, firms beyond the reach of Andrew Cuomo’s show trials and public intimidation are hiring away the very people who have the skills to prevent further collapse of the US banking and financial services industry.
Good job!… especially you Republican traitors in the U.S. House.
Congress – in order to deflect attention from their stupidity – is talking very stridently about the executives of “their” company AIG.
These are incredibly stupid actions. While the folks getting the bonuses may have played a role in the losses, threatening them is extremely stupid. These are the only people who have the skills to unwind this mess. One click of a button (or failing to click a button after they quit) and they can make the entire global economy lose $75 trillion.
The problem was that the government stepped in to bailout a failed company, not that the employees want their earned income. The reason that there are bonuses at all is that Congress imposed a “salary cap” on “executives” and forced companies to pay employees based on performance. If you don’t pay the “executives” what they were promised, they -will- leave AIG. Will Chuck Schumer now force them to continue to work for AIG without paying them?
Fascism has arrived and it is bi-partisan.