Check out this story. What an asshole.
This is why I oppose welfare.
Hey, he earned that money fair and square through hard work.
And most of that wealth is going to trickle down so everybody can enjoy the benifits. That has been official policy for 8 years and it was very succesfull. So why change it now?
I bet ya some fool might see it as a reason to oppose welfare ! ! !
Why not? Welfare for the Rich or poor tends to lead to subsidizing behavior that makes alot of us want to pull our hair out. Though, at least someone has to build such apartments, clean them, maintain them, make the furniture for them, work as office staff, etc.
Who's the asshole? Merril Lynch and similar companies for entering into such contracts. I suspect they'll be a thing of the past. Big payouts will still exist for executives who lead for a decent amount of time. Performance indicia as required benchmarks would be even better. After this financial meltdown, I don't think there will be contracts where people get huge paydays just for showing up to work.
This is why many people in this country don't want to work towards anything. This goes along with those people who want to be just like that kid whose parents bought them the best of things, brand new sports cars, never made them work, paid for the best schools from elementary to college and then gets handed a job that only requires their name to be on the door.
What amazes me is how some of these companies have been "compartmentalizing" the funds (I think the AGI guys were the first public ones).
They will pay out these millions and then somehow with a straight face say "Oh...those were not "bailout" monies...those came from "other" allocated funds".
What "other" funds when you were broke/cash flow was negative/your liabilities > assets?