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Greed Is Good For Me, find hmb mass cod But Not For Thee                                                                                                                                                                                                                                                                                                                                   In case you missed it, find hmb mass cod yesterday’s Washington Post had an op-ed by Neel Kashkari, find hmb mass cod a former Goldman Sachs man who oversaw the TARP program. Find hmb mass cod In it, find hmb mass cod he warns an unsuspecting public about the dangers of the growing deficit and the need to choke it off at the source, find hmb mass cod entitlement spending. Find hmb mass cod His piece is called “No ‘Me First’ Mentality On Entitlements.” "Our belief in free markets is founded on the idea that each individual acting in his or her self-interest will lead to a superior outcome for the whole. Find hmb mass cod The financial crisis has reminded us that free markets are not perfect — but they do allocate capital better than any other system we know. Find hmb mass cod A “me first” mentality usually makes markets more efficient. But this “me first” mentality can also lead to shortsighted political decision making. Find hmb mass cod Most Americans agree that we need more energy from clean sources, find hmb mass cod such as wind power — until someone proposes installing a transmission line near their homes. Find hmb mass cod Most people are against earmarks — unless it is their representative scoring money for their district. Cutting entitlement spending requires us to think beyond what is in our own immediate self-interest. Find hmb mass cod But it also runs against our sense of fairness: We have, find hmb mass cod after all, find hmb mass cod paid for entitlements for earlier generations. Find hmb mass cod Is it now fair to cut my benefits? No, find hmb mass cod it isn’t. Find hmb mass cod But if we don’t focus on our collective good, find hmb mass cod all of us will suffer." Let’s put this in perspective. Find hmb mass cod Neel Kashkari worked at Goldman Sachs and later directed TARP. Find hmb mass cod In between he worked at the Treasury Department under that notorious skin-flint and deficit hawk George W. Find hmb mass cod Bush. Find hmb mass cod Did he rant about deficits then, find hmb mass cod I wonder? Now, find hmb mass cod after his golfing buddies have ruined the economy and run off with the loot, find hmb mass cod he comes out in the Washington Post and scolds us about the need to rise above our immediate self-interest and make sacrifices for the collective good. Find hmb mass cod How fucking noble. By the way, find hmb mass cod while this apostle of selflessness was overseeing the distribution of TARP payments, find hmb mass cod where exactly were those payments going? Um, find hmb mass cod let’s see … In the fall of 2008, find hmb mass cod with the financial system on the verge of collapse, find hmb mass cod 17 large banks that were being propped up by taxpayers doled out $1.6 billion in bonuses. On Friday, find hmb mass cod the Obama administration’s pay czar, find hmb mass cod Kenneth Feinberg, find hmb mass cod passed judgment. He said the payouts were “ill advised.” But he also said he did not believe the payments were “contrary to the public interest, find hmb mass cod” and he does not plan to ask the companies to pay the money back. The 17 companies making the excessive bonus payments while on government life support included Citigroup, find hmb mass cod Goldman Sachs and Bank of America. Find hmb mass cod Feinberg described the payments in an interview with NPR after he delivered his report on executive pay to the Treasury Department. “Some of the payments ... Find hmb mass cod many of them were over $10 million per individual, find hmb mass cod which were in our view ill-advised, find hmb mass cod” Feinberg said. I assume his former Wall Street colleagues were spared any lectures about the virtue of self-sacrifice. Find hmb mass cod In their case, find hmb mass cod you see, find hmb mass cod a ‘me first’ mentality is good. Find hmb mass cod It allocates capital better than anything else the human race has ever invented. Find hmb mass cod It makes markets more efficient. Find hmb mass cod But when it comes to you, find hmb mass cod Mr. Find hmb mass cod and Mrs. Find hmb mass cod Kramden, find hmb mass cod a ‘me first’ mentality leads to short-sighted political decision making and all kinds of other scary things, find hmb mass cod like debts and deficits. Find hmb mass cod A $10 million dollar bonus payment to a paper pushing con-man is an economic boon; collecting a six-hundred dollar a month social security check is narrow short-sightedness and constitutes a dire threat to the economy. Find hmb mass cod Somebody get me a bucket. To steal a line from The Outlaw Josey Wales, find hmb mass cod don’t piss down my back and tell me it’s raining. Find hmb mass cod The day we cut back on the $700 billion plus we spend every year on defense is the day I’ll listen to patriotic calls for self-sacrifice. Find hmb mass cod Until then, find hmb mass cod go back to your freakin’ golf course and leave the rest of us alone. Original article found at: