Quinine Odan

Greed Is Good For Me, quinine odan But Not For Thee http://2.bp.blogspot.com/_CNRDiW7_t8A/SfJTwe94y3I/AAAAAAAABpU/_DhCM83daN0/s320/money-lifestyle-greed.jpg                                                                                                                                                                                                                                                                                                                                   In case you missed it, quinine odan yesterday’s Washington Post had an op-ed by Neel Kashkari, quinine odan a former Goldman Sachs man who oversaw the TARP program. Quinine odan In it, quinine odan he warns an unsuspecting public about the dangers of the growing deficit and the need to choke it off at the source, quinine odan entitlement spending. Quinine odan 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. Quinine odan The financial crisis has reminded us that free markets are not perfect — but they do allocate capital better than any other system we know. Quinine odan A “me first” mentality usually makes markets more efficient. But this “me first” mentality can also lead to shortsighted political decision making. Quinine odan Most Americans agree that we need more energy from clean sources, quinine odan such as wind power — until someone proposes installing a transmission line near their homes. Quinine odan 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. Quinine odan But it also runs against our sense of fairness: We have, quinine odan after all, quinine odan paid for entitlements for earlier generations. Quinine odan Is it now fair to cut my benefits? No, quinine odan it isn’t. Quinine odan But if we don’t focus on our collective good, quinine odan all of us will suffer." Let’s put this in perspective. Quinine odan Neel Kashkari worked at Goldman Sachs and later directed TARP. Quinine odan In between he worked at the Treasury Department under that notorious skin-flint and deficit hawk George W. Quinine odan Bush. Quinine odan Did he rant about deficits then, quinine odan I wonder? Now, quinine odan after his golfing buddies have ruined the economy and run off with the loot, quinine odan 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. Quinine odan How fucking noble. By the way, quinine odan while this apostle of selflessness was overseeing the distribution of TARP payments, quinine odan where exactly were those payments going? Um, quinine odan let’s see … In the fall of 2008, quinine odan with the financial system on the verge of collapse, quinine odan 17 large banks that were being propped up by taxpayers doled out $1.6 billion in bonuses. On Friday, quinine odan the Obama administration’s pay czar, quinine odan Kenneth Feinberg, quinine odan 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, quinine odan” 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, quinine odan Goldman Sachs and Bank of America. Quinine odan 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 ... Quinine odan many of them were over $10 million per individual, quinine odan which were in our view ill-advised, quinine odan” Feinberg said. I assume his former Wall Street colleagues were spared any lectures about the virtue of self-sacrifice. Quinine odan In their case, quinine odan you see, quinine odan a ‘me first’ mentality is good. Quinine odan It allocates capital better than anything else the human race has ever invented. Quinine odan It makes markets more efficient. Quinine odan But when it comes to you, quinine odan Mr. Quinine odan and Mrs. Quinine odan Kramden, quinine odan a ‘me first’ mentality leads to short-sighted political decision making and all kinds of other scary things, quinine odan like debts and deficits. Quinine odan 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. Quinine odan Somebody get me a bucket. To steal a line from The Outlaw Josey Wales, quinine odan don’t piss down my back and tell me it’s raining. Quinine odan 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. Quinine odan Until then, quinine odan go back to your freakin’ golf course and leave the rest of us alone. Original article found at: http://badattitudes.com/MT/