[quote=afx114]Here’s a question for you flu: Would Citibank even exist if it weren’t for bailout money? Could the dude even have gotten a job there if it weren’t for bailout money?
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Well, that’s a seperate question. The government shouldn’t have bailed out bank to begin with. BUT now that it did, and if it wants to stay competitive with other banks, how can it without being on par with the rest of the industry?
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Would you go work for a company who owes billions? And if you did, would you expect to get a bonus from them if you were successful in your position regardless of the overall health of the company?
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Yes and yes. If two companies are identical in function but one lacks the financial stability, then yes I would would consider working for the less stable one IF and only if, the less stable one compensated me for taking on the additional risk. This goes hand in hand with the risk versus reward thing. If I can make X at company A which is much more solid than company B, company B must compensate me greater than X to take on that extra risk. That of course assumes that I can be I am in demand by both A and B. It would be completely different if I can’t even get employed by company A because I suck.
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Are you suggesting that employees should be judged solely on their individual merit rather than the performance of the company as a whole? Shouldn’t it be a combination of both?
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I believe folks in sales at any company are commisioned based on how much they sell, *not* based on the overall profitability of the company, right? So how is this any different?
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Did this $600mil profit he made come solely from his amazing skills, or can some of the credit be given to the seed money provided by the taxpayers?
Chicken or the egg?
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His track record probably suggests the dude is a shark.
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And I agree with you, if the dude wants fat bonuses, he should go work for someone who doesn’t owe billions.[/quote]
And that is why government run organizations will seldomly attract top talent, and why government shouldn’t got involved with running banks and auto companies or any other “for profit” business to begin with. Highly unlikely it will ever be competitive. These things should have just failed.
