Stocks before whore – everyone’s poor – Jon Stewart
Yeah, the fact that a meltdown in financial markets finally managed to kick the stories about a grown man paying for sex (wow, that really happens?) out of the headlines, is a little reassuring, although again, I’m still not certain why we’re not rioting in the streets, given the state of things.
Another bit that surprised me was the ommision of this little gem from the headlines – that the recently-departed CEO’s salary was about the same amount that JP Morgan just paid for the enitre instititution.
One person who does not have to worry is James Cayne, the recently departed chief executive of Bear Stearns. According to the New York Times, he walked with $232 million in compensation over the period from 1993 to 2006. This is just another example of how the global economy rewards extraordinary talent.
Yup, that totally makes sense to use tax payer money to bail them out.