Wednesday, September 24, 2008

My daily "WTF" thought about this bailout "crisis'

Some lawmakers have proposed putting caps on executive salaries as part of the bailout. Wall Street snapped back that executives might lose incentive to perform well if this was the case. The old 'free market' whine again...this time applying it to government bailout without a hint of irony. Yes, those pay incentives really motivated them to make sound, sober judgments that would lead to profitability, didn't it?

Wall Street has long been a fan of outsourcing 'the world is flat' globalism and other main street wrecking theories, so turnabout is fair play.

Anyone remotely familiar with the Indian educational system knows, as screwed up as it is in many ways, the entrance examinations to the top universities are rigorous, to the point where most American post graduate students would miserably fail a freshman entrance exam. In other words, there's lots of smart people among that one billion, and as any out of work American programmer knows they'll work hard for less. So I am sure we can find some bright Indian MBA graduates to sort out our financial mess, and I am certain that many of them will have better ethical standards than Paulson & Co. - not that that's hard to do. I am sure they would be quite happy with say, 250,000.00 dollars- well, Euros, a year for the trouble as opposed to $250,000,000.00 for screwing up, and hey maybe one of them could hook me up with Priyanka Chopra:

Although they sometimes can display mind-numbing, comical arrogance, in my experience Indians are generally polite, well mannered (almost an old school Britisness about them) reserved, and often ethical to the point of impracticality. What a refreshing change that would be.

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