The Hungry Writer

An unemployed writer keeping sane during The Depression II.

News From the line.

Posted by The eDater on February 4, 2009

I'll take my computer, thank you very much.

I'll take my computer, thank you very much.

The line is growing – an estimated 522,000 last January, according to ADP. And that number, of course, won’t have any of February cuts – like the 15,000 Panasonic just announced (half in Japan). Thank goodness we don’t have to stand in the cold, but can apply and submit our unemployment from the comfort of a good coffeeshop, for instance – or lying in bed. Yeah internet!

In other news, Obama has proposed limiting executive pay to $500,000 for any company that accepts TARP help. I think this is a great move – if only because the bonuses that have still been handed out are one of the biggest PR disasters of this whole mess. I see folks get apopleptic over that.

Of course, poor Obama has been under attack from every angle already, and this is no different. Forbes fears the compensation cap will cause some banks to forego TARP payouts. You know what? This is ridiculous on the face of it. Drive away talent? Where to? It seems like rags such as Forbes still don’t get it – THERE ARE NO JOBS. Anyone who has a job is counting their lucky stars, and waiting for the axe. Anyone think they’re such a whiz kid they’ll get snatched up by another company in the especially-beat financial industry? Kudos, kid, good luck. You’ll need it.

And any bank or financial firm with an executive team so greedy they can’t curtail their pay for a year or two – I don’t want ’em. Let it fail. Let it die. They’ll get exactly what they deserve, if they just can’t bear to earn a mere $500,000 in ’09. Are these ‘responsible’ journals just trying to argue for argument’s sake, or do they actually believe this horseshit they’re trying to foist on the public?

Oh, and an aside about poor Obama, because it looks to me like he’s gonna take it on the chin for the next four years, as this crisis isn’t causing generous moods. The appointees, with their owed taxes – yes, that’s ugly. Bad fortune that that happened, and quite possibly bad screening. Not good at all.

But most people I hear are talking about some sort of double-standard – that if Bush had appointees with similar problems, he’d be hammered up and down the court.

Two problems I have with that. One, people are thinking of Bush at the end of eight years, compared with about 2 weeks of Obama. Of course there’d be less patience with an old prez than a new one – Bush’s patience would have been used up years ago.

But the bigger problem is, Bush had appointees with much worse sins – and he got, if anything, less flak than Obama. I’m thinking most explicitly about former Attorney General Alberto Gonzales, who – at the time of his appointment – had already penned a legal defense of torture, and had acted as Bush’s personal attorney and White House counsel (setting up the conflict-of-interest problems that predictably surfaced later).

Those things, to me, are a whole lot more worrying than some back taxes owed. And there were some folks that gave voice to their displeasure – but the outcry wasn’t so great that Gonzales withdrew his name, as Daschle has.

This whole “liberal media bias” is the greatest hoax the GOP has ever commited – gotta respect it, but I wish folks were aware of the amount of manipulation that goes into it. I’m not saying the media is GOP-biased either – just that it’s easily batted around, and the GOP is better at it.

That might change with Obama as well – but for now, there’ll be plenty of other meaningless lumps that’ll get in the way of real policy reforms. And that, friends, is the sign of a system so broken, it must soon die.

Let’s hope we’re not there quite yet.

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