[lbo-talk] a fresh rant on the bailout

Shane Taylor shane.taylor at verizon.net
Wed Feb 11 12:10:49 PST 2009


Michael Pollak wrote:


> One, besides the pleasure (which I would feel as well as
> anyone) what exactly do we get of kicking out management?
> Wouldn't we simply have to hire new bankers who we would
> then have to get up to speed? Isn't it more a question
> of re-regulating bankers, whoever they are?

Doug Henwood wrote:


> There should be consequences for failure. Future execs
> should know that if they fuck up bigtime, no biscuit for
> them.

If you leave the fuckups in charge, why won't their priority be to cover their asses, even when that isn't a plausible end? Would it be a surprise for them to defend and continue failure to excuse themselves, even if they fail to convince anyone but themselves?

Shane



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