Wednesday, March 25, 2009



Two, start firing people. The trouble with putting off the nationalization of banks is that it delays getting rid of the executives who helped create this mess. Also, AIG’s argument that it needs to retain the best and brightest with big bonuses is bunk. Look no further than Thailand and South Korea.

The wisest thing Thailand did to recover from the 1997 Asian crisis was to close or consolidate banks and toss out management. Korea took similar steps, which allowed the government to grasp the depth of its banking woes. The arrival of outsiders began the healing. Officials in Seoul also worked to rein in the opaque, family-run conglomerates towering over the economy.

... well, amerikkka is a place where you get fired ...
... if you drinked a bit too much on your day off ...
... but if you sink the whole economy ...
... you get 250 millions of bonuses ...
... nice place ...


# posted by intcoex : 3:57 AM




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