The Merrill-Lynch-Mob

Welcome to mob rule, as orchestrated by the House of Representatives, who yesterday created a “bonus bracket” of 90% on bonuses paid by certain companies receiving Federal Bailout money.

Forget about contracts, the rule of law, the fact that Eliot Spitzer engineered the departure of longtime AIG chief Maurice Greenberg by threatening a lawsuit he never brought, etc. Let’s just stick it to AIG employees, anyone we can find, regardless of what division of the company they work at and what their position is (was).

“Open Season” has been declared on employees at AIG, Merrill-Lynch (now part of Bank of America), Citigroup, and the like. This is not only irrational, but counterproductive as well. And don’t forget, many little people work at banks and other financial institutions.

We should focus on more serious issues, such as the firms that AIG is paying with the bailout money, but hey (hay?), it’s hard to stick a pitchfork into that!

NYT article

NYT article

...the part of their bonuses over $250,000/year.

Actually, I'm not.