March 25, 2009
The Merchant of Venice Is Like A Simile for the Financial Crisis
Posted by David Zaring

Nate Oman gets classy here.  I personally find it more Kafkaesque than Shakespearean when salary entitlement arguments turn on "I didn't personally kill my company."  Be interesting to hear what, say, the prime mortgage employees at Countrywide think of that.  Maybe they can use similar observations to get rehired!

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Comments (2)

1. Posted by Joe on March 25, 2009 @ 7:51 | Permalink

It's really the bonuses that kill me. I always thought bonuses where awarded if the employee helped the company perform well. So if the company is failing, shouldn't bonuses be dispensed with?

2. Posted by TBoone on March 26, 2009 @ 13:58 | Permalink

They aren't performance bonuses - they're "stay pay", a fairly standard way to keep institutional knowledge around for a while after a corporate transaction. The publicized amounts are too big to garner sympathy, but there are IT guys going to get hosed out of $50K for several months' work too.

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