The Other Side column 3-19-09


Rewards for failures is nothing new in the U.S.

By Kelvin Wade | | March 19, 2009 14:38
'Put that coffee down. Coffee is for closers-' ---Blake, Glengarry Glen Ross

Everyone's hair is on fire about the bonuses AIG is paying its employees. It's sickening that they're using their (what is it?) fourth government handout to reward failure. But it shouldn't be shocking.

So the Wall Street boys have fixed the system so they get compensated with bonuses regardless of how poorly they perform. Performance doesn't matter. Isn't that the American way?

You know that merit and rewarding achievement are secondary to what the contract says. Cops have been retiring in droves taking advantages of lucrative retirement plans from Solano County to Nassau County, NY, and points in-between. The New York Post reported this week that 200 Nassau County cops are rushing to retire before a new law kicks in limiting their benefits. It's all about the spoils.

Since when is achievement and pay linked? Professional sports teams throw bundles of money at rookies who haven't played a single pro game. Sure, they often have bonuses and incentives in their contract where they make more money on the basis of their performance. (What a novel concept!) But too often these days, there's tons of upfront guaranteed money.

What was that Dire Straits song? Money for nothing?

Aren't we used to squandering taxpayer money with no bid contracts in Iraq and the aftermath of Hurricane Katrina? Since when does anyone have to be accountable while spending taxpayer money?

In recent years, government showed us one could fail upward. You could be director of the CIA during the biggest intelligence blunder in American history and win a Presidential medal. As national security adviser, you could preside over the largest breach of security in history and be rewarded with the secretary of state job.

It's the 'everyone gets a trophy' mentality on a grand scale. In youth sports in America, most of the time kids get trophies whether their team wins or loses. I just saw a case where a 1-7 youth basketball team received larger and nicer trophies than an undefeated one!

It seems no one is allowed to fail in America. Wait, that's not true. Millions of homeowners are underwater owing more on their home than the home is worth. The number is 43 percent in Fairfield. These are people working hard, making the payments. Since they're not in foreclosure or not struggling enough, there's no help for them. No bonuses or bailouts. Suckers.

However, this is the America we've chosen to live in. Everyone gets a trophy. Everyone gets a bonus regardless of whether they deserve it because, well, it says so in the contract.

I can't stand the thought of those fat cats who helped derail this economy getting huge bonuses for their deeds. While we can gnash our teeth all we want, this is how it works and has worked for years in America.

We need a Blake, the character Alec Baldwin played so perfectly in the movie 'Glengarry Glen Ross.' We need someone with brass ones who can finally say that you get what you earn. Rewards are given for achievement. And if you don't like that version of America, hit the bricks. Peace.

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I deconstructed my recent bout with gravity in the DR Other Side blog. Click here to read.

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