Zeal for battle over bonuses waning in Washington

This story posted on AOL just about an hour ago.

As it happens, after all the moaning, groaning, whining and grandstanding of recent weeks, the powers that be (Congress) have now decided that we need those at the helms of large financial entities on our side, in order to release funds to Joe citizen to get the economy moving again. It is truly a matter of which came first - the chicken or the egg, or we all need each other to get along - take your pick.

I would have liked to see some appropriate penalties levied against AIG staffers for their grossly inflated and inappropriately timed bonuses, but apparently I am not going to see that in my lifetime. What we have all learned is a great deal - we are surely more aware of golden parachutes, stock options, corporate jets and most of all - bailout monies, who gets them and what is done with them.

In a recent conversation with an employee at UBS, he shared that he too had received a bonus that he did not want to see taxed - granted, his monies came from Switzerland, but I can't imagine that country has money to throw away any more than ours does at this time - speaking for taxpayers. It has become a debacle, a boondoggle, a tar baby that no-one knows quite how to handle - almost like the out-of-control preschooler having a tantrum in the grocery store - the parents are afraid to say anything for fear of sounding harsh - onlookers fear the wrath of the parents, and so, nothing is said at all.

Here is the link to the story if you can stomach it - I suppose it makes sense in the end, but it is a disappointing ending - I had surely hoped for a much different outcome. http://money.aol.com/news/articles/_a/bbdp/zeal-for-battle-over-bonuses-waning-in/398150

Eliot Spitzer returns to the public eye

I was, as many New Yorkers, shocked, humiliated and embarassed by the prostitution debacle that brought down our amazing Governor, Eliot Spitzer last year.

In the meantime, he has bowed out of public life and spent time away with his wife and three daughters. He has earned their forgiveness for his acts and seems to be contrite and much wiser for having had the unimaginable experiences that thrust him into the butt of late night jokes, water cooler gossip and the like for many weeks last year.

I was most impressed with him today as I watched him interviewed by the competent Fareed Zakharia on CNN's GPS show this afternoon. He was the Eliot Spitzer I admired from years ago as Attorney General of New York - intellectually stimulating, articulate, knowledgeable and amazingly direct and candid in his responses.

He had some remarkable insight into the AIG mess, based on his prosecuting the company some years ago whilst still serving as AG. That he had such insight reminded me of why it is that I miss him, particularly these days when his successor seems to be stumbling along in finding his way as Governor of New York.

Some might question Eliot's qualification or even his ability to speak of the bad behavior of the folks at AIG, but his countenance and answers today led me to believe that he is a different man than he was over a year ago - he no longer appears to be quite as cocky, if that is the right word - he appears somewhat humbled and definitely has learned from his own missteps. He has every right as a private citizen, and certainly as a sometime columnist for Slate Magazine to speak out on issues that concern him - in fact, it would appear that his years of experience have qualified him most eminently for same.

I wish him the very best in his endeavors and hope that the American public will be kind to him as he carefully treads his way back into the public eye. After all, there but for the grace of God, go we all.......