austindefender

Criminal defense in Austin Texas.

Masters of the Universe

| January 27, 2009

Maureen Dowd: In an interview with Maria Bartiromo on CNBC, Thain used the specious, contemptible reasoning that other executives use to rationalize why they’re keeping their bonuses as profits are plunging. “If you don’t pay your best people, you will destroy your franchise” and they’ll go elsewhere, he said. Hello? They destroyed the franchise. Let’s […]

Something for Nothing

| January 27, 2009

The financial crisis, according to Newsweek, was caused by ordinary Americans, not just tycoons. “None of this would have happened,” writes Justin Fox, “If millions of us hadn’t come to believe we could get something for nothing by taking on debts we couldn’t repay.” “Thanks to the Panic of 2008,” he continues, “we can count […]