Comments on: Executive Pay and the Credit Crunch Revisited http://blog.robertsalomon.com/2008/03/11/executive-pay-and-the-credit-crunch-revisited/ Thu, 09 Sep 2010 22:11:50 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Sebastian http://blog.robertsalomon.com/2008/03/11/executive-pay-and-the-credit-crunch-revisited/comment-page-1/#comment-538 Sebastian Mon, 29 Sep 2008 22:40:10 +0000 http://blog.robertsalomon.com/2008/03/11/executive-pay-and-the-credit-crunch-revisited/#comment-538 Wouldn't an all round absolution of debt be an appropriate restart of the economic scenario at this point, especially in the US? It is a strategy that dates to ancient Hebrew tradition, where it was at one stage applied in 49 year cycles to resolve the accumulative complexities of a credit driven system. It will immediately enable the broad consumer base to start spending on strength of regular income, implying an upward revival of market forces, working its way up through retail, wholesale and industry, with credit facilities kicking in in due course. A debt free entity is a creditable entity, which is the fundamental factor about which the credit industry turns. Wouldn’t an all round absolution of debt be an appropriate restart of the economic scenario at this point, especially in the US?

It is a strategy that dates to ancient Hebrew tradition, where it was at one stage applied in 49 year cycles to resolve the accumulative complexities of a credit driven system.

It will immediately enable the broad consumer base to start spending on strength of regular income, implying an upward revival of market forces, working its way up through retail, wholesale and industry, with credit facilities kicking in in due course.

A debt free entity is a creditable entity, which is the fundamental factor about which the credit industry turns.

]]> By: The View from Main Street http://blog.robertsalomon.com/2008/03/11/executive-pay-and-the-credit-crunch-revisited/comment-page-1/#comment-167 The View from Main Street Wed, 12 Mar 2008 01:38:40 +0000 http://blog.robertsalomon.com/2008/03/11/executive-pay-and-the-credit-crunch-revisited/#comment-167 In other words... the board decided to exclude loan losses? Seriously? So their business, is, um… making loans, right? And the Board of Directors decides it’s OK to exclude loan losses? Can someone pass whatever it is those guys were smoking over this way? I think I need a hit. Oh, and now that I’ve taken the magic pixie dust, and I’m an executive at WaMu and here’s what we should do… let’s write down as much as we can. After all, it won’t affect our bonuses. Then, when things improve, we can look like we hit a home run with earnings and guess what? That does impact our bonuses. Woo hoo! Someone pass the bong. Only in America. In other words… the board decided to exclude loan losses? Seriously? So their business, is, um… making loans, right? And the Board of Directors decides it’s OK to exclude loan losses? Can someone pass whatever it is those guys were smoking over this way? I think I need a hit.

Oh, and now that I’ve taken the magic pixie dust, and I’m an executive at WaMu and here’s what we should do… let’s write down as much as we can. After all, it won’t affect our bonuses. Then, when things improve, we can look like we hit a home run with earnings and guess what? That does impact our bonuses. Woo hoo! Someone pass the bong.

Only in America.

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