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Sunday, 29 March, 2009

Posted by Mandee on March 29, 2009   |   9 Comments

Rest Day

A look at AIG bonuses-
“The following is a letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group’s financial products unit, to Edward M. Liddy, the chief executive of A.I.G.”

9 responses to “Sunday, 29 March, 2009”

  1. Clint says:

    Ah great article. That is just an unfortunate example of poor business ethics. At least the individual is moving on to better things.
    As for us, looks like “Flight Gone Bad” has decided to surface from the depths of Crossfit Dungeons I can hardly wait to get beat up again!

  2. Russell says:

    I’d call it the persecution of the successful via national policy formed on the basis of wealth envy.

    FGB should be fun. I’m looking for 400+ this time.

  3. klowe says:

    405 is 27reps per exercise….

    My new “magic” number. Carb loading and hydrating today, good sleep tonight, and then hitting this at lunch tomorrow. I really hope I don’t over think this. It is just a WOD but……….

  4. James Lambert says:

    See you in a couple of hours

  5. Daniel says:

    It cannot be simplified as such. National policy has no basis in wealth envy. National policy is driven by societal pressures, millions of people thinking and acting and reacting like a school of mackerel. Politicians are just as much affected by these waves as any other person.

    Outrage over the payouts were unjustified, but the outrage was not caused by wealth envy, it was caused by ignorance. Ignorance of the true story behind the inflammatory word “bonus” used to describe the payouts by the press. Ignorance is much more sinister and debilitating then ‘wealth envy’ will ever be.

    In my experience ‘wealth envy’ is either an urban legend or nobody admits that they despise rich people . Everyone wants to be rich, and rich people are revered, honored and afforded every luxury and are forgiven their transgressions quicker then the poor in this society. Although the praise is superficial it is often warranted because rich people are typically smarter and they have worked harder. Celebrating the rich and powerful is a basic American trait (maybe even a human trait) , and disdain for the rich and powerful is not.

    The AIG ‘bonuses’ were merely retention payments to guarantee that during the company’s roughest times, the best people they had wouldn’t leave the floundering ship unmanned and doomed to sink. The press’ initial reports on these payouts though failed to mention this fact. Sensationalism sells, and the press was just doing their job. Everyones got to eat.

    However, now the individuals involved in the maelstrom are now having to fight tooth and nail to protect their honor and to place blame where blame is due. Hence the letter. That man, the author, will be rich one day, if he isn’t already; because he knows how to buck a trend. He knows how to get the school of fish swimming in the other direction. He is in a ‘Fight Gone Bad’, and he is not giving up.

  6. JT says:

    one torn hand, one bruised sternum from “chest to bar” in 20:05. Just couldn’t get the last two ring dips in to beat 20:00.

  7. Russell says:

    I hear things on a daily basis that can only be summarized as the hatred, dislike, or disaproval of the wealthy based solely on their wealth… Wealth envy is just a catch-all phrase for that line of thought. It’s also a nice back-handed insult at the people I’m describing, so I’ll keep it.
    I’d wager that simplifiying this distain for the successful into the term “wealth envy” is just as effective as simplifying your quote

    ( “National policy is driven by societal pressures, millions of people thinking and acting and reacting like a school of mackerel. Politicians are just as much affected by these waves as any other person.”)

    into the term “Vote buying”

  8. Daniel says:

    Sad, FGB was bad for me. I want to do it again tonight. arrgh!

  9. Jeremy Nuckols says:

    10 sets of 10 PUs/10RDs: finished in around 36 minutes. My ring dips sucked ass.