AP IMPACT: US bets execs can save banks, this time
By MATT APUZZO and DANIEL WAGNER, Associated Press Writers
Tue Jan 27, 2009
WASHINGTON – It's one of the ironies of the U.S. financial bailout: The banking executives now managing billions in taxpayer money are the same ones who oversaw the industry's near collapse.
I realize the analogy is faulty but...
Joe Torre took the NY Yankees into the post-season for 12 consecutive years, and to three consecutive World Series victories.
When the post-season success ended, the Yankees got rid of him.
Jon Gruden was the youngest NFL coach to win a Superbowl in 2003.
The Bucs canned him this year when he couldn't repeat, and led the team to losing seasons.
So... Why are the financial 'geniuses' who got their companies into the current mess still kept around?
I didn't understand it when Enron paid retention bonuses to senior execs, for their supposed 'expertise'.
I don't understand it now.
Can anyone enlighten me???
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