Read and watch as Megan McCardle of The Atlantic and Erin Burnett of CNBC defend TARP funded institutions paying bonuses with taxpayer bread.Please note I like both - Megan is uber-smart and Burnett gets me the news throughout my trading day - but it seems that they, like the Wall Street execs, are contending for perks in a world where Lehman's stock is at $56.92.
In that world, their defense of bonuses and private jets and lavish retreats are defended most staunchly by me - the capitalist progressive. But in a world where i-banks, their brethren (commercial banks) and cousins (large insurers) are feeding at the public trough then all bets are off. Burnett tries the weaksauce "left pocket, right pocket argument" but no dice.
When you and your wife move in with her parents hallway rug burns and kitchen table boom-boom are indefinitely on hold.
