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Jens 'n' Frens
Idle thoughts of a relatively libertarian Republican in Cambridge, MA, and whomever he invites. Mostly political.
"A strong conviction that something must be done is the parent of many bad measures."
-- Daniel Webster
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Thursday, February 05, 2009 :::
I read that Goldman Sachs, my former employer, is aiming to pay back the TARP money it took "this year", to get out of the strings attached to that money. It's all to the better that these strings provide an incentive to pay the money back soon, though less so to the extent that the money was solving a coordination problem in the first place, if that coordination problem still exists. The thing is, I thought they weren't allowed to pay back the money for three years after accepting it. Is that not correct?
þ Taranto, who notes, regarding the new pay caps:Jobs at unsubsidized companies could be orders of magnitude more lucrative than those at distressed ones, attracting the best talent to the former and compounding the latter's distress. That's not necessarily a bad thing, inasmuch as it means well-run companies prosper while poorly run ones perish--part of the dynamic nature of capitalism. But that raises the question of why the government should be bailing them out in the first place. Most of which was kind of my brother's response, too.
::: posted by dWj at 2:42 PM
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