There’s no love lost between New York Governor Paterson and President Obama these days. Obama’s pay czar’s decision to slash the pay of Wall Street execs didn’t help matters. Paterson estimates the revenue hit for New York at about a billion bucks.
David Paterson, ever the friend of the White House, just attacked the Obama administration’s decision to restrict bonus pay with John Gambling on WOR.
“That probably cost New York $1 billion,” Paterson said. “And look, I’m not going to defend these people that run these companies. They’ve frittered away a lot of money in these reckless schemes. But the reality is, in the end, we’ve lost $1 billion dollars because of that act. And there goes that pipe dream legislators engaged in reacting to my cuts.”
Why do I feel the need to go hide my wallet, after stocking up on a few years’ worth of essentials? (Like soda.)
H/T Allahpundit
Update: Headline has been corrected. Oops!
Hehehe! It’s lovely when they feast on each other. I can’t feel sorry for Patterson. He wants everything from everybody. I think it is wrong to regulate salaries, I think it is wrong to take the money or offer the money in the first place. Now we are in a fine fix – courtesy of the government.
None of these execs will want to continue on. They don’t have to. So who will step in and run these giants for $200,000/yr. It gets scarier every minute.
I don’t know. Maybe someone fresh with his/her business degree and international finance doctorate, will bring us out of this terrible, terrible state.
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I’d share your optimism for someone fresh out of college, but have you noticed what the colleges are doing to the minds of young Americans? Heaven help us.
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[...] do not expect the bill to be vetoed,’ said Senate Armed Services Committee Chairman Carl Levin. Paterson to Obama: You Just Cost Us a Million Bucks – lonelyconservative.com 10/23/2009 There’s no love lost between New York Governor Paterson [...]
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