Follow us:

Northwest Voices

Seattle Times letters to the editor

March 22, 2009 at 5:01 PM

AIG bonuses and political fallout

House reaction will hurt innocent people

The House bill to recoup the AIG bonuses was a shotgun solution [“Corporate conduct still vexes Congress,” page one, March 20]. It will hurt many innocent and hardworking individuals right here in Seattle.

When the FDIC seized WaMu last year, the assets were transferred to JP Morgan Chase, a TARP money recipient. While the WaMu executives were immediately dismissed, hundreds of WaMu workers were temporarily retained. These employees are not fat cats. They are worker bees supporting the transition of WaMu branches to Chase and helping the government with their follow-up investigation.

Yet, in many cases, the House measure would impose a 90-percent tax on the remaining WaMu employee’s severances. Now they lose their jobs and their severances.

I understand the furor, but punishing many because of a few makes no sense.

— Mark Cates, Seattle

Time for politicians to step up

I spent my life working for big companies and the one thing I learned is that management must set the general direction not only in words, but action. That said, I have the following recommendation:

How about the president and all elected officials in Washington, D.C., and across the country take a 20- to 25-percent pay cut? Pay would be reinstated once the unemployment numbers reach a pre-recession percentage.

We the people are constantly being told we must sacrifice, but what about them?

Actions mean more than words!

— Richard Charlson, Curlew

Comments | More in Federal bailouts

COMMENTS

No personal attacks or insults, no hate speech, no profanity. Please keep the conversation civil and help us moderate this thread by reporting any abuse. See our Commenting FAQ.



The opinions expressed in reader comments are those of the author only, and do not reflect the opinions of The Seattle Times.


The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►