Why banking pay bonuses piss people off, how spanking is a good thing, what just compensation really is in Eminent Domain and why the military is meeting their recruiting goals

There was just so much stuff today that made this puppy’s head spin. Amazing how the news media can be given all the facts and come to the wrong conclusion simply by assuming the story HAS to be more complicated than the simplest explanation.

Banking bonuses getting paid to incompetent employees
Jim Cramer came on Morning Joe this morning with an opinion on why banking employees should get their bonuses. Revenue is up, stock prices are up, etc, etc. — everything that indicates that these are stellar performers and deserve the compensation. But, here is the kicker: in the dip, when the lack of liquidity would have sunk you, me and any other small business, these guys reached out for the duct tape called the Federal Government and took the money to bridge. Had the TARP money not been there, they would have crashed and burned, like lots of other small business and families do when they run out of cash. They only deserve bonuses if they had been able to pull their banks out of the nosedive without TARP. By accepting TARP, they failed. Who cares if they are able to pay it back, without TARP they would not be alive to be successful.

Spanking and cognitive development
The WSJ wrote an article about spanking. Perhaps the years of spanking I got as a puppy destroyed my cognitive abilities, but it is hard to figure out what conclusions they are drawing and overall, what they are actually saying in the article. It was be a more interesting study to show the generational spanking trends and the results of what kind of people they grow up to be. Spanking has been on a rapid decline the past 40 or so years in favor of “explaining and reasoning” with kids and in that time, we have produced 1 1/2 generations of the most spoiled, entitled adults ever. I’m not saying there is a connection, but worth exploring. Also worth noting that the generations that were spanked went on to invent the Internet and other cool stuff.

Just compensation in Eminent Domain
The WSJ ran an article on a Brooklyn neighborhood being torn down to build a stadium. The usual suspects emerged and the argument that Kelo “settled” between “public good” and “public use” is still being stretched. Why is nobody examining “just compensation” beyond “fair market value?” Being paid $50,000 for a piece of run-down, blighted property in Brooklyn is not “just compensation” whereas getting a share of the tickets sales on a new NBA stadium or a portion of the sales receipts of the local Walmart that was erected on your former “blighted” home is. “Fair market value” does not equal “just compensation.”

If private developers are going to benefit financially as well for property acquired through eminent domain, fair compensation should include a portion of the profits from the development.

The military is meeting its recruitment goals in spite of the wars in Iraq and Afghanistan
True headline read by Robin Meade on CNN’s HLN this morning. WTH? It is the ECONOMY, stupid! The economy and job market is so bad that the people for whom the military is an option, the risk of deployment is miniscule compared to the risk of starvation and homelessness.