Digby saves me the trouble of finding former New York Governor Eliot Spitzer's quote from the Rachel Maddow Show this week about whether we should fear threats from Wall Street that regulating compensation will result in people leaving their jobs. Spitzer said:
There's an old saying, I think it was De Gaulle. 'The graveyards are filled with indispensable men.' The AIG folks who are saying they're indispensable - test them. I think it's time to call their bluff. Say to them, 'you want to leave? Go away. We will replace you at one third of the pay.' The entire structure of Wall Street pay is out of control.
Amen.
These people would have no bonuses at all without the bailout of the American taxpayer. Now, in gratitude, they want to hold us hostage?
As Digby notes, in a country of 300 million people we can find others to hold down these positions. It's time to put an end to this reckless greed. If Wall Streeters don't like it, they can go. And they should not wait for the door to hit them on their behinds as they leave.
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