SIGN IN to access Harper’s Magazine
Need to create a login? Want to change your email address or password? Forgot your password?
1. Sign in to Customer Care using your account number or postal address.
2. Select Email/Password Information.
3. Enter your new information and click on Save My Changes.
Subscribers can find additional help here. Not a subscriber? Subscribe today!
I spoke today with a former government official who was appalled by Obama’s suggested emergency aid to the auto industry and by the Bush administration’s bail-out of the financial industry. Here’s what he had to say:
I’m against these bailouts on principle but if you’re going to give these firms money, it certainly should be predicated on firing the CEOs, the CFOs and the whole corporate command structure. Management always has an excuse – it was the unions or the economy was bad or something else. But you were the guys in charge and now you want us to throw $25 billion into your failed company?
If it’s decided that a bailout is in the country’s strategic national interest, fine, then do it. But the taxpayers should not be asked to turn the money over to the people who fucked up the companies and ran them into the ground. But that’s the way it is across the board, there’s no accountability. The government didn’t fire anyone after 9/11 either. How do you even talk about generating innovation and creativity when you reward failure with staggering amounts of money? It violates every tenet of leadership and management.
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Rolls of toilet paper Chicago’s city government has produced this year from recycled City Hall wastepaper:
Two thirds of U.S. teenagers experience uncontrollable rage.
Russia lost, then regained, contact with a satellite carrying five geckos sent to copulate in zero gravity.
Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!
“I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.”