Money, Power, Politics, by Joyce Purnick: on Budget & Economy


Mike Bloomberg: 2008: Wall Street executives deserve bonuses

Bloomberg brought a social conscience to his good fortune, always feeling a responsibility for the less privileged. But his great wealth and Wall Street training also narrowed his vision. Try as he occasionally does to be Everyman, he looks upon life through upper-class lenses.

Though he made a show as mayor of riding the subways, he insisted during the great recession of 2008-2009 that the failed and irresponsible Wall Street executives deserved their extravagant bonuses. And he could startle a Brooklyn audience of recession-struck Caribbean immigrants by asking, to illustrate a bureaucratic problem, how many of them played golf.

Source: Bloomberg: Money, Power, Politics, by Joyce Purnick, p.193 Sep 28, 2010

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