So what did we expect to happen

Commentary by Jeff Burgar

A long time ago, in a town not so far, far away, it happened an acquaintance got his first paycheck working for “the government.’’

Up to that time, he was managing his own business. As so many entrepreneurs go, he struggled to make ends meet, pay staff and suppliers and bankers, and maybe, at the end of the month, find a few dollars to buy groceries.

Eventually it was just too hard. He joined the ranks of civil servants.

Looking at his first check, astounded by how little he had worked for so many dollars, he recounted the story: “I actually blushed.’’

I am reminded of this story whenever I hear someone trying to justify ridiculous paychecks paid to top managers and executives in both government and private enterprise.

We just closed our eyes. It was easier to write a paycheck than get in an argument with a union or somebody pretending to look after taxpayers. You know those ones. They are called politicians. Their main interest being a smooth sailing ship, short term doing what is best, they always argued, “If you want good people you gotta pay for them.’’

We all knew there was excess built into the system. But look where we are today! Salaries measured in millions of dollars! This excess is close kin to golden parachutes routinely paid to get rid of people. Another is lifelong pension. How about stock options making overnight millionaires. And today, there are the outrageous bonuses, in the hundreds of millions of dollars, paid to failed and failing bank and insurance executives in America. How do you get a bonus for bankrupting a company?

I look at it in black and white: When it comes to spending someone elses’ money, there will be no end of people lining up to cash in. And no end to the stories and excuses why those taking it deserve it. Personally, I think it would be a far different story if all these companies, board members and politicians had to spend money out of their own pocket.

So, when it comes to the latest outrage in the States, not for one second do I begrudge the bankers and business execs, greedy little pukes they are, for taking home hundreds of millions in dollars of bonuses and payout packages.

It’s all the result of too many people, everywhere, too willing to pay a bit too much money for a bit too little work. It just built on itself and this is where we end up. Worse, do you think any with their hands out today are even blushing? I doubt it.