Memo to Mr. Geithner and Mr. Summers:
You don’t need a PhD in Economics to understand the KISS principle. Put in place a Keep It Simple Stupid rule – the next banker or Wall Street executive to receive a taxpayer funded bailout must come to Washington, in person, to pick up the check. Let him arrive among the glare of reporters and make sure he flies coach, sitting in the middle seat. Let him know what it is like to be an average Joe instead of living in the rarified atmosphere of $1400 wastepaper baskets! Mr. Thain might still have his job today if he had flown coach.
You don’t need a PhD in Economics to understand the KISS principle. Put in place a Keep It Simple Stupid rule – the next banker or Wall Street executive to receive a taxpayer funded bailout must come to Washington, in person, to pick up the check. Let him arrive among the glare of reporters and make sure he flies coach, sitting in the middle seat. Let him know what it is like to be an average Joe instead of living in the rarified atmosphere of $1400 wastepaper baskets! Mr. Thain might still have his job today if he had flown coach.
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