Bank directors' bonuses

True/Slant is an interesting website, and I like Laurie Essig's column. A recent one is on the ridiculous bonuses paid to bankers, despite their proven ineptitude culminating in the current financial crisis (okay, I know it's not as simple as that). One particular paragraph stands out (especially since it keeps getting trotted out by the State Services Commission):

Furthermore, the absolutely insane propaganda coming from the likes of [Wall St insider Timothy] Geithner that these salaries are “good” for America because they attract the “best and the brightest” is not true. Insanely high salaries attract the greediest. Period. Work that doesn’t involve screwing other people and is fairly compensated attracts the best and the brightest since the best, by definition, are motivated by more than money.

Read the whole column. Then go read some other articles.