So it’s finally coming down. The pay czar has studied the situation. Thought about it. And declared his intention to send a message. Pay for the top 175 executives at the financial institutions that took a bailout are to have their base pay cut by as much as 90%, and total comp by 50%. Seven companies will be affected. Of course, we don’t know precisely which executives are on the hook, but I think we can draw our own conclusions.
America has been waiting for quite some time to see some green blood in the water, and this move only begins to address the underlying rage our nation feels at Wall Street and its minions. Still, you have to feel a twinge of empathy for these 175 individuals who are the first to shoulder the blame for all that our financial institutions have done to screw up our economy. Thousands were involved, of course, but these 175 must stand in the forefront of their cadre, trembling, as their golden parachutes are folded up and put away, their ceremonial swords broken over the knee of the government.
Think of the sacrifices that these few, unlucky individuals will have to bear! Here are just a few:
- Significant and immediate cutbacks in philanthropic activity.
- The new yacht will have to be canceled. Last year’s model will have to do.
- The private jet will have to go. At best a Netjet time share will fill in the gap, but it’s quite possible that from here on in some of these folks will have to fly commercial. That’s huge.
- That third home in East Hampton or Malibu will be put on the block; some executives will even be down to just one primary residence.
- No Easter break in St. Bart’s for the entire extended family, and the compound in Martha’s Vineyard will have to be leased out for the entire month of August.
- Taxicabs instead of car and driver. While the occasional limo may be a possibility, waiting time is out of the question.
- Some club memberships will have to be winnowed out, leaving perhaps only one golf and one beach and tennis club for the foreseeable future.
- Support payments to former spouses will have to be renegotiated.
Obviously, dire times call for dire measures. Whether the radical actions contemplated by the Federal Government are warranted, or are too much, too soon, has yet to be ascertained.
To follow Stanley Bing on Twitter, go to twitter.com/thebingblog.

Fall is just busting out all over. You can hardly stand up safely the good news is just flying around so fast.
Sometimes you just don’t know what to think.
NEW YORK, May 18 – Stanley Bing said on Monday that he plans to sell an undesignated amount of stock in his formerly privately held BingCo., and also plans a note sale to help repay funds he has borrowed from various sources. He also announced that he was taking a $872 million charge against earnings. The notes are being designed by his friend Stu right now, according to Bing, and will be very attractive.
The sky is blue. The trees are green. The birdies is on the wing. And the majority of our banks have
Okay, I hear you. You’re sick of the bad vibes. You want to get your collective head out of the community toilet. Stuff you’re tired of hearing about: bailouts, stinky hedge fund shenanigans, executive compensation, retention bonuses for guys who weren’t retained, criminal excesses by shady Wall Street buttheads, economic prognostications offered by those who didn’t prognosticate anything when it needed to be prognosticated.
You guys aren’t going to like this, but you know who I feel sorry for? Edward Liddy. That’s right. He’s the guy the government appointed to run AIG after Hank Greenberg and his gang set it up to crash and burn. Today Greenberg popped up on television like a vicious Mini-Me to 
