AIG vs. physicians

[Jeff05]

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explanation [of bonuses] offered by Edward M. Liddy, who was installed as A.I.G.'s chief executive when the government effectively nationalized the company last fall:

"We cannot attract and retain the best and brightest talent to lead and staff" the company "if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury," he said.


wow.

so i guess it's not acceptable in the world of finance, staffed with MBAs (at best) - who have ALL completely and utterly failed at their jobs, ruining the lives of millions to have their salary dictated by the government which OWNS them.

but, for physicians, it's "business" as usual. our compensation continually in the hands of insurers getting rich from our labor. of government officials attempting to win elections at our cost. of the "people" not wanting to take care of their health or pay for it's maintenance.

these people FAIL and get MILLIONS in BONUSES. we SUCCEED and get what the business world can't even fathom - arbitrary adjustment of compensation by the US treasury.

 

[coprolalia]

explanation [of bonuses] offered by Edward M. Liddy, who was installed as A.I.G.’s chief executive when the government effectively nationalized the company last fall:

“We cannot attract and retain the best and brightest talent to lead and staff” the company “if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury,” he said.


wow.

so i guess it's not acceptable in the world of finance, staffed with MBAs (at best) - who have ALL completely and utterly failed at their jobs, ruining the lives of millions to have their salary dictated by the government which OWNS them.

but, for physicians, it's "business" as usual. our compensation continually in the hands of insurers getting rich from our labor. of government officials attempting to win elections at our cost. of the "people" not wanting to take care of their health or pay for it's maintenance.

these people FAIL and get MILLIONS in BONUSES. we SUCCEED and get what the business world can't even fathom - arbitrary adjustment of compensation by the US treasury.

We can't collectively bargain. The system is rigged.

-copro

 

[2win]

We can't collectively bargain. The system is rigged.

-copro

Why not? pardon my ignorance - send us a link with the legislation.
2win

 

[jwk]

We can't collectively bargain. The system is rigged.

-copro

Why not? pardon my ignorance - send us a link with the legislation.
2win

As I recall, that's considered anti-trust.

 

[fastosprintini]

dude, don't you see that this guy is absolutely correct, toptalent goes to where it is rewarded, just look at me, had i been brighter upstairs i'd been playing with loan securitization and sit on my yacht in florida, instead i'm passing gas or struggle with crazy painpatients, see it's only fair....;D

 

[coldweatherblue]

while I'm sure the President was happy for the opportunity to present himself as a "champion of the American public" and I agree that the finance world failed and probably should've taken upon itself to forgo excessive bonuses, it is very disturbing to see how readily the government is willing to use popular opinion and a "we own you, do what we want" mentality to interfere with the private sector.

 

[proman]

Well, we DO own them. At least 80% of AIG. But a contract is a contract.

 

[MRW]

welcome to the new financial McCarthyism

 

[dhb]

Fannie plans bonuses of up to $611K for 4 execs

A bullet in their head would be better IMHO. Where's MMD when you need him ?

 

[proman]

Expect the same thing to happen to physicians when medicine is nationalized here. Except it'll be focused on any doctor making >$500,000. I can see it now, "No doctor should make an outrageous amount of money on someone's sickness".

 

[coprolalia]

Why not? pardon my ignorance - send us a link with the legislation.
2win

Here's a primer, 2win:

http://www.usdoj.gov/atr/public/health_care/204694/chapter2.htm#3b3c

If you are in private practice, you should already know this stuff. To everyone else, it's an interesting read. And, yes, it was published in 2004 during the midpoint in the Bush adminstration. It provides keen insight into exactly how policy wonks, politicians, and economist (who have little true insight into what we actually do) think.

-copro

 

[2win]

Here's a primer, 2win:

http://www.usdoj.gov/atr/public/health_care/204694/chapter2.htm#3b3c

If you are in private practice, you should already know this stuff. To everyone else, it's an interesting read. And, yes, it was published in 2004 during the midpoint in the Bush adminstration. It provides keen insight into exactly how policy wonks, politicians, and economist (who have little true insight into what we actually do) think.

-copro

Thanks copro - very, very interesting read.
2win

 

[asmallchild]

Expect the same thing to happen to physicians when medicine is nationalized here. Except it'll be focused on any doctor making >$500,000. I can see it now, "No doctor should make an outrageous amount of money on someone's sickness".

Conversely, butcher a company for selfish short-term gains and you can coast away with a golden parachute of $5 mil. Or more. 😡

 

[Jeff05]

now the AIG head db is asking the employees to give half back.
they just don't get it.

 

[deleted50478]

As I recall, that's considered anti-trust.

Teachers have a Union.

We could collectively bargan, we just can't use the threat of a strike to manipulate payors. Then again it's illegal to find out what other doctors get paid for the same things as you do, so it's probably hard to organize a group that is forbidden to gather relevant information...

 

[jwk]

Teachers have a Union.

We could collectively bargan, we just can't use the threat of a strike to manipulate payors. Then again it's illegal to find out what other doctors get paid for the same things as you do, so it's probably hard to organize a group that is forbidden to gather relevant information...

Ah, the light goes on by the end of the post.