Bonus Schmonus

The current outcry against bonuses for executives at Fannie Mae and Freddie Mac proves that Barack Obama's efforts to create class warfare are succeeding. It is further evidence that our educational system still has not taught that labor is a commodity. Its price determined by market forces.

Commodity prices are governed by the rarity of the commodity and the demand for it. Gold and corn are both yellow. Ounce for ounce, gold is "worth" the most... unless one is starving on a desert island, in which case the demand for the corn would greatly exceed the demand for the gold.

I started two small businesses, both highly successful in terms of the product we provided. But I lacked the necessary management skills and both businesses failed. A lot of people lost their jobs. What would it have been worth to each of those companies to have found someone to do the job, and had the money to hire them away from their former position?

I have no idea whether the Fannie - Freddie officers now receiving the bonuses are capable of pulling those entities from the jaws of greater disaster. I have no idea how many dollars it will take to keep them on the job if they do. But, to simply say they should not be paid the required amount because taxpayers have money involved, is foolishness of the first order. (Or, perhaps, of the second order! Hope and Change supporters who elected Obama in the first place could hardly do anything more foolish!)