Tuesday, October 28, 2008

CEO = "Congressional Executive Officer"

Suddenly every politician knows how to run a business. For example, Congressman Henry Waxman attacked American International Group for spending $440,000 on a conference for its top-performing life insurance agents. 

No mention of the fact the agents were self-employed. No mention of the fact without top performing agents, the company would be in even worse shape. No mention of the morality and common sense of paying for performance. Just another cheap shot at a seriously wounded enterprise. Just another case of a politician willing to pretend expertise, so long as it grabs a headline, a contribution or a vote.

Read more from The Economist here.

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