On Liddy:
Edward M. Liddy, the would-be rescuer of American International Group (AIG) who has become a target of wrath over Wall Street excesses and the ravages of the recession, knows all too well what is driving that anger. "There's fear in America," says Liddy, who came out of retirement last September to run AIG for the government for $1 a year. "People are very concerned about their jobs, their homes, their pensions."
I don't know about you, but I'm sick and tired of these bigwigs who think they're above the law. We have a minimum wage of $6+ per hour in this country, as far as I know, and if Liddy is planning to spend more than ten minutes per year at his AIG job, I think he's violating it. There are a lot of people out there, maybe hundreds of thousands, maybe millions, who are out of work and might be able to find jobs if they could offer their services for lower wages, or who would like to take a pay cut in order to accept a job where they could build skills but where they can't yet create enough value to justify earning minimum wage. If the rest of us have to sacrifice opportunities to obey the law, Liddy should, too. Alternatively, the Democrats could restore to all of us, not just political favorites, our natural right to work for any wage that a willing worker and a willing employer mutually consent to.
Comments