A little reminder from Colbert & some perspective from Jarvis
As George W. and Henry Paulson Jr. pressure Congress to “act quickly” and pass the $700 billion bailout, Stephen Colbert reminds us tonight that it took Congress nearly 10 years to agree to raise the federal minimum wage.
Speaking of wages…in 2007, Forbes put together this nice little chart listing the salaries of bank CEOs. Bank of America’s Kenneth Lewis raked in $99.8 mil in ‘06. I don’t know about you guys, but I was making $6.90 an hour that year. Maybe while us taxpayers save the financial markets, Ken could pay off a few of my student loans.
Or, perhaps the $700 billion could be used in one of the scenarios Jeff Jarvis proposes, such as sending 23 million Americans to public universities.