{"id":2836,"date":"2011-02-05T02:30:27","date_gmt":"2011-02-05T10:30:27","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=2836"},"modified":"2011-04-07T07:29:59","modified_gmt":"2011-04-07T15:29:59","slug":"i-didnt-do-it","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/i-didnt-do-it\/","title":{"rendered":"I didn&#8217;t do it"},"content":{"rendered":"<p><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748703399204576108380072356842.html?mod=WSJ_hp_MIDDLENexttoWhatsNewsThird\">A story about Steve Eckhaus<\/a>, who negotiated some of the Wall Street pay packages that made the news during the reaction to the meltdown:<\/p>\n<blockquote><p><em>Among the pay packages with Mr. Eckhaus&#8217;s fingerprints is  <span class=\"topicLink\">Tom Montag<\/span>&#8216;s May 2008 deal to join Merrill Lynch, now part of <span class=\"companyRollover link11unvisited\">Bank of America<\/span> Corp. The package, which according to an SEC filing included a $39.4  million guarantee, was among those that caught the eye of regulators in  the fury over pay after the financial crisis.<\/em><\/p>\n<p><em>&#8220;It was understandable why there was anger,&#8221; says Mr. Eckhaus, but  &#8220;the crisis was not caused by Wall Street fat cats. It was caused by a  confluence of economic, political and historical factors.&#8221;<\/em><\/p><\/blockquote>\n<p>Unfortunately for Mr. Eckhaus, &#8220;a confluence of economic, political and historical factors&#8221; is a <a href=\"http:\/\/hodakvalue.com\/blog\/?p=159\">difficult story for a journalist to write<\/a>, an uninteresting story for the average citizen to read, and does not yield an obvious scapegoat to throw to the seething mob.<\/p>\n<p>So here it is one more time:\u00a0 highly paid people get what they can negotiate, just like any of us would in their place.\u00a0 The fact that we aren&#8217;t in their place is less their fault than ours.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A story about Steve Eckhaus, who negotiated some of the Wall Street pay packages that made the news during the reaction to the meltdown: Among the pay packages with Mr. Eckhaus&#8217;s fingerprints is Tom Montag&#8216;s May 2008 deal to join Merrill Lynch, now part of Bank of America Corp. The package, which according to an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,25],"tags":[],"class_list":["post-2836","post","type-post","status-publish","format-standard","hentry","category-executive-compensation","category-reporting-on-pay"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=2836"}],"version-history":[{"count":5,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2836\/revisions"}],"predecessor-version":[{"id":2840,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2836\/revisions\/2840"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=2836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=2836"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=2836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}