HuffPo Blogger Cheap Shots CNBC's Burnett for Not Toeing Populist Line

NewsBusters ^ | February 2, 2009 | Jeff Poor

[Rufus2007]

Don't like the notion of Wall Street employees receiving bonuses? Shoot the messenger - as Adam Green at The Huffington Post has done.

In a Feb. 2 post on The Huffington Post, Green said it was bad form for CNBC "Street Signs" host Erin Burnett to even think about considering the other side of the anti-Wall Street bonus argument, since some Wall Street banks received TARP funds, courtesy of the taxpayer.

"There are, though - well, how should we say this - the taxpayer money is not being used to pay the bonuses," Burnett explained on NBC's Feb. 1 "Meet the Press." "I think people could understand if you work for a company - right? If the three of us worked for a company, your guests, and I lost $10 billion but Steve [Forbes] over there, he made a billion dollars. So overall the company actually loses money, but Steve went and did his very darndest for that company and he made money. So should he be paid for his work? That's essentially what we're talking about here."

..more(w/video)..

[Rufus2007]

This war on Wall Street bonuses has the lefties at the Huffington Post on the verge of doing something dangerous in their parent's basement.

[Cowboy Bob]

How dare they! Erin Burnett is a Hottie!!

[TaxRelief]

I love watching Dems shoot themselves in the foot. Most people earning bonuses shift into a much higher tax bracket, which results in significantly higher $$$ going into the federal treasury.

If bonus money is used for — let’s say — low wage jobs, then the IRS will see a significant decrease in tax revenue.

Cut the bonuses = lower tax revenue = less money for welfare, roads, schools, public transportation and so on.

Fun to watch the stupid Dems implode.

[oldbill]

I can’t believe there are people here on Free Republic who are supporting these bonuses (from extorted taxpayer pockets).

Burnett’s comments are illogical and brain-dead. I suspect she earned her way into the job with looks and cuddles. If you can use that logic with executives then use it with the common workers too, rather than laying them off.

Don’t be surprised to find out that Burnett is getting a little more than news tips from some of those executives she covers.

[razorback-bert]

[Waco]

Meanwhile, actors, sports figures, singers, NEVER are critized or condemned over their ‘’income’’. Ain’t Merica great? Try being an illegal immigrant in any other country.

[fightin bronco]

Having previously worked on Wall Street, most bonuses are performance based, thus if my division/team did a great job (let's say) trading our firms proprietary positions, my team would most likely be eligible for a nice bonus. Even though another part of the firm lost several billion $$s. I do believe its not appropriate for CEOs to be taking bonuses now since they are are overseeing the entire firm.

[Walleye_Walter]

Isn’t it great to see the liberal Erin Burnett (who called George W. Bush a monkey) get criticized by the liberals!!!

I watch CNBC, but not when she is on the air.

[oldbill]

Wrong!

If the bonus money was from your company, then they can divvy it around any stupid way they want.

This is MY money (and yours) that they are using to reward these other divisions, something Burnett and you seem to ignore.

When the ship goes down, it takes everyone with it. The Astors don’t get their own floating luxury escape liner while the steerage drown.

[balls]

The ignorance and class envy on FR is getting too much to stomach. I thought Erin’s cogent explanation of how the bonus system works in financial services would bring reason to this discussion, but it looks like the neo-socialists on this site don’t want to learn.