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UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of ten of America's presidencies and who has edited alternative journals since 1964. The Review, which has been on the web since 1995, is now published from Freeport, Maine. We get over 5 million article visits a year. See prorev.com for full contents of our site

January 13, 2010

WIT AND WISDOM OF RUDOLPH GIULIANI

Think Progress - On Don Imus' radio show, former New York City mayor Rudy Giuliani declared that from his point of view giant Wall Street bonuses are "wonderful":

GIULIANI: I have to tell you. You're going to get annoyed. I have a different view of bonuses than you do.

IMUS: OK.

GIULIANI: And this comes from my experience as mayor of New York. They balance my budget. They were wonderful from the point of view of getting the money you need to run New York City. Particularly when they were paid in cash rather than stock because in stock you don't get the benefit until somebody sells the stock. And but when they get it in cash, all of a sudden a deficit can turn into a surplus. So, I mean, I have somewhat of a warped view of this because it used to help me balance by big 30, 40 billion dollar budget.

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