biting the hand that feeds you

From the Economist this week:

New York state’s comptroller said that BONUSES paid by Wall Street firms to their New York City employees (residents and commuters) fell by 44% in 2008, costing the state $1 billion in lost tax revenues and the city $275m.

Finally, an end to the bonuses! The rich no longer getting richer at the expense of the proleteriat! Oh wait, that’s what New York’s morbidly obese state government has been feeding on. I hate Atlas Shrugged parallels, but the resemblance is rather uncanny.

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