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May: Al Qaeda vs. Hezbollah Harvard Health Letters: Fighting back against allergy season Kimberly Lankford: Grandparents who use FSA to cover grandkid's braces and other must-know info Jewz in the Newz by Nate Bloom:J ewish Tony Nominees/Tony Awards; Jewish Teen Actor In Sci-Fi Flick; Jewish singer in "Voice" finals The Kosher Gourmet by Anjali Prasertong: A tart filling so good it might not make it to the crust June 5, 2013 John Rosemond: Mom, Dad: Talk More and listen less Kristen Chick: Egypt court sentences 43 pro-democracy workers to prison Sharon Palmer, R.D.: Mushrooms Have Medicinal As Well As Culinary Value Morgan Housel: Why you never learn from your investment mistakes Don Lee: In China, kindergarten rivalry takes deadly turn The Kosher Gourmet by Sara Kate Gillingham-Ryan: 30-Minute Coq au Vin isn't a dream June 3, 2013 Molly Hennessy-Fiske: Military judge to consider letting Fort Hood shooting defendant represent himself Richard A. Serrano: Pvt. 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Jewish World Review Should bad behavior be rewarded? By Jim Mullen http://www.JewishWorldReview.com | When money managers are asked why they deserve tens of millions of dollars for pushing around other people's money, the answer is always, "the risk." They took the risk; they made the bet and won. To the victor go the spoils. That makes a lot of sense. When you take a big risk, you deserve to make a lot of money. You deserve the beachfront house, the private jet, the second home in Aspen. Sure, that's the same thing drug kingpins say, but there's one big difference: When drug dealers make the wrong bet, they go to jail. When money managers lose a bet, they get a bonus. "Oh," you might say, "but the money managers didn't break the law." Really? Who told you that? Oh, the money managers. I had a friend who chased down a purse-snatcher in Manhattan once and tackled the thief in a busy midtown crosswalk. The first thing out of the purse-snatcher's mouth was, "I didn't do anything!" He kept yelling that at the top of his lungs. When the police arrived, they wanted to arrest my thief-tackling friend instead, until the woman whose purse was stolen finally set them straight. So all the Wall Street money managers are yelling that they didn't do anything. I keep wondering, when are all the people whose purses were stolen going to set them straight? It seems to me that if you're going to be rewarded for taking a big risk and winning, you should be punished for taking a big risk and losing. Even if you're a banker or a stockbroker. Even if you went to Harvard or Yale. There's a reason we don't give gold medals to the people who come in last at the Olympics. It doesn't mean they are bad athletes -- after all, you have to be pretty good just to compete in the Olympics. But they didn't win. So why is it that if you're a money manager, you can come in last place and win a golden parachute? If risk is the thing that determines how we reward people, why aren't our combat troops making bags full of money for going to Afghanistan? Aren't they taking a risk? Aren't they risking a lot more than any stockbroker or banker? What about our police officers and firefighters? Wouldn't you say they're in risky professions? By Wall Street logic, they should all be paid $100 million a year for what they do. Maybe more. My friend Jack says, "If those Occupy Wall Street protesters are so against money, why aren't they protesting rich movie stars and rich singers?" Excuse me, but has some rich movie star ever been bailed out of financial trouble with your tax dollars? Has some profligate basketball star been bailed out with the public's dime? If so, I sure can't find any news stories about it. Money-sucking stockbrokers want you to think that the protest is rich vs. poor, that those who object are jealous of the rich. That's like saying you are jealous of the guy who mugged you because he now has more money than you do. No, you are ANGRY at the mugger for the mugging. And you want your money back. What if a mugger's defense attorney argued: "Sure, my client took the money, but that's the way capitalism works. That's the risk you take by walking down a dark street. You know you're going to get robbed someday -- what difference does it make if my client robs you or if somebody else does? Besides, my client has these 'Get Out of Jail Free' cards that he printed on the back of thousand-dollar bills and sent to all his friends in Congress, so let's just drop the whole thing." If you made money losing your clients' and your stockholders' money by taking "legal" risks and you got a taxpayer-paid bonus, don't call it "capitalism." It's something else entirely. Am I jealous of the money that rich stockbrokers made for themselves by losing money for their clients? No. Wall Street wants you to think it's about money. It's about justice. Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. Comment by clicking here. Jim Mullen is the author of "It Takes a Village Idiot: Complicating the Simple Life" and "Baby's First Tattoo." Previously: The perplexing problems of the rich and famous Do these glasses make my gut look big? More expensive by the dozen In one year and out the other Thank heaven it's Black Friday Planning for the long term ---- tomorrow READING THIS WILL MAKE YOU THIN AND HAPPY! The Seven Secrets of Success It's tough living off the gridIt's tough living off the grid How not to clean the houseIt's tough living off the grid The yellow badge of cowardice Any way you slice it Home sweet homeschooling Don't Head for the Borders Money ball Golf and death go hand in hand Tune in, turn off, unplug The radar curtain Is Steve Jobs clouding my privacy? The gift of garbage Johnny Intern, Ph.D. Twenty-foot fences make good neighbors You must remember this… TV experts and real news Hey caller, where's the fire? My sad cushy life Pacemaker, don't you mess around with me Big Brother is skinny Flight of the snowbirds This HDTV needs child support Dear Future: Where's the dome? Not so elementary, my dear Watson A vacation revolution Your call is very unimportant to us Life: There's no app for that Bam! Practical kitchen magic Poisoning myself Ban Huck Finn in schools --- even the sanitized version! $38,000 for traffic and weather updates 2011 Predictions: Nostradamus was a hack 2010: A year of annoying junk Why do bad things happen to stupid people? Moving on from movie theaters Money never sleeps, but it does pass out President Trump kept it classy Stalking your college kid won't change a thing Putting my life in ‘Jeopardy’ Mo' government, mo' problems iLostIt Dressed for excess Expert tease The mysteries of Jersey ‘You are a toilet, where am I?’ Don't we all cheat at the game of life? What happens when I forget where Google is? Don't let the doorman hit you on the way out Picasso fiasco Purple (hair) ‘Daze’ Let me hear your body talk Working from work Babies deserve clean restrooms, too 3-year-old bear-killers are a thing of the past Money-making ideas on the fly Collecting and hoarding Chain of fools Please come pick up your acting awards, ESPN commentators, you've earned them You've been superpoked by the U.S. gov't e-Readin', e-Writin' and e-Rithmatic A pose by any other name Warning: Column contains 2010 spoilers ‘He loves only gold, only gold’ Think about direction, wonder why … Flushing your money down a diamond-studded toilet More like ‘wack’ Friday The good, the ad and the ugly The desert of the real Let books be large and in charge I was insulting people way before the Internet GPS drill sergeant: Left, right, left! Butterfly in the sky, you make winds go twice as high Music to my ears it's not You don't light up my life Fair or not: Country living is far from ‘Little House’ A parable for the ‘ages’ Top 100 Cable news stories of the century Green dumb A developing story Thinking outside the lunch box What's good for the goose is good for the scanner Newspapers will survive, but network TV? A really big show of generation gaps When pigs flu The reports of our decline have been greatly exaggerated Mergers and admonitions Invest in gold: little, yellow, different Stuck in Folsom Penthouse Collecting karma Setting loose the creative ‘juice’ It's all in the numbers You're damaging your brain with practical skills The real rat pack The unspeakable luxury of the Park-O-Matic Gross-ery shopping © 2009, NEA

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