Corporate welfare recipients kind of fit the old stereotype of the traditional welfare kings and queens who were accused by the reagan administration of pissing away their government checks on needless luxuries.
"Days before the collapse of Bear Stearns, the bank’s chairman, James E. Cayne, paid $25 million for a 14th-floor condo at the Plaza Hotel," the New York Times' Christine Haughney and Eric Konigsberg reveal Monday.
You might expect Cayne to be hiding from the financial crowd after Bear Stearn's collapse. He's not.
He's "invited to [a] May 10 party at the Plaza," Haughney and Konigsberg write. "It will feature a dozen female string musicians made up to look like statues and clothed in dresses of fresh flowers, like roses and gardenias. There will be caviar and Cognac bars, as well as a buffet designed to visually replicate 17th-century Dutch paintings from the recent Metropolitan Museum of Art exhibit, “The Age of Rembrandt.”
I smell a revolution.