Justice_ What's the Right Thing to Do_ - Michael Sandel [130]
21. Mary Williams Walsh and Carl Hulse, “A.I.G. Bonuses of $50 Million to Be Repaid,” New York Times, March 24, 2009, p. A1.
22. Greg Hitt, “Drive to Tax AIG Bonuses Slows,” Wall Street Journal, March 25, 2009.
23. Not all recipients of the disputed A.I.G. bonuses were responsible for having made the risky investments that created the havoc. Some had joined the financial products division after the crash, to help clean up the mess. One such executive published an op-ed piece complaining that the public outrage had failed to distinguish between those responsible for the reckless investments and those who had had no part in them. See Jake DeSantis, “Dear AIG, I Quit!,” New York Times, March 24, 2009. Unlike DeSantis, Joseph Cassano, president of A.I.G.’s financial products for thirteen years, made $280 million before leaving the company in March 2008, shortly before the credit default swaps he championed ruined the company.
24. Senator Sherrod Brown quoted in Jonathan Weisman, Naftali Bendavid, and Deborah Solomon, “Congress Looks to a Tax to Recoup Bonus Money,” Wall Street Journal, March 18, 2009, p. A2.
25. President Barack Obama, remarks by the president, the White House, March 16, 2009, at www.whitehouse.gov/the_press_office/Remarks-by-the-President-to-small-business-owners.
26. Michael Shnayerson, “Wall Street’s $16 Billion Bonus,” Vanity Fair, March 2009.
27. President Barack Obama, remarks by the president on executive compensation, the White House, February 4, 2009, at www.whitehouse.gov/blog_post/new_rules.
28. Senator Grassley made his comments on WMT radio in Iowa. They are reprinted in The Caucus, a blog on the New York Times website. See Kate Phillips, “Grassley: AIG Must Take Its Medicine (Not Hemlock),” March 17, 2009, at Click Here.
29. Ibid. See also Kate Phillips, “Senator Wants Some Remorse from C.E.O.’s,” New York Times, March 18, 2009, p. A15.
30. Alan Schwartz, former chief executive of Bear Stearns, quoted in William D. Cohen, “A Tsunami of Excuses,” New York Times, March 12, 2009.
31. Ibid.
32. Shnayerson, “Wall Street’s $16 Billion Bonus.”
33. David R. Francis, “Should CEO Pay Restrictions Spread to All Corporations?,” Christian Science Monitor, March 9, 2009.
34. Ibid.
35. CEO pay figures from analysis of 2004–2006 data by Towers Perrin, cited in Kenji Hall, “No Outcry About CEO Pay in Japan,” BusinessWeek, February 10, 2009.
36. The classic formulations of the trolley case are Philippa Foot, “The Problem of Abortion and the Doctrine of Double Effect,” in Virtues and Vices and Other Essays in Moral Philosophy (Oxford, UK: Basil Blackwell, 1978), p. 19, and Judith Jarvis Thomson, “The Trolley Problem,” Yale Law Journal 94 (May 1985): 1395–415.
37. The following account is drawn from Marcus Luttrell, with Patrick Robinson, Lone Survivor: The Eyewitness Account of Operation Redwing and the Lost Heroes of SEAL Team 10 (New York: Little, Brown and Company, 2007).
38. Ibid., p. 205.
39. Ibid.
40. Ibid., pp. 206–207.
Chapter 2: The Greatest Happiness Principle / Utilitarianism
1. Queen v. Dudley and Stephens, 14 Queens Bench Division 273, 9 December 1884. Quotes from newspaper account in “The Story of the Mignonette,” The Illustrated London News, September 20, 1884. See also A. W. Brian Simpson, Cannibalism and the Common Law (Chicago: University of Chicago Press, 1984).
2. Jeremy Bentham, Introduction to the Principles of Morals and Legislation (1789), J. H. Burns and H.L.A. Hart, eds. (Oxford University Press, 1996), chap. 1.
3. Ibid.
4. Jeremy Bentham, “Tracts on Poor Laws and Pauper Management,” 1797, in John Bowring, ed., The Works of Jeremy Bentham, vol. 8 (New York: Russell & Russell, 1962), pp. 369–439.
5. Ibid., p. 401.
6. Ibid., pp. 401–402.
7. Ibid., p. 373.
8. Ursula K. Le Guin, “The Ones Who Walked Away from Omelas,” in Richard Bausch, ed., Norton Anthology of Short Fiction (New York: W. W. Norton, 2000).
9. Gordon Fairclough, “Philip Morris Notes Cigarettes’ Benefits for Nation’s Finances,” Wall Street Journal,