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9/11 Options Dating: Pseudo-Scandal or Un-American Assclownery?

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The Wall Street Journal’s Saturday edition carried a story about executive stock options granted shortly after September 11, 2001—when share prices had plummeted so that the options granted were relatively cheap compared to what they would have been before the attack—that has sparked a bit of a debate on some of our favorite financial blogs. Eddy Elfenbein at CrossingWallStreet thinks it’s a pseudo-scandal, and quotes extensively from a post by Larry E. Ribstein arguing that the Journal is getting heated up about nothing.
Barry Ritholtz has a slightly different point of view:

I'm going to take it a step further: These assclown executives are unAmerican. They are not Patriots, they are not model citizens -- they are merely a pathetic group of opportunistic whores who might as well hang outside the Holland Tunnel looking for a quick buck (although that would involve risk and work, something they have shown a distinct aversion to).

The WSJ Breaks a Pseudo-Scandal
Post-9/11 Option Grants Under Scrutiny [TheBigPicture]