RIDICULOUS EXECUTIVE PAY - Why The 700 Billion Dollar Bailout Does Not Make Sense
posted October 1, 2008 - 2:45pmThe executives who ran the recently collapsed Lehman Bros., Merrill Lynch, Bear Stearns, Fannie Mae and Freddie Mac into oblivion all prove one thing.
Sometimes you don’t always get what you pay for - SEE EXAMPLES BELOW:
Lehman Bros.’ Richard Fuld, $40 million.
Merrill Lynch’s Stanley
O’Neal, $46 million.
Bear Stearns' James Cayne, $40 million.
Freddie Mac’s Richard Syron, just shy of $20 million.
Fannie Mae’s Daniel Mudd, $12.2 million.
Until something is done about ridiculously exorbitant executive compensation, how can the government expect "normal" Americans to support the costly Wall Street bailout?
The 700 billion dollar bailout (handout really) essentially validates the Wall Street view that PROFITS ARE PRIVATE but LOSSES SHOULD BE SOCIALIZED. Executives have for years enjoyed huge paychecks and as soon as the going gets tough they expect the government to bail them out. This IS NOT ACCEPTABLE - Please let your representatives know how you feel (regardless of if you agree or disagree with me).
THANKS.

Comments
Despite The Massive Bailout - BONUSES ARE UP ON WALL STREET
AFTER The Bailout, AIG Sent Executives On A $440,000 Retreat
Not always
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Corporate personhood
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It would be an embarrassment for Congress
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Why not arrest CEOs behind the money mess?
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