RIDICULOUS EXECUTIVE PAY - Why The 700 Billion Dollar Bailout Does Not Make Sense
RIDICULOUS EXECUTIVE PAY - Why The 700 Billion Dollar Bailout Does Not Make Sense
The 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.
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Why not arrest CEOs behind the money mess?
I think that the CEO's responsible for the mortgage meltdown mess should spend some time in prison (or at the very least not escape with millions of dollars in compensation). Prison time would not fix the problem but maybe it would convince a few up-and-coming execs to behave a little more ethically.
For some insight, read the article at: http://www.msnbc.msn.com/id/27013906/
It would be an embarrassment for Congress
If the criminal activity that led to the failure of Wall Street were laid out for all the world to see, it would be a huge embarrassment for Congress and the White House. Not only would Americans get to see that government meddling in the free market system destroyed the economy, those same Americans would get to see that Congress is firmly in the pocket of the same corporations that just got a free handout.
The way out of this is to ban all corporate lobbying (read: donations and kickbacks to Congresscritters) and for the federal government to end its meddling in the free market system. I would add end the Federal Reserve, too, and restore the Constitutional requirement that the Treasury mint and print what Congress authorizes for money supply.
DO YOU HAVE THE WRITE STUFF?
Corporate personhood
Cannot stop corporations from lobbying. It is the right of every American to lobby their representative. Companies are juridical persons, ergo they can lobby. The only way to stop them is to remove corporate personhood.
Money for your Thoughts - join now
Epi-BV
Not always
Under U.S. law, a corporation is an artificial entity that exists as a privilege of a government. Yes, it is a "person" for tax purposes, but it is without the inalienable rights granted flesh-and-blood human-being-type persons, so it cannot lay claim to the same rights.
DO YOU HAVE THE WRITE STUFF?
AFTER The Bailout, AIG Sent Executives On A $440,000 Retreat
Less than a week after the federal government spent YOUR MONEY to bail out American International Group Inc., the company sent executives on a $440,000 retreat to a posh California resort.
WHEN ARE WE GOING TO SAY, "ENOUGH IS ENOUGH"?
Read the details at http://www.msnbc.msn.com/id/27075884
Despite The Massive Bailout - BONUSES ARE UP ON WALL STREET
Yes, you heard that right. While the average American earns around $45,000 per year, Wall Street bankers still earn hundreds of thousands of dollars IN BONUSES despite all the pain that they have caused. Now that you know where your $700 billion is going what are you going to do?
See Video at:
http://www.msnbc.msn.com/id/21134540/vp/27407645#27407645