Wednesday, September 17, 2008

Financial Fiasco

It is about time CEOs weren’t paid for bad behavior while the company they are running loses money and/or go belly up. I know we have been talking about executive compensations being 300+ times the earnings of the average American worker … is obscene and dangerous … but is it going to take a financial disaster and all of us losing our meager 401ks for there to be a real change. Meanwhile, outrageously paid CEOs are more than likely in the Hamptons not really worried about the rest of the world. I personally think if the government has to scoop in and bail out your company, you don’t deserve a 24 million dollar farewell package because YOU DIDN’T DO YOUR JOB. Rick Wartzman's: Put a Cap on CEO Pay.

American International Group salaries seem very excessive in the light of things, don’t they?

Wall Street firm Bear Stearns Cos pay

Do you think Bank Of America will pay him the same ridiculous salary?

Deposed AIG CEO Gets $47M

I am certainly glad we didn’t jump on board the Bush drive to restructure Social Security by creating private investment accounts.

In the wake of this U.S. financial calamity, moving into global proportions ... this situation we all saw coming ... I am disgusted and scared for all of us. We ask, aren't there suppose to be brilliant minds minding our economic affairs in Washington and on Wall Street? Have they all been vacationing in the Hamptons? Seriously? Frankly, whoever is elected this November is going to have a hard time getting this country back on track.


dee said...

Yes Kim, they have all been stinking up the Hamptons which is, sadly, all to close to my house.
I blogged about this a couple of days ago. The COEs and Hollywood celebutards have ruined much of our end of the island. Fortunately the tide is turning and land sales are being considered more carefully.
They are rude, nasty, impatient, poorly mannered, brats. We all heave a huge sigh of relief when they leave. Think the completely useless Paris Hilton X 100

Kim Carney said...

OMG, Dee, I was right. I knew they were hiding out somewhere ;) Maybe they will need to turn to a more money safehaven in the future, possible, Grand Cayman?