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For those who aren't outraged by executive pay....

KCFlyer

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Most interesting thing for me:

The total amount given to nearly 600 executives would cover bailout costs for 53 of the 116 banksthat have so far accepted tax dollars to boost their bottom lines.
 
Just too play devils advocate for a moment. IIRC some here have said that If unions are wise enough to negotiate a fat contract and management is stupid enough to agree to it why should they not accept the money. Cannot the same be said for the CEO's? Companies agreed to it and the employees said nothing so why not? Greed is what makes this world, especially the US run. Now all of a sudden we are pissed off? Sport figures get paid millions off dollars (I would hazard some get paid more than CEO's) and very few bat an eye. Teachers get paid pennies on the dollar for the work they do.

We are bitching about the door being unlocked when the horse is long gone. Capitalism is great when it is working in our favor. Limiting the CEO's compensation to what "WE" feel is adequate smacks of .... OH what's that word? Someone help me out here. Yet when we want to apply those same standards to something like health care then all those who are making a financial killing cry foul and they use that word .. come on, help me out..... I cannot think of it.

Capitalism is not the end all be all. This country is a bit more, dare I say it .... Socialist than it wants to admit. I for one see nothing wrong with that. I fail to see why CEO's should make a killing at the expense of the employees. I do not understand the reason Tony Rommo should make what he makes playing a childhood game while teachers who are educating the future of our nation are making pennies on the dollar. Yea, the US has it's priorities straight.
 
My nephew is my financial consultant at Merrill Lynch. I've already told him that I may move my account to another brokerage. Two reasons...

1. ML has been bought by Bank of America. I decided about 10 years ago that I had had enough dealings with BofA to last me a lifetime.
2. John Thain, the current CEO of ML, asked the board of directors for a $10 million bonus for 2008. His justification for a bonus that size? That he had managed to keep ML losses for the year down to only $11 billion!!!! Now that's major-league chutzpah.
 
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