I think this is somewhat American thing where CEOs are paid hundreds of times more than regular employee. Certainly, you'd expect the board to fire the CEO who

I think this is somewhat American thing where CEOs are paid hundreds of times more than regular employee. Certainly, you'd expect the board to fire the CEO who can't perform. It's just if both the board and the CEO are cozied up together, why should they. And granted, there's a global downturn which gives a good excuse to explain the losses. To be frank though, firing the CEO probably wouldn't fix anything. You'd have to fire also other execs, maybe board members as well and you don't want to burn bridges with your golf buddies. It seems there's just poor accountability in general for management in US, not going to steer this off to politics but there seems to be an upper class which, once you reach, will take care of you if you're properly networked. Which is kinda how it goes in other places as well. US just has mastered capitalism in a whole another level.