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I think it's disgusting that bank executives have been giving themselves outrageous salaries and bonuses while running their companies and the national economy

by jm4 18y ago

I think it's disgusting that bank executives have been giving themselves outrageous salaries and bonuses while running their companies and the national economy into the ground. I'm angry that tax payers have had to bail them out and they continue to collect outrageous salaries. I absolutely believe their pay should be cut. In fact, I wouldn't even mind a little mob justice. That said, I think I'm bothered more about a government capping the salaries of those charged with using our money to turn things around. We need the best minds working on a solution and I can't help but feel like we're shooting ourselves in the foot when we've handed over all our money and then severely limited recruiting potential. Who will want to step up and try to right the sinking ships for comparatively low pay when there are opportunities at companies not subject to a government imposed salary cap? You can't hire the best candidates when you pay the least, and on top of it all can only provide a hostile environment.

Retric 18y ago
Nothing is saying they cant give them 1 billion in stock, the point is they can't suck money out of the company until the government get's their money back. The government has a long and successful track record of turning companies around that have say mob connections where people cooking the books. In some way this is basically the same thing. Companies payed high dividends and passed out bonuses and stock options like candy while ignoring the risks they where taking. Some of these company's would have been fine if they had not increased the dividend they had payed from what they where paying out 5 years ago. Every time they sent a dividend / bonus out the door they where hiding just a little more of their profit from the type of risks they where taking. So, if the company is run into the ground again the CEO will get 500k/year, but if they pay back the government their is nothing preventing that CEO from walking away with 100 million / year which seems reasonable.

by jm4 18y ago

Retric 18y ago

Nothing is saying they cant give them 1 billion in stock, the point is they can't suck money out of the company until the government get's their money back. The government has a long and successful track record of turning companies around that have say mob connections where people cooking the books. In some way this is basically the same thing. Companies payed high dividends and passed out bonuses and stock options like candy while ignoring the risks they where taking. Some of these company's would have been fine if they had not increased the dividend they had payed from what they where paying out 5 years ago. Every time they sent a dividend / bonus out the door they where hiding just a little more of their profit from the type of risks they where taking. So, if the company is run into the ground again the CEO will get 500k/year, but if they pay back the government their is nothing preventing that CEO from walking away with 100 million / year which seems reasonable.