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I hope they all have as much trouble finding a crappy job as the rest of the country. I'm sure in their arrogance that they think they'll land another cushy job right away. I wish them a very healthy dose of reality.
Individuals in this income and job levels dont have any trouble finding jobs. In fact they usually have job offers lined up from head hunters who chase them down. They also have a network of "buddies" from corporate boards that they usually sit on, numerous boards, so one job, even one paying $15M a year, is of little loss to them.
These types of individuals dont have 10 different jobs for the money, they thrive on it, and giving up one position with another 9 board positions has little negative consequences..
I can personally guarantee folks on city-data these executives couldn't make anywhere the same amount of money in a real free market environment. The only way they'd continue to get this kind of pay would be as a "consultant" for the World Bank, WTO, Trilateral Commission, or some other government influenced organization. Let's check back and see in a few months, mmmkay?
You are confusing real innovators who build factories and invent products with moneychangers who contribute nothing. Loans would still be made if credit unions and small banks ruled the country, and a true market interest rate would be realized, not privileged interest rates that equate to "free money". Giving big banks bailouts basically is like cutting off the left testicle of the credit union guy and then asking him to make kids.
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Originally Posted by EinsteinsGhost
The knowledge that brought down these businesses to its knees? Keep underestimating the talent around you, the world will move forward. These crooks need you. I completely agree with summer73. A business owner who started his/her business, put his/her sweat to build it, will have a lot more respect for running the business, at any cost, and making sacrifices. They're the ones who know and understand capitalism and what it takes to keep it strong. These crooks you speak for, are opportunists. If they cared for the business, they would be a lot more sane and willing to help the business, not put themselves first.
The problem with both of these statements is that both of you seem to confuse CEO's and high-mid level managers. CEO pay may need to be limited. But both of you seem to think that it's only the top floor of the skyscraper who make big bucks. Both of you are wrong. Mid-level managers at big companies are what make the operation run. Those are the individuals with the institutional knowledge that you both seem to abhor.
The problem with both of these statements is that both of you seem to confuse CEO's and high-mid level managers. CEO pay may need to be limited. But both of you seem to think that it's only the top floor of the skyscraper who make big bucks. Both of you are wrong. Mid-level managers at big companies are what make the operation run. Those are the individuals with the institutional knowledge that you both seem to abhor.
The mid-level managers will still get a paycut in the free market, guaranteed. There is no free enterprise position that can afford to pay these lofty government backed salaries. Contrary to what you may think, I recognize that BoA was about as far removed from capitalism as can be.
I can personally guarantee folks on city-data these executives couldn't make anywhere the same amount of money in a real free market environment.
Thats just funny, you first personally guarantee that these executives cant make anywhere near the same amount of money, right before you
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Originally Posted by summers73
The only way they'd continue to get this kind of pay would be as a "consultant" for the World Bank, WTO, Trilateral Commission, or some other government influenced organization. Let's check back and see in a few months, mmmkay?
List ways that they can make near the same amount of money, if not more..
Companies arent run into the ground, they are facing temporary crash crunches due to money being tighter to get, ironically because money is floating to the government at all time records, and a world wide economic collapse due to depreciating currency values and inflated debt.
you know that stimulus package, that was to help cure the nations problems, IT DIDNT WORK, because it had to take out $787Billion out of the economy that could/would have been invested into these companies.
Then these executives have no foresight or creativity to deal with the "cash crunches" beyond taking bailout money. When a company is having bad times, a good business owner would take a cut in pay if necessary to keep liquidity within the company.
The mid-level managers will still get a paycut in the free market, guaranteed. There is no free enterprise position that can afford to pay these lofty government backed salaries. Contrary to what you may think, I recognize that BoA was about as far removed from capitalism as can be.
Agreed, these people who think the CEO's are going to cut their salaries, but pay the mid managers more than they make is kidding themself.
Reading comprehension must be a talent lacking of many liberals.
Thank you! I was worried we might agree even once.
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I never said that those on top should have no educational qualifications, to pretend I did is dishonest, I said that those up top need experience.
You worship those on the top. I don't. I know better.They ARE replaceable.
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Have I worked in a corporate environment, yep, worked my way up to be laid off by the best of them, my knowledge got me up the ladder, my lack of experience got me out the door, (as it should have).
You gained knowledge but didn't gain experience? Let me put it this way... you were replaceable, like everybody else.
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Honda discussion adds nothing to the topic, someones choice to accept less pay does not equate to a demand by the federal government that one must accept it.
It does. What it doesn't, is help this stupid idea that companies can't be run efficiently with lower salaries at the top. There would be no need for government intervention, if the CEOs weren't stupid enough and their decisions didn't affect the health of the nation. But, then we do differ in our abilities to comprehend things.
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these CEOs and top management also can take their knowledge and skills and simply earn more elsewhere, and now that we have taxpayers money invested into these companies, I for one want the most qualified individuals in charged who has the best skills and knowledge to return to the taxpayers the amount invested, regardless of the cost.
The tax payer dollars that went into these companies didn't go so they can be used to buy mansions and yachts, or sponsor pleasure trips. They went into business. If you want to help these sorry CEOs, start a grass roots movement, get donations and help them survive.
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Replacing these individuals with "college kids" to save a few million...
Ahem... that comprehension thing creeps up again. So, you worship CEOs and the top management. You believe they are irreplaceable. And that, if they quit, the only people to replace them are "college kids".
BTW, why do you underestimate college kids? Could they do any worse?
Thats just funny, you first personally guarantee that these executives cant make anywhere near the same amount of money, right before you
I made the exceptions as noted. Only by working directly with the government can they make more. The government has the ability to outbid any private business, so that should come as no surprise.
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List ways that they can make near the same amount of money, if not more..
The only way they can make more than they previously made was just as I stated, by working directly with a government backed entity like Fannie/Freddie or World Bank. Ever since they accepted the job at BoA, they were federal employees without even realizing it, and yes even before the world bailout was on the mind of anyone. I'm curious as to their new salary as a VP of the local credit union or even a big bank like BB&T.
Then these executives have no foresight or creativity to deal with the "cash crunches" beyond taking bailout money.
Not only that... but what about the companies that stupidly became counterparties on various default swaps or other credit derivative instruments which they did not even fully understand?
Remember, CEOs were being paid tens of millions of dollars (or much more) at the time they authorized those moronic maneuvers.
But apparently they "deserved" to be "rewarded" for their "great skill"...
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