Re: Real News 03-08-08: Elite Neocon Parasites Spotlighted

On Mar 16, 12:26 pm, "Jerry Okamura" <okamuraj...@xxxxxxxxxxxxx>
wrote:
Executive pay is determined by the people who sit on the Board of Directors
as I recall.  So, whose fault is it that these people get the money they
get?  

The cabal of interlocked directorship crooks who staffed the boards to
pay the ceo crooks who lost money.

Besides, can you think of a foolproof way to determine who should run
a company, and know in advance that they will not mess things up?

No.. only fortunetellers like Rumsfeld and Cheney who publicly
practice fortunetelling do that.

I was just pointing out that executive crooks who have driven their
sharholders profits into the ground should not be paid bonuses of $121
million, $161 million, and $39 million... for having lost
$20,000,000,000.00 dollars of other people's money..
Anybody could do that... for free.


<lorad...@xxxxxx> wrote in message

news:68a86368-3944-4452-abd5-20e4c918fdce@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The crime?
Does 'Caught blood sucking as the Host Dies' count as a crime?

For educational purposes (again):

"WASHINGTON (Reuters) - The fat compensation packages of three U.S.
CEOs whose companies are being hammered by the widening mortgage
crisis came under harsh criticism on Friday at a congressional hearing
on executive pay.

In the last two quarters of 2007 alone, the three executives' firms
lost more than $20 billion on
investments in subprime and other risky mortgages, said the House of
Representatives Oversight and Government Operations Committee.

Yet the three took home fortunes in 2007 -- $120 million for
Countrywide Financial Corp CEO
Angelo Mozilo; a $161 million retirement package for ex-Merrill Lynch
CEO Stanley O'Neal; and $39.5 million in stock, options, bonus and
perks for former Citigroup CEO Charles Prince.

"The mortgage crisis is having enormous repercussions. Families are
losing their homes ...
Thousands are losing their jobs. It seems like everybody is hurting,
except for the CEOs who had the most responsibility," said California
Democratic Rep. Henry Waxman, committee chairman.

In a hearing room packed with bank lobbyists and lawyers, Waxman said,
"I have no problem with paying for success. But it looks like when
you're a CEO you get paid for failure."

Mozilo, O'Neal and Prince told Waxman's panel that they earned their
compensation. They conceded misjudgments in the subprime debacle,
while one Republican lawmaker blasted the hearing as "a sanctimonious
search for scapegoats."

Virginia Rep. Tom Davis said, "Punishing individual corporate
executives with public floggings
like this may be a politically satisfying ritual -- like an island
tribe sacrificing a virgin to a grumbling volcano.

"But in the end, it won't answer the questions ... about corporate
responsibility and economic
stability."  Continued..."
...

Of course it won't. The democons will wring their hands in
commiseration of their hard pressed electorate.. bleat a few bleats...
and things will continue as usual.

http://www.reuters.com/article/wtMostRead/idUSWBT00855520080307- Hide quoted text -

- Show quoted text -

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