Its quite simple, really. A group of people working collectively towards a common goal can be quite successful, so long as that goal is profit. The instant such a group becomes a government entity, their collective and individual IQ’s drop drastically, and they become inept and inefficient.
Because wealth and resources are created and acquired by the private sector, not by government.
gonzomax http://sociology.ucsc.edu/whorulesam...er/wealth.html The distribution of wealth in America has become as distorted as the Gilded Age. I do not know how the conservatives think the private sector is better at allocating wealth and resources.
[/QUOTE]
Buy any peanut butter lately.? They sent out tainted peanut butter because they made money. People get sick and die ,but it is OK if they help the bottom line .The Repub mantra of trusting the companies to do the right thing results in looting ,poisoning and death. The government has to reign these companies in. They cheat.
I agree that the filing statement is important. It is the primary source for all of the published analysis about executive pay. But the average person who doesn’t invest or have a background in finance will not understand the different components of executive compensation or the financial advantage of pay structure and perks without reading about it first. Executive pay is complicated and so are the accounting rules. A book that is researched and well documented is the best way to learn about a topic and doesn’t seem less serious than examining a proxy.
If you believe facts should always be cross referenced, then I understand your perspective. But considering the pervasive dishonesty and fraud witnessed in corporate culture, the SEC filing statements may not be accurate and the purported independent compensation board may not be unbiased. Two summers ago, a Congressional investigation discovered a number of companies misrepresented compensation consultants as independent when they were employed by the firm.
That list just shows who is on the board. While I WOULD consider this when reviewing how a particular media outlet reports on a certain company, it has little to do with interlocks that influence executive pay in some sort of a “you scratch my back, I will scratch yours” system that you seem to imply is endemic.
If you’re gonna hold a dance , you have to pay the band. They’ve come hat in hand for the government’s money. They screwed up individually and collectively.
They don’t like the salary caps? No problem. Just don’t take the money.
In reply to Hyde ‘ravages of the free market’ schickt.
You meant to say - ‘the absolutely inevitable consequence of a bubble collapsing, the warnings of which were ignored and the regulations designed to stop this sort of thing, hamstrung’.
The ‘free market’ is not like the weather.
The bubble itself was the product of incompetence, greed and malice of the very people who gorged themselves on the profits as they played pass the parcel with ridiculous emperor’s new clothes derivatives no one knew the value of or in most cases it turns out, even understood.
Causing the misery these people have caused merits a bullet in the back of the head, not a bonus.
An International Financial Crimes Against Humanity Tribunal should be convened and these people dealt with.