Have you considered releasing some of the equity tied up in your owl?
$37.8 billion here … $85 billion there …
… pretty soon you’re talking about real money.
Who cares? CEO’s are just the people you put in front of the people responsible for the actions of a corporation to take the bullets.
They’re an meaningless and ultimately expendable bunch whose useful life at a given corporation is between 2 and 5 years which means that some other sucker will be filling the seats of the current roster of dipshits and scumbags before the next President is done with his first term of trying to fix the problems caused by the current roster of dipshits and scumbags.
Horse drag them.
Hang them by the neck until dead.
Force feed them owl/Cervaise shit on pay per view.
Take away everything they have, everything they want and everything they will ever earn until they die.
Do to their collective rectums what they’ve done to the economy and all the people suffering from its’ after effects. With a giant steel pineapple.
Maybe, if the punishment for bringing about the potential ruination of the global fucking economy were punishable by, like treason, death, or worse, perhaps these fuckwits with something to live for would make better decisions about the course of their companies.
All that said though, it’s really our (meaning Americans’) fault.
We’re the ones who said
“Interest only! Sign me up!”
“A $500,000 house for $800 a month, why how could ANYTHING go wrong with THAT???”
“No, we know you haven’t had a job, a place to live or any recognizable income for the ten moths you’ve lived in the US, but y’know, we like you, here’s $300,000 for a house, now get outta here, ya nut, enjoy your new home”
People borrowed beyond their means, banks lent to people they shouldn’t have, all of them had dollar signs in their eyes and now we ALL have to pay for it.
American Dream my fat, white German Ass.
I will rent until I die.
$37.8 buh, buh billion!!! I’m really having trouble viewing the CEO’s with the hookers-with-a-heart-of-gold angle.
Oliver Twists’ plea for “some more” pales in comparision.
I don’t know about you, but this committed capitalist does not take jobs on the assumption that at some unspecified time in the future, he will be able to enjoy thousand dollar manicures on the dime of a company he has so comprehensively fucked that every person in the nation is forced to pay for his mistakes. He also knows several people who have worked their butts off for financial firms and have been left unpaid (and with unpaid vacations) because their CEOs decided to ship all the money out of the regional offices so they can a) sell the choice bits more easily and b) pay themselves the bonuses they deserve for fucking their employees in the arse.
Personally speaking, my capitalist principles dictate that I try to get fair recompense for the value I provide to a company. To me, that means that I should work hard and deliver goods, and this I strive to do. Strangely, getting my toes done while being bailed out by the taxpayer has never entered my calculations. Call me weird, I suppose. Maybe you only became a lawyer in order to get that simply divine face scrub, but I doubt it.
On a more general note: I realise you’re having an absolute lark pretending to be the lone voice of illiberal reason on this board, but I have to suggest that you give serious consideration to the possibility that you are far less intelligent than you think.
It’s my curse. I can see why these short-timer CEOs want a golden parachute.
“I’m not responsible for these toxic loans, made before I arrived,” they could say. “It is unfair to compensate me based on the company’s value in stock, which can change due to decisions I never made. You are asking me to take responsibility for billions of dollars in investments approved by a predecessor, which I cannot properly value. If I am to steward your company,” they could say, “I wish to be compensated for my efforts without being penalized for the actions taken by the company before my arrival.”
Now, of course, once they have accepted compensation on those terms, they should have fixed the fucking problem. But once you make a deal like that there’s no incentive to, really. Shame.
I simply cannot accept the glib explanation that “it was all scheduled in advance, before they knew about the crash and the bailout.” Bull. Shit. They cannot possibly have scheduled the event prior to accepting billions in uncollectible debt.
A new meme for the SDMB.
We need one.
I can’t even begin to say how pissed I am at the $440,000 that AIG executives felt entitled to for a vacation.
That money needs to be paid back from their own personal bank accounts.
700 billion. No oversight. What a wonderful idea.
If we tar and feather the execs on TV, and then draw and quarter them as an example, it would be well worth the money.
Not only did AIG go back to the well for more money ( I won’t bore you with the intricacies of that ), but apparently they still have vacation time left to use.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=artiqRCAFbNI
Where the hell is Airman Doors when you need him?
I don’t know, maybe some of us just figured that like MOST people, they could be held responsible for their actions. If I had fucked up that royally in MY job, I’d have gotten my ass canned. There’s no way I would have been able to just walk away scot free-let alone rewarded.
But apparently “responsibility” is a dirty word in the corporate world?
You gotta admit that the current system ain’t exactly attracted the best and brightest.
But maybe we shouldn’t blame the CEOs. If I were able to negotiate a deal whereby I was able to enjoy a lot of company perks and pocket millions of dollars even after my decisions were shown to utter crap…I think I would probably do it. Maybe we should save the shitowls for the Boards of Directors?
What do you need me for? You guys are doing just fine without me.
Because it’s more fun when you’re around to stomp on the dumbasses?
I suspect that for some people it would indeed lower desire to be a top executive - specifically those who plan to do something which would garner a punishment. Happily, the job of top executive is, in most companies, not exactly a hard one to fill with but a couple of persons interested in the job; I would feel safe in the knowledge that such an act would weed out those who desired to dick over the company as a top executive while still leaving those who don’t (and of course, though who do but think they’ll get away with it).
Let me return your question to you; what do you think would be the effect on the economy as a whole?
What’s worse than being hit by stifled hysterical laughter amid your coworkers? The idea of trying to explain to them what’s so funny.
Hardly. I define the median. Half the time I’m the stomper and half the time I’m the dumbass. I have no wish to throw my hat into this ring and find out which it will be this time.
We’re out of JDAMs!
I’m absolutely certain that thousands of people who are worried that they’re not going to have a job, let alone a bonus, come December, feel the exact same way. Them’s the breaks.
As previously mentioned, I completely understand (and agree with) high risk/high reward. But **no **risk/high reward is a complete bastardization of what capitalism is supposed to be.
I hate to be completely cynical, but I think that at root, regardless of everything that has been written about how stupid these people could be to have done this, the ultimate answer is that they really don’t care. They will loot the company, take whatever perks they can get their hands on, and still sleep just fine at night in their mansions. They will walk away from all of this just about as rich or richer than they were before, and will not feel on bit of regret. Hoping that “they will get theirs in the end” just eases the envy a little bit. Truth is, almost no one “gets it in the end.”