MaggieMae
Reality bits
- Apr 3, 2009
- 24,043
- 1,635
- 48
You know, I have never been one to really care about how much money other people make (hell, I don't even care about how much I make, and I should, I don't make much) but what gets me about American capitalism is how CEOs are rewarded even for failure.
Their companies can loose money, they can strip down great corporate institutions just to spike share price but in the long term destroy competitiveness, they can fire workers, even workers necessary for long term growth, they can even wreck the bottom line and they still make out like bandits.
It is a form cannibal capitalism that does not know how to make or create anything anymore, it just manipulates share price and creates financial products so byzantine that even they do not understand them.
Too many American CEOs are flim flam men selling financial snake oil.
Thank you, this shouldn't even be a partisan issues. Democrats and Republicans should be outraged at whats going on. The wealthiest 5% own more than the other 95% of the population. I mean they probably wipe their ass with the average income of families.
And if you want to open up your own small business, good luck. I mean you may have a decent business that gets you maybe a decent living. But get too big and the corporation will offer you a buyout and then if you don't take it, they run you out of business.
So every time I hear republicans say "Well we are here to protect the small business."
This corruption needs to end, soon the gap between the rich and the poor is going to get so ridiculous that a revolution will happen just like it did in Russia.
If it is a non-government owned company - those with ownership stakes make up the salaries of all members. Now those companies that took government bailout funds, that is another matter. Those salaries can be capped so long as that money has not been paid back - no problems with that.
You are aware though that you can take ALL top Wall Street salaries combined and they don't come close to matching what our government wastes every year on needless spending. Billions and billions and billions down the drain each and every year. There is no greater waste of capitalist dollars than the US government.
You want to complain about Wall Street salaries? Have at it. You best take some of that outrage and point it right at your government as well though, because it makes Wall Street look like chump change...
This is true, but how does anyone even begin to correct the situation? The GAO by periodic audits does its job and makes recommendations, many of which are never implemented. They do call attention to the public of the massive waste in various departments but then the public quickly loses interest and moves on (and of course so does Congress). One thing I find totally unacceptable, but I can't find anyone other than David Walker also willing to shout about it is that the Pentagon has never been audited. The GAO gives up because the DOD's books are such a mishmash that it's impossible. Why does the American taxpayer think that is acceptable?