Nowhere does the OP ask about the percentage of Financial execs. I went after the group I felt was being addressed as the majority of the population is angry about banker pay not executives across the board (Although some on the left try and make it ALL execs). The OP asked about exorbitant executive pay. I addressed that. You and I apparently agree. That's great. I think there are PLENTY of executives that are well paid and deserve it. I don't think the government should intervene. So what are you arguing with me about? Why go after me in the first place if you don't disagree. I never said all execs are overpaid. I made a tongue in cheek reference in my first post and that's it. I also went on to clarify it was tongue in cheek. I for one see families every day that have been destroyed by the economic collapse. I'm absolutely livid about it and I blame the financial industry (not all of them but the crooks like Goldman Sachs in particular) I apologize if my rage boiled over on you as I assume you are not in that group. Am I right in assuming you think there is a huge problem with exec payment on firms that have been bailed out? I by the way don't like what happened with GM one bit. Not the governments job to step in at all. GMAC (financial wing of GM) destroyed that company by getting suckered in by the likes of Goldman. I'm terribly sad, and terribly angry that this country's economy has been sacked by the thieves in some of these financial firms. Some firms like CIT I actually respect as they lend to real businesses and aren't just speculative ponzi types like Goldman. The ones who own the FED (BofA etc.) have stolen our money once with hard to understand mortgages, and then again with bailouts and finally a third time with future inflation that they are helping to foster even now. I think we are in agreement. I certainly hope so. I do NOT think all executives are overpaid or underpaid. They all vary individually so it is silly to talk about them broadly, because there is a vast difference between a company that makes nuclear warheads and one that makes solar panels. Silly to compare them. Better to focus in on things you want to back up (Disney) for the positive, or things you have a problem with (the former investment banks ALL of which took money from TARP, TALF or the overnight lending window so I CAN speak about the lot of them).
Fair enough. Your previous posts came off like this: OP: Are NBA players overpaid? Your Response: Yes. Eddie Curry makes more than he is worth. See, I can post articles showing that he makes a lot of money and doesn't produce. My posts were simply to challenge whether the example you were using was a relatively large portion of the population or not.
I work with folks who have had their lives destroyed by the financial meltdown. When you see hopeless looks on childrens faces, grown men crying, women trying to maintain their dignity and young people who look shell shocked it gets to you after awhile. I'm a big believer in Adam Smith's capitalism, the free market and small business that grow to become big corporations. I'm strongly against loose monetary policy, predatory lending, fractional reserve banking and the de-industrialization of America. I think you and I probably agree on more then you think. The big difference I think is that I am exposed to the have nots so often that it has become a ball of rage in me. Perhaps you think it's the invisible hand or market forces that have caused this collapse. I firmly believe it is the Federal Reserve and other central banks along with their bank shareholders (only banks can own FED stock) who massively overleveraged both themselves and consumers with confusing or outright fraudulent loans. When their positions started to crumble, rather then embrace the natural rythym of the market they ran screaming for a bailout. Since they own the FED they of course granted their own bailouts with taxpayer money along with the help of their cronies in Congress. Many congressmen and women of both parties aided and abetted this massive transfer of wealth. Yes both parties were all too eager to help this process along: from the slashing of interest rates after the dotcom bubble, the repeal of Glass-Steagall, to the bailouts. When the dust settles China is going to own this country and the parasites who caused this mess (Goldman Sachs executives and Congress people of both parties) will just up and move somewhere else. Their accounts are offshore and they hold no loyalty to America. The whole thing is simultaneously depressing and enraging. Pardon the misplaced anger.
FWIW, Bill Gates' salary as CEO of Microsoft barely topped $1M after years of earning less. All the while he was the richest guy on the planet and could literally buy anything made by Man (like his own space shuttle). The stock is where the wealth is. I opposed the bailouts and certainly the govt. owning any bit of any company. But since that's been done, I have not a single problem with the govt. telling the companies that received bailout money what their pay structure can be.
Did you boycott the Blazers when Raef LaFrentz was making eight figures? The bottom line is that unless the Federal Government has a controlling interest in a corporation, and can therefore have a majority of the board seats, they have zero right to dictate salaries. They can choose not to make the investment in the company, but if they do, they have to follow the rules like everyone else. Just because it's an entity supposedly representing the public doesn't give it any special rights.
Boycott the Blazers!!! I'd rather bang my penis with a hammer! I agree with your second point. In fact I said as much on the previous page:
