Obama's redistribution of wealth

Two things to note here. Executives and the directors are supposed to represent the best interests of their stockholders. Politicians are supposed to represent the best interests of their constituents. That said, executives and directors who run the damn company into the ground are not representing their stockholders' best interests and should be sued into oblivion for so doing. On the other hand, if the stockholders actually approved such outrageous executive compensation, then they are fools. As for the baiolouts for the banking industry and the auto industry, I know not whether there were any strings attached. There should have been. And rather than just throwing large amounts of money at the problem all at once, there should have been a process by which each individual company that feels in need of a bailout should have to go before a review board and negotiate a deal each time, with terms and conditions to be determined at that time.

 

You know what Ted? In a strange way, I am kind of glad the corporate/CEO scandals have come to light. People finally realize the truth about corporate welfare, and even worse, CEOs that are rewarded with taxpayers money after screwing up a company. Years ago when you and I brought up these subjects, we were quickly denounced as heretics. Strange.


Abner