Quote:
Originally Posted by cmac2012
Under Paulsen and Dubbers, that crowd advised the nation that they're supposed to be rich, rich, filthy rich, and if it looks like they're slipping in that category, govt. funds are needed to make things right.
The cart is before the horse and has been for some time. Witness the huge bonuses for mishandling companies.
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I agree that the huge bonuses paid to CEOs who mishandle their companies is absurd, but it is not a place for government action. It is private industry, and the mechanism for correcting it needs to stay with private industry. I would think that some sort of class action suit by the stock holders should be able to overthrow the Board and eliminate these sweet heart agreements. I would expect that there are grounds for civil suit for mishandling their fiduciary responsibilities.
These have not happened, and maybe they can't. But I would like to see the attempt before I cede power to the government over compensation of executives etc.