95% of lenders are paying their mortgages. So they should be forced fork over their hard earned money to bail out those others?
I guess we could debate this for days.
One of the sad aspects of this is, that the Democrats are responsible for this. Were there any Republicans involved, they would have been hauled immediately before a Congressional tribunal for interrogation.
The other is the overkill on CEO's salaries.
Are they too high? Ask those corporate shareholders that vote.
One thing is certain. CEO salaries did not cause this, and are but a drop in the proverbial bucket, as far as this collapse goes. CEO's salaries is nothing more than a smokescreen.
JMHO
One thing I would like to see is an SEC rule that does not allow BODs to take “proxy” votes from non-voters.
Many companies will send out proxy notices and include terms which say that if the proxy is not returned, the BOD gets to use that vote.
If corporations were responsible to their shareholders rather than manipulated by BODs who are getting kickbacks on their votes, problems like over-compensation of CEOs, etc would go away.
Also, we would not see corporate sponsorship of political issues like gay marriage that we currently do. PG&E is putting a ton of money into California’s Prop 8 (opposing the protection of marriage) with a total disregard for their shareholders’ opinion on the issue.
Most shareholders would likely not support spending money on that initiative one way or the other.