“There is probably much blame to go around. For years, while I was still a part of corporate America I was incensed at the salaries, bonuses, perks and power being given to our CEO and to all CEOs.”
CEOs were paid well for raising stock prices and profits. The left has been successful at demonizing business leaders.
The collapse of the financial sector due to sub prime loans is the root cause. The story is getting out. Needs to be repeated over and over.
CEOs were paid well because their buddies were on the corporate boards. What you have now is a corporate oligarchy that basically played right into the bubble - they made their millions, and now taxpayers are left holding the tab.
Please do not beleive the MSM telling you that the sub prime is the reason...it is just one little reason amongst the greed of corporations.
The untold story was the massive run on our financial system on 9/11/08.
http://www.freerepublic.com/perl/post?id=2267128%2C6
Many CEOs were paid well even when they made bad decisions that ran the company into the ground.
I most certainly I don't want government stepping in to control CEO compensation. I do want Boards of Directors (with pressure from/backing of stockholders) to negotiate contracts with CEOs that hold them accountable for poor performance. (And yes, I know there is competition for good executives, but one who drives a company into the ground is not a good executive.)