I’m not coming down on the side of all corporate execs here. Are there some lavish spenders and some fraudulent execs with big corporate? Sure. Are there some massive layoffs happening while execs pull down insane amounts of cash via golden parachutes and stock options? Sure. Are there are a lot of corporate execs who show up everyday and work for their employees and shareholders best interests? Sure. Are there corporate execs that earn a fair compensation for the amount of profit and bottom line savings they create? Sure.
So now that we’re back in balance here, the point of my post is not that greed doesn’t play a major role in Corporate America or that execs have no blame in this matter. My sole point is that politicians lecturing and pontificating about corporate greed is the greatest example in history of the pot calling the kettle black. If you watched the congressman and senators cross examining and scolding the CEO of Lehman brothers, and you cheered them on; then you can feel free to take the blinders off.
This guy should have worked for AIG, Bear Sterns/JP Morgan or the other banks getting the bailout dollars. I’m assuming the next video will be of Fannie Mae and Freddie Mac execs getting interrogated. Wouldn’t logic say they are next on the hot seat? I have a sneaky feeling we won’t see them. Waxman of all people is handling this interrogation.
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