Comments on: Executive Pay Cuts at Troubled Companies: Paying Back The Taxpayer http://thesmarterwallet.com/2009/executive-pay-cuts-troubled-companies/ Money Tips, Consumer News and Product Reviews To Improve Your Finances Thu, 29 Jul 2010 01:29:47 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Don Draper http://thesmarterwallet.com/2009/executive-pay-cuts-troubled-companies/#comment-11290 Don Draper Tue, 27 Oct 2009 23:31:59 +0000 http://thesmarterwallet.com/?p=9082#comment-11290 What we did with the banking industry is create the "Moral Hazard" that everyone fears so much. Since there is no downside for their risky actions, expect the banks to take even more risks in the future knowing that the government will bail them out because the government views them as too big to let fail. What we did with the banking industry is create the “Moral Hazard” that everyone fears so much. Since there is no downside for their risky actions, expect the banks to take even more risks in the future knowing that the government will bail them out because the government views them as too big to let fail.

]]> By: The Smarter Wallet http://thesmarterwallet.com/2009/executive-pay-cuts-troubled-companies/#comment-11237 The Smarter Wallet Mon, 26 Oct 2009 01:43:23 +0000 http://thesmarterwallet.com/?p=9082#comment-11237 The arrogance makes me sick and let me tell you, I experience major Schadenfreude when I hear about stories like this. Mind you, I have close relatives in the banking industry who argue with me relentlessly about this matter, taking the defense of the "poor financial executives". Sorry, my philosophy is and always will be: if you screw up, then you need to pay for it, so this is just an example of people getting their just desserts. The arrogance makes me sick and let me tell you, I experience major Schadenfreude when I hear about stories like this. Mind you, I have close relatives in the banking industry who argue with me relentlessly about this matter, taking the defense of the “poor financial executives”. Sorry, my philosophy is and always will be: if you screw up, then you need to pay for it, so this is just an example of people getting their just desserts.

]]> By: Don Draper http://thesmarterwallet.com/2009/executive-pay-cuts-troubled-companies/#comment-11236 Don Draper Mon, 26 Oct 2009 01:36:58 +0000 http://thesmarterwallet.com/?p=9082#comment-11236 To understand these banking executives perspective you have to realize the full extent of their arrogance. You see when they are in charge they believe their are two sets of rules - one for them and another for you and me, and unfortunately, from what I have seen in my life, true. To make my case let me ask you a simple questions: If you lose your job do you get a multi-million bonus on the way out? We all know the answer to that. So for banking executives to be subjected to the same rules that you and I live by is a rude awaking which they don't consider fair. In their fairy tale world of money and power it probably doesn't seem fair, but the truth is that it's probably the fairest thing that has happened to them in a very long time. It's been so long since they have seen fair they don't know what it looks like even when it is slapping them in the face. These banking executives continue to rip off both the stock holders (i.e. the owners) and employees with their greed, egos and excessive spending. The public, and myself include, is not going to feel sorry for these guys. What people should be asking is why is no one going to jail? Bernie M. is small potatoes relative to the scam relative to what the bankers have accomplished. To understand these banking executives perspective you have to realize the full extent of their arrogance. You see when they are in charge they believe their are two sets of rules – one for them and another for you and me, and unfortunately, from what I have seen in my life, true.

To make my case let me ask you a simple questions: If you lose your job do you get a multi-million bonus on the way out? We all know the answer to that.

So for banking executives to be subjected to the same rules that you and I live by is a rude awaking which they don’t consider fair.

In their fairy tale world of money and power it probably doesn’t seem fair, but the truth is that it’s probably the fairest thing that has happened to them in a very long time. It’s been so long since they have seen fair they don’t know what it looks like even when it is slapping them in the face.

These banking executives continue to rip off both the stock holders (i.e. the owners) and employees with their greed, egos and excessive spending.

The public, and myself include, is not going to feel sorry for these guys. What people should be asking is why is no one going to jail? Bernie M. is small potatoes relative to the scam relative to what the bankers have accomplished.

]]> By: Teri http://thesmarterwallet.com/2009/executive-pay-cuts-troubled-companies/#comment-11211 Teri Sat, 24 Oct 2009 15:17:42 +0000 http://thesmarterwallet.com/?p=9082#comment-11211 It's more like a no win situation. The "so called" bail out -was a joke to begin wth. There were no regulations or guide lines or penalties so why did'nt every american get a free hand out? It's a mess thats going to keep on going and we're not going to like the end result for sure. It’s more like a no win situation. The “so called” bail out -was a joke to begin wth. There were no regulations or guide lines or penalties so why did’nt every american get a free hand out? It’s a mess thats going to keep on going and we’re not going to like the end result for sure.

]]> By: Bobby http://thesmarterwallet.com/2009/executive-pay-cuts-troubled-companies/#comment-11186 Bobby Fri, 23 Oct 2009 16:47:34 +0000 http://thesmarterwallet.com/?p=9082#comment-11186 It's about time. Executive compensation throughout this whole mess has been a crime. Score one for Main Street. It’s about time. Executive compensation throughout this whole mess has been a crime. Score one for Main Street.

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