Posted by: darmonation | February 4, 2009

Let there be ACTION!

So with all the hullabaloo surrounding the nominations of a bunch of Tax frauds, people seem to be distracted by the fact that Obama is not wasting any time to act on his promises. Today he proposed a salary cap of $500,000/year  for CEOs and other Senior Executives at companies who are currently receiving government funding to stay afloat. Normally, this type of government involvement in corporate America would really not sit well with me, as I’m a strict believer that government and capitalism have no business in bed together, but when you’ve got CEOs crawling to Washington hat-in-hand begging for taxpayer dollars to bailout the companies of which they are in charge, only to find out that they use millions upon millions in bonuses for executives who are responsible for the dire situation to begin with, that’s where I draw the line!

Take former Merrill Lynch CEO John Thain, who topped the list of highest paid CEOs in America at $83 Million in compensation. The guy spent more than $1 Million dollars to “redecorate his office” when he took over as CEO of the struggling Wall Street giant known as the “Thundering Herd,” which included a $1,000 TRASH BARREL! Are you kidding me? Some months later, Merrill agrees to be purchased by Bank of America for $50 Billion, and in his final days as CEO, Thain hands out massive bonuses to his top lieutenants. Typical of these greedy bastards – when the ship is sinking, take all the life preservers for yourselves and let the rest fend for themselves. The REAL winner in this situation is Thain’s DRIVER, who was paid $230,000 for a year’s worth of work! Who is he, Jason Statham? I’ll drive his ass around for half that pricetag. Hell, i’d drive his ass around for 1/3 of that! Actually, I take that back – I wouldn’t want to work for a greedy SOB like that.

All in all, my underlying conservative viewpoints are somewhat set aside due to this horrendous financial recession we’re in, and I’m glad to see that Obama is taking steps to put a stop to the corporate greed that got us here in the first place. When parents of a family of 5 lose their jobs and are so stressed out about it that they take the lives of themselves and their families, and then you’ve got the titans of corporate America spending the same amount of money on a garbage can that would feed the aforementioned family for 3 months, there’s something wrong there. You want my tax dollars to save your company? that’s fine, but you better be taking as big a hit as the rest of us, Mr. CEO.

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Responses

  1. Well put!


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