Comments on: Golden Parachutes: How the Bankers Went Down

By: els ct

els ct — Wed, 23 Sep 2009 13:36:43 +0000

Unbelievable!!! It makes me mad to think that these people leave with so much money, caring a hoot its impact on financial stability. Make them work for it – pay in installment if you must, over a long period of time. Hey – shouldn’t these be specified in their contract of employment.

By: Tigaba

Tigaba — Thu, 30 Apr 2009 22:54:17 +0000

They have really tried. we call them robbers of the century

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By: abc

abc — Fri, 03 Apr 2009 05:13:36 +0000

Fly me to the moon on a golden parachute.

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By: the baldchemist

the baldchemist — Sun, 29 Mar 2009 13:15:42 +0000

You know,just about everyone who uses the net and claims to be an entrepeneur has desired these sort of paydays. So let’s stop being so bloody hypocritical.
I don’t like the fact that they walked away with fortunes after failure but then again I wasn’t in that position.

The sadness derives from short sellers and hedgefund workers and the fact that they have screwed the pensions of millions of ordinary people who had been misled into letting these fraudsters look after their money.
Lets get real about this. it is impossible to make 10-15% per annum on investments without someone having to pay.
Sorry America but when the dollar ceases to be world currency of choice and everyone unloads a highly inflationary dollar you are in deep deep shit.
The dollar will have to be devalued by at least 30% to bring it back into line.
Just rememeber when you judge these corporate parachutes, how many of you decided to borrow money to buy homes and cars that were impossible to repay and then ask yourselves how much your greed contributed to the awful mess you are in. How thankful you were that they offered the too good to be true loans.
Take a good long hard look at how much your personal debt is… thanks to your own judgement.
Get well soon. The Baldchemist.

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By: Larry Underwood

Larry Underwood — Mon, 23 Mar 2009 00:10:04 +0000

Wow, I was in the wrong line of business for 26 years. I left a company that was making tons of money (at the time), but due to a lack of foresight in planning their compensation plans, paid guys like me way too much money, although the money I earned was commission based; and based strictly on net profit for the company.

My last year on the job (2000), I was raking in close to $4 million, so they decided to “retire” me with what I thought was a nice package…It pales in comparison to what some of these bankers were getting…for losing money.

Still, I’ve got no complaints, although with the recent financial disaster, my retirement is coming to an end, but at least I had time to write an interesting and irreverent book on life in Corporate America (”Life Under the Corporate Microscope”).

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By: bb

bb — Wed, 18 Mar 2009 08:59:22 +0000

Capitalism does not have to be evil…but it is. When the masses of people get to the point where they do not buy into the b.s. American capitalists promote, the house of cards will collapse. More and more, I see people opting to move away from materialism and explore the values held in human relationships and community. If you keep playing a rigged game, and others don’t ever seem to win…they will quit playing the game. I know I have. I will not be a slave to “markets”. I am a creation of an Almighty God and every need I can ever encounter has been supplied before I even came to birth. We enslave ourselves by following low desires…Pride, Greed, Jealousy. Love does not produce these things. Be ye not conformed to this world, but be ye transformed by the renewing of your mind. That is man’s greatest tool of civilization. It is not, nor will it ever be the greed of this world’s wealthy.

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By: RAJEEV TIPS

RAJEEV TIPS — Fri, 13 Mar 2009 16:24:19 +0000

This is robbing companies in broad day light.. wish i too got one of these..:)

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By: stu

stu — Mon, 09 Mar 2009 02:07:01 +0000

>Equality dictates that all persons make a fair income
>commiserate with their education, level of experience, etc.

What a completely arbitrary basis to start an argument from.
Where is it written that the above is what equality dictates?

By: Pam

Pam — Sat, 07 Mar 2009 21:07:24 +0000

Equality dictates that all persons make a fair income commiserate with their education, level of experience, etc. To achieve this in the United States we must first address CEO pay. Their pay is ridiculously high, but they are few in number, so once their pay is redistributed it will only add a few dollars each year to the rest of our incomes. Next we must address the income of federal and state employees. Those of us in the private sector receive Medicare at age 65 and full social security retirement at age 67. The typical government employee receives both their retirement medical benefit and pension at age 52 (15 years earlier than the rest of us). If we increase all government employee retirement dates to age 63 then we could use the savings to reduce the full retirement age of the private sector to age 63. A early and more equal retirement date for all would make for a fairer society.

By: Andy

Andy — Sat, 07 Mar 2009 10:41:07 +0000

I like AJ’s musings only to the extent that carrot and stick policy may not work always. A CEO can tweak with this policy by doing short term good for his company while jeopardising long term prospects. Look at my earlier scenario how CEO A tweaks the system and no body can catch A. This framework of carrot and stick needs to be reworked. And for all those complaining voices,greed created this problem, the same greed will take care to get back things back on track.