Banks CEOs Face Grilling over Compensation

Banks CEOs Face Grilling over Compensation

www.cnbc.com

The heads of three companies implicated in the mortgage crisis have been asked to explain how they collectively received hundreds of millions of dollars in compensation while their companies were losing money.

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I know this is a dog and pony show and nothing will ever get done but Im at least glad that congress recognizes it. When the CEO wages have grown 38% in one year to an average pay for the top 500 companies of 50 million a year. This data was from 2006. In 1980 the average CEO got 40x the pay than the average worker. He now gets 600x. 10% of the corporate profits go to the top executives. Another fine examples of why things are stacked against the little guy. Tack on to that a poor monetary policy that has inflated a lot of people to poverty this is a real mess.

www.cnbc.com
(visit the link for the full news article)

[edit on 9-3-2008 by mybigunit]

Distribution of wealth has been, and always will be a major problem in any society that revolves around the collecting and spending of any monetary medium. The only way to beat this is to surpass it; to get to a point technologically that we no longer need it to survive.

TheBorg