What has been shown, I believe, in this AIG fiasco is that there has been great collusion by many in corporate upper echelon positions, board of directors and finance committees to pay exorbitant salaries, bonuses and perks to the upper echelon. Remember that money comes from the common share holders coffers. All this negative publicity MAY slow down the rate of abuse within other corporations.
All these congressmen that are so outraged at AIG are the ones who gave themselves a raise 1st of the year! Of course they are in cahoots with the big guys! The big guys contribute to their campaigns. The only way to clean up this mess is have term limits! I am so mad at the hubrus of these Washington fat cats especially Barney Frank. I orderd 1000 bumperstickers (had them made up at local printer) that read CONGRESS-YOUR'E FIRED!! Been giving them away but peolple have donated money so I can print more. I have been so deluged with requests I may have to go into business. People are begginning to get very angry!
David Faber on CNBC just said what I've been saying for years. Board of Directors and finance committees all seem to be scratching each others backs awarding upper management very high salaries, bonuses and perks simply because they are upper echelon personnel. Benefits are being paid for any reason besides performance. These excessive benefits take away from net earnings per share.
Finally, someone says the same thing as I do about the big boys taking care of the big boys. The House committee just said that the exorbitant salaries and bonuses authorized by upper echelon for upper echelon is wrong and immoral.
I am sure if you had the ability you would be one of the "big" boys making the big bucks. You lack the ability and are lowered to whining about it on a msg board. Poor, porr you.