You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #25: i disagree about the investment bank comment, though only because of how things are structured [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
unblock Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-28-09 03:50 PM
Response to Reply #4
25. i disagree about the investment bank comment, though only because of how things are structured
i agree with your general take on things. the proposed fixed are only necessary because things are screwed up in the first place.

an investment banker, a ceo or cfo of a big corporation can merit millions or more per year, because they make decisions and accomplish things that affect many, many people and billions of dollars. the difference between good decisions and bad decisions means far more than the few millions earned by the person make those calls.

what's screwed up in that model is that that kind of crazy leverage is entrusted to one or two people. we just take for granted the idea that there should be ONE person in charge of an entire multinational megacorporation. well, if you want your power and control that concentrated, it makes sense to compensate that person with a giant paycheck. but a far more sensible model would be to distribute your power and control, introducing checks and balances and controls. you could drastically reduce the risk and severity of any fraud or of screwups or an external surprise sinking the whole company. the investment banker earns his keep by advising well one ceo and one cfo, but only because there's such crazy concentration of power and wealth around. spread things around more prudently and the investment banker wouldn't have such an opportunity to earn crazy money.

but you'd have to give up that ability for one person to move mountains and negotiate a merger or sale of the entire enterprise on the golf course and the way things are set up, there's too much money to be made doing that sort of thing.

Printer Friendly | Permalink |  | Top
  -Don't tell me that the government shouldn't redistribute rich people's wealth... MrScorpio  Sep-28-09 02:32 PM   #0 
  - I believe it was Gore Vidal who said "If the poor knew how much  OffWithTheirHeads   Sep-28-09 02:36 PM   #1 
  - I've been calling for a little of THIS:  kestrel91316   Sep-28-09 02:46 PM   #3 
  - (first it says error: your post didn't work, then there it is twice)  FiveGoodMen   Sep-29-09 02:49 PM   #39 
  - +75,000,000  FiveGoodMen   Sep-29-09 02:49 PM   #40 
  - +2  Echo In Light   Sep-28-09 03:48 PM   #23 
  - 100% Agree. I'm ready to go Mugabe on some of these folks...  Taverner   Sep-28-09 02:40 PM   #2 
  - Are you actually...  Jeramy   Sep-28-09 03:09 PM   #5 
     - bullshit  unpossibles   Sep-28-09 03:11 PM   #7 
     - No - just taking property from those who aren't using correctly  Taverner   Sep-28-09 03:13 PM   #8 
     - America doesn't work like that, fella  MrScorpio   Sep-28-09 03:20 PM   #12 
     - Exactly... and if any of that crap really worked...  JuniperLea   Sep-28-09 03:24 PM   #17 
     - Bullshit...  JuniperLea   Sep-28-09 03:22 PM   #14 
     - The market is self correcting? What a load of bullshit.  Rex   Sep-28-09 03:22 PM   #15 
     - 2008 is the correction  DireStrike   Sep-28-09 03:48 PM   #24 
     - Well since you put it like that, I guess I am wrong.  Rex   Sep-28-09 04:20 PM   #36 
     - Um..  Jeramy   Sep-28-09 03:55 PM   #29 
        - Dude, you can't tell the diff between a self correction and direct intervention  MrScorpio   Sep-28-09 04:01 PM   #30 
        - Wrong.  Rex   Sep-28-09 04:19 PM   #33 
     - That is not true  DireStrike   Sep-28-09 03:45 PM   #21 
     - are you serious?  handmade34   Sep-28-09 04:03 PM   #31 
  - I don't think the government should redistribute income through income taxes  HamdenRice   Sep-28-09 02:51 PM   #4 
  - i disagree about the investment bank comment, though only because of how things are structured  unblock   Sep-28-09 03:50 PM   #25 
  - Sorry  Jeramy   Sep-28-09 03:54 PM   #26 
  - Thats an excellent point.  DireStrike   Sep-28-09 03:55 PM   #28 
  - devil's advocate...  handmade34   Sep-28-09 04:24 PM   #37 
  - yeah, I have a hard time feeling too sorry for someone who is rich  unpossibles   Sep-28-09 03:09 PM   #6 
  - Let me tell you about what I took from my 7 1/2 years of working at the Pentagon  MrScorpio   Sep-28-09 03:15 PM   #9 
  - They do get to keep 50 cents on the dollar. Taxes don't everything.  mediaman007   Sep-28-09 03:31 PM   #18 
  - right!  unpossibles   Sep-28-09 03:54 PM   #27 
  - it is amazing  handmade34   Sep-28-09 04:20 PM   #34 
  - K&R  JVS   Sep-28-09 03:19 PM   #10 
  - i'll tell you  paulsby   Sep-28-09 03:20 PM   #11 
  - Sorry, but what does Joe Louis being your uncle have to do with the stated topic?  Beer on a stick   Sep-28-09 03:21 PM   #13 
  - A comparison of marginal tax rates  MrScorpio   Sep-28-09 03:35 PM   #19 
     - I love your stories!!  handmade34   Sep-28-09 04:13 PM   #32 
  - That table doesn't tell us much, exept what Rockefellers paid.  One_Life_To_Give   Sep-28-09 03:23 PM   #16 
  - My great uncle's purses put him well into the brackets for the 40s and 50s  MrScorpio   Sep-28-09 03:42 PM   #20 
  - K&R  Deja Q   Sep-28-09 03:46 PM   #22 
  - My Dad always says  Dyedinthewoolliberal   Sep-28-09 04:20 PM   #35 
  - Casual Cruelty Is A Foreign Concept To Americans  WVRICK13   Sep-28-09 05:03 PM   #38 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC