okay -- explain this to me - executives LOSE 45 BILLION dollars in CDO's

[Donnachaidh]

A HUGE loss. But instead of FIRING these jerks, they are given RETENTION *awards*? They've basically put the company into a f*cking grave -- but they are given AWARDS to stick around?

WTF?

Do you THINK the average manager at a smaller business would get a monetary AWARD if they lost the vast majority of the cash from that company? They would not ONLY be fired - they would find themselves brought up on CHARGES of FRAUD and EMBEZZLEMENT.

So WTF are we even arguing about CONTRACTS? And WHY isn't the JUSTICE DEPARTMENT up the ass of every single one of these CROOKS right now?

I would include Geithner and Paulson on the DOJ list too.

[kentuck]

1. The Peter Principle...

multiplied 1000 times.

[av8rdave]

2. It happens in corporate America all the time

Boards of Directors are no longer independent overseers to ensure fiscal responsibility. They and the senior execs all belong to the same club.

[msongs]

3. dems/repubs in congress have approved this sort of thing for decades nt

[LeftHander]

4. BushCo and GOP created culture of failure...and rewarded failure.

Bush was basically a failure at most things he did. Many conservatives are personal failures who use the faith, emotions and fears of others to appear successful.

Reward for Failure is Standard Operating Procedure....for these arrogant, greedy power climbers.

[54anickel]

9. We referred to it as being promoted out of harms way. Blame for failure tends to be

externalized from corporate management to either the rank & file or outside market forces. Admitting poor performance within the ranks of management reflects poorly on upper management and the corporation as a whole. It could even cause a ratings adjustment! Failure is covered up by promoting the cause out of harms way or scapegoating if the failure gets exposed.

[OwnedByFerrets]

5. Because the inmates are running the asylum.

[rrneck]

6. In a world

where you can make money if a stock goes up OR down, it's no surprise. We have spent the last half century figuring out how to make money off anything. Disasters are just another revenue stream for these assholes.

I wonder if they have a plan for making money off the mobs running through the Hamptons dragging them out of their palaces and stringing them up from their manicured trees?

[Sal Minella]

7. I'm going to just hold the visual on that for a few moments, if you don't mind........nt

[leftstreet]

8. A pleasant fantasy

:thumbsup:

[leftofthedial]

10. Bonuses were part of my compensation for 20-plus years.

If the company did poorly in a given quarter or year, we received much smaller or no bonuses.

The bankers and insurance execs are thieves.

[TahitiNut]

11. They continue to be SUCCESSFUL ... as the money flows IN and lines their pockets.

How is what they're doing NOT successful? They engaged in regulatory arbitrage - finding the cracks and chasms in the national regulatory environments and designed a system to profit with diminishing risk to themselves, making a corporation "too big to fail" in a game of global economic 'chicken.'

Where they needed regulation changes to make their game more successful, they bought politicans like Phil and Wendy Gramm ... in the political "free market." Global corporate capitalism reigns supreme - above even governments! Far above.