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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Lizzie Tudor who wrote (139003)9/28/2008 5:11:18 PM
From: geode00   of 173976
 
I think you are missing my point. I'm not outraged by the compensation, I'm outraged by the compensation BECAUSE this industry is extorting the US taxpayer to bail it out.

If Google and McKinsey are profitable then who cares? Lehman just went bankrupt.

I believe this entire fiasco is based upon fraud. I believe that Lehman management WAS LYING for quite some time and I believe that other investment bank managers were and still are lying.

Houses cost so much because pay is high. Welcome to the bubble.

There is NO correlation between CEO pay and increasing the value of a corporation. There is a huge correlation between interlocking boards with members who pay each other huge compensation as a quid pro quo.

This is what amounts to the Banana Republic of American Capitalism. It isn't true capitalism (which Google arguably is but may not remain as) but corruption. Just because someone gets paid something doesn't say anything about how much that individual is actually worth.

Yes, I believe there are plenty of people who would be willing to take on WAMU at a reasonable salary and compensation. I believe there are plenty of people who would become traders, bankers, CEOs, etc. at reasonable pay.

----Do you believe this?

"Earlier Wednesday, Lehman reported a net loss of $3.9 billion in the third quarter ended Aug. 31, after taking a gross mark-to-market loss of $7.8 billion."

Those people didn't earn anything. The company lost money.

Oddly enough, Lehman appears to have had some $26 billion in assets so they weren't technically bankrupt.

Then again, if those 'assets' are illiquid then who knows.
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