Politics
Out of context: Reply #5121
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- tommyo0
^^ I'm afraid there is really nothing the gov can do about the executive payouts. It's sickening to hear what some of these jackholes are making for driving their companies down the tubes but a contract is a contract and should be honored, imo. It's not right in the least bit what the boards of these companies have approved. But yeah, this whole bailout thing was such bullshit.
My biggest problems with this thing is that:
1. It doesn't fix the problem, it just allows the same guys to keep making the same mistakes. They don't have the incentive to gain new perspective on their industry which would improve their offerings and strengthen their position in the future. If they had been able to go bankrupt and sell the company then new owners step in naturally take stock of the company and try and improve it.
2. Now our Government has not simply the desire to see these bailed out companies succeed, they actually have a duty to make sure they succeed. This just makes my skin crawl. So basically, Flawed Company A is government favored over Stable Company B. Imagine the public uproar if a bailed out company fails, losing the billlllions of tax payer dollars with it. Congressional heads will be rolling. Their response will either be to give it more free money, or let it fail. It's a never ending rabbit hole. It's like if you're being washed down a river and you can either choose to hang onto a strong swimmer or a fat guy ....