Tuesday, October 21, 2008

Executive Bonuses

Out of our $700,000,000 bailout money for big business, there is 40 billion dollars set aside for bonus money for the executives that brought us to this point.

My question and evidently the unasked question in congress, is WHY? These men brought us to this point in history and have already reaped millions and millions of dollars in compensation and salary for bringing down the economy. What on earth is appropriate compensation?

For me, "appropriate" means they should receive no bonus money and massively reduced salaries for as long as the US government and us taxpayers have ownership. Why should taxpayers get the short end of the stick both coming and going? If that means these people move on, let it be. This discussion on executive compensation is underway in London and across Europe and Congress would be smart to coordinate efforts across borders. The only person in congress questioning the compensation issue is Dennis Kucinich. Why is that? We're not distant observers here any longer. We're now owners, so let's start acting like it.

5 comments:

Judy said...

What you said below about McCain and Cindy is all absolutely true. I saw them try to pin him down on these issues and he would not even answer them. I don't think these wall street executives should get anything. The taxpayers should have been the ones to decide who gets what. It is our money they are passing out.

Margie's Musings said...

I know, Judy. It's terribly aggravating that no one in congress except Dennis Kucinich is trying to do anything about it. We average American citizens are so helpless. All we can do is vote.

Linda said...

I'm with you, no bonuses. AIG has already show how appreciative they are for the bailout money. Heaven help us through these times.

In a minute I'm going to post a web site on my blog that a nonblogging reader left on my blog yesterday about banks. You might find it interesting.

Blue Ridge Blue Collar Girl said...

I think it is just ridiculous that the bailout includes bonuses for the same executives that are partially responsible for this debacle. Like you, Margie, I would like to know WHY. I do hope that others in Congress will join Dennis Kucinich in questioning this.

Margie's Musings said...

I suggest writing letters to the editors of your local newspapers alerting others about this problem and also letting the clipping services of our legislators see how their constituency feels.