Overpaid CEOs

[make_tomorrow]

In the run up to WaMu's pending doom as their foreclosure rate skyrockets (up 60% in Feb), the WaMu board is bending over backwards to revise what it means to be a successful executive, essentially securing bonuses for executives as the company fails. Who will lose? Non-executive employees and shareholders.

It's no secret that CEOs make lots of

Comments

[rabidtimes]

You make me remember a speech by Ralph Nader I heard during his '00 Prez run. He called for expansive consumer protection standards for the banking industry, pointing out that a consumer must either sign the contract the bank's attorneys (and those of the car dealer, the home seller, the credit card company, et alia) or walk away from the product--consumers do not have even the simple right to take a contract to their own attorney, make changes and negotiate the new changes. Take it or leave it. A difficult option when you're considering something as basic as a checking or savings account

Good post!

[make_tomorrow]

You bring up a point that I had in the original post, but it wasn't on-target enough to keep it. Now I can talk about it