What is Digg?139 Comments
- belvelly, on 03/31/2008, -3/+52These guys INVENTED the whole sub-prime disaster. They tricked Congress into defanging Fannie Mae and Freddie Mac. The world financial markets didn't realize that the USA mortgages were no longer being "policed" and paid way to much for the garbage sub-prime loans. These guys pocketed billions over several years. The world finance markets no longer trust the USA. I hope folks will remember deregulation is like taking police off the streets. No police and the crooks come out to ruin regular folks lives.
- wonderchemist, on 03/31/2008, -6/+47Do you know how hard it is to run a company the size of Countrywide into the ground? Give the job to 99,999 out of 100,000 people with a MBA and they wouldn't be able to do it no matter how hard they tried! It was rare talent that Countrywide was paying for!
- inactive, on 03/31/2008, -2/+32The same problem pervades the entire financial industry. For example: Bear Stearns paid out over a billion dollars in executive bonuses two months ago.
- Onetrack, on 03/31/2008, -2/+27Steal a donut, go to jail....
walk away from a destroyed economy with a golden handshake - win.
firing squad for them. - contemplative, on 03/31/2008, -0/+16I don't think these guys worked hard so much as they somehow make people afraid of what will happen if they don't get these payoffs.
- Cannon49, on 03/31/2008, -4/+19Deregulation, capitalism's partner in crime.
- coachmcguirk, on 03/31/2008, -3/+17And the rich get.... well... you know..
- bonlebon, on 03/31/2008, -1/+14I understand that CEOs got lots of reponsabilities, but rewarding them for doing ***** is outrageous. Look at airlines, they cut on food for PAYING costumers but dump crazy amounts of money onto their CEOs. Think most of them have way too much "JOB SECURITY", if they were handed more pink slips like Fiorina, thing would be much better.
- ColonelJessup, on 03/31/2008, -0/+12Mozilo is such a piece of garbage, I distinctly remember seing him being interviewed before the whole mortgage meltdown was exposed, and he sat there in his thousand dollar suit, and that disgusting tan, with that slimy, sleazy, grin on his face saying: "Oh, no! Nothing to worry about! Countrywide remains as strong as ever! The shareholders have nothing to worry about!"
These people are real pieces of work. Really. If you feel like reading something that will make your blood boil, read "Free Lunch" by David Cay Johnston. Some really revealing stuff in that book about how pieces of ***** like Mozilo get to fleece the American taxpayer. - GRANDPAMUNSTER, on 06/11/2009, -0/+11Twenty years ago ceo's made about fifty times more than the average worker, today they make about two hundred times more. Do they really need a house with 8 bathrooms and a ten car garage.
- laserblazer, on 03/31/2008, -1/+12Nepotism and cronyism are by far the greater part of that.
- laserblazer, on 03/31/2008, -4/+14Pay should be linked to performance, not position.
- TheZorch, on 03/31/2008, -2/+11Maybe those outrageously high exec salaries are the reason the company is so far into the red. Its amazing how stupid some companies have become lately.
- orlyfactor, on 03/31/2008, -1/+9dude looks like a giant oompa loompa.
- ren1999, on 03/31/2008, -0/+8But he is only one example of the problem. Every executive these days is taking all the money and the people that actually do the work are getting just above minimum wage.
- marx2k, on 03/31/2008, -5/+13BREAKING NEWS: The top of the pyramid gets all the money. The story at 11.
- omegared, on 03/31/2008, -1/+8Don't worry nothing will happen to them. They have money for lawyers and political connections. Maybe even they will get a job in government and than go back to the private sector, as is the case usually. Government for the rich in its' finest form and business as usual.
To bad society blames the poor and the general public, while at the same time rewarding the elites. Yay for American democracy and American values. - radu79, on 03/31/2008, -1/+8Well, so long as they are not bailed out by the Fed, I don't care. If Bank of America thinks he is worth the money, who am I to disagree? Of course, if I were a stock holder, I might be a little pissed about it.
- zephyr42, on 03/31/2008, -1/+8This is crazy....
Who the ***** idea was it to turn surreality into actuality?? - Vector713, on 03/31/2008, -6/+13Whoa buddy....
- Christine283, on 03/31/2008, -3/+10Wait...CEO's of companies like these actually do work?
- PacketScan, on 03/31/2008, -0/+7"Between 2002 and the close of 2006, the three executives were paid $460 million, according to a report issued by the House committee in March."
That's what i call a Fleecing!! - Look4Truth, on 03/31/2008, -0/+6Gee, I wonder who is going to pick up the tab for this whole mess.
- hollyminkowski, on 03/31/2008, -0/+6Well, as long as it's money well spent. /sarcasm
- zephyr42, on 03/31/2008, -1/+7We should instate the new general rule: "You're stupid until proven intelligent".
- NelsonR, on 03/31/2008, -0/+6Yes, we average Americans are of a different pay grade and in our elite's minds, "trailer trash". They are the upper crust that give you jobs so obey them and toe the line. Conversely if you don't they will have the government bail them out again at your expense that you should be getting used to. Do not tread on our thoroughbred elitist and just maybe they will throw you a crumb while they bask in government and corporate kickbacks. Got to love Bankers and Wall street, the salt of the earth, (upper crust citizenry) that God has chosen to lead this great nation with supreme morality and ethics they are truly endowed with. Now I must go puke, that last sentence got to me.
- abledragon, on 03/31/2008, -0/+5Fiorina's pink slip was worth $21M - I'd die for a pink slip like that..!
- pintomp3, on 03/31/2008, -0/+5not only that, a lot of the workers took pay cuts in order to help the company stay in business only to find out the huge bonuses the execs got.
- divrekku, on 03/31/2008, -0/+5I agree. Let the market's will dictate what happens, not the SEC. To both Countrywide, and to BoA.
- StopTheLie, on 03/31/2008, -2/+7http://MeetTheSystem.ORG ...see "The Bailout" and you'll understand that these guys really did "earn" their money. (Good loans / bad loans - makes no difference: Joe Public will pay for them one way or the other.)
- inactive, on 03/31/2008, -0/+5Do you have a mirror? Your statement indicates you already know. US!
- blackinthmiddle, on 03/31/2008, -0/+5Well the point is to consistently get paid based on performance, especially on that level. I have no problem with a person getting showered with millions if they actually bring value to a company. Based on their performance over the last couple of years, however, do you really think they're worth what they got?
- jgzman, on 03/31/2008, -0/+5I note that you "maintained stability through several disasters" and you "built a team that could live on without me" and you observed that "team I left is doing a decent job."
Good job! You did well. You are well entitled to your money. These guys didn't do a good job. They ***** everything up. No soup for them. (At least not if there was any justice) - whereiseljefe, on 03/31/2008, -1/+5There are some things that do well deregulated. This is not one of them.
- JustinDevine, on 03/31/2008, -2/+6I will probably get dugg down for this, but apparently these guys have lost most of there personal wealth as they were heavily invested in their own companies through stocks etc. I am sure they are not on welfare, but I believe they have lost hundreds of millions too. They still screwed up bad, but they are loosing big too. I am sure many of these guys had their personal wealth evaporated as well.
- bjornski, on 03/31/2008, -1/+5I already judge people based on that rule.
It works pretty efficiently, too. - crapmatic, on 03/31/2008, -1/+5Any reason he can't earn $900,000 instead of $9 million? Mark my words, you can buy a lot of Captain Crunch with $900,000.
- mal1964, on 03/31/2008, -0/+4I am from the 16th century.
- Lewie, on 03/31/2008, -0/+4Two chicks at the same time.
- inactive, on 03/31/2008, -1/+5i wish i can suck at my job and get paid like that...USA USA USA!
- Dumbledorito, on 03/31/2008, -2/+6Yet the majority of CEOs didn't found or build their companies; they were brought in as little more than caretakers.
And they aren't held to the same standards as the rest of us. If I was to get fired, I doubt I'd get enough cash to purhase a car, let alone a small country, especially if I'd caused the near-collapse of the company itself. - tbechtx, on 03/31/2008, -2/+6CROOKS!
- StupidLiberal, on 03/31/2008, -0/+4How this surprises anyone is amazing to me.
- cathl, on 03/31/2008, -0/+3So basically a monkey could do your job? Having a four year degree is no justification for earning money. Performance should be the ultimate criteria for compensation. It boggles my mind that a lot of people would mearly accept your explaination for why you get paid what you get paid.
Taking advantage of the retarded does not mean you are smart. - callampa, on 03/31/2008, -0/+3business as usual
- xadhominemx, on 03/31/2008, -0/+3They can rent...
- blackinthmiddle, on 03/31/2008, -1/+4For the most part I agree with you. However, with the airline industry, things are tough. Every time someone decides to try and blow up a plane, more regulations are heaped upon airlines, which means more checking of bags, more delays and less profit. There are way too many variables that go into the success of an airline. The first thing I learned when it came to managing my stocks was to *never* invest in the airline industry because it's simply too difficult for them to make a consistent profit.
- Lewie, on 03/31/2008, -0/+3Agreed. I have no problem with people making more based on more responsibilities, risks and higher education, but there is a limit to the amount one person can be worth, especially relative to one's workers.
- jgzman, on 03/31/2008, -0/+3That's a ***** argument and you know it. In order to start an airline, you need to have a great deal of money to start with. Generally, people who have money don't mind being immoral, as long as they get more.
- plizard, on 03/31/2008, -0/+3let cerberus buy them out, then you can see a company fail. look what they did to aegis mortgage
-
Show 51 - 100 of 137 discussions
Browsing Digg on your phone just got easier with our enhancements to the 
© Digg Inc. 2009
— Content created and posted by Digg users is