"America's Bailout Barons"

Hi ATS,

I found this article from: www.ips-dc.org... It looks as though the new hot money making career is being one of the "baron's" made from bailout funds; which are funded off of the backs, and blood of US Americans. Enjoy!

Key Findings
The Bounty for Bailout Barons: From 2006 through 2008, the top five executives at the 20 banks that have accepted the most federal bailout dollars since the meltdown averaged $32 million each in personal compensation. One hundred average U.S. workers would have to labor over 1,000 years to make as much as these 100 executives made in three.
Layoff Leaders: Since January 1, 2008, the top 20 financial industry recipients of bailout aid have together laid off more than 160,000 employees. In 2008, the 20 CEOs at these firms each averaged $13.8 million, for a collective total of over a quarter-billion dollars in compensation.
Wall Street Pay Dwarfs Regulator Pay: These 20 CEOs averaged 85 times more pay than the regulators who direct the Securities and Exchange Commission and the Federal Deposit Insurance Corporation. These two agencies, many analysts agree, have largely lacked the experienced and committed staff they need to protect average Americans from financial industry recklessness. "The lure of lucrative private sector jobs doesn't just siphon off talent from public service," says Sam Pizzigati, an IPS Associate Fellow and report co-author. "It also breeds corrosive and ever-present conflicts of interest: Why 'get tough,' as a regulator, on a firm that could be your future employer?"
Federal Response Falls Short: An eight-page table at the end of America's Bailout Barons tracks the fitful progress in Washington on various executive pay reforms. Several of these have strong potential to deflate the executive pay bubble. The federal government, for instance, could give tax breaks and federal contracting preferences to companies that maintain a reasonable pay gap between their top executives and workers. Rep. Jan Schakowsky (D-Ill.), in her proposed Patriot Corporations Act (H.R. 1874), would extend these tax breaks and procurement bidding preferences only to those companies that compensate their executive at no more than 100 times the income of their lowest-paid workers.
A generation ago, typical big-time corporate CEOs seldom made more than 30 or 40 times what their workers took home. In 2008, the IPS report shows, top executives averaged 319 times more than average U.S. worker pay.

Wake Up, Stand Up,

Sancho


ps. see here.
Also see this related thread.
www.abovetopsecret.com...

I like this quote from the article:

"Public officials in Congress and the White House hold the pin that could pop the executive pay bubble," says IPS Senior Scholar Chuck Collins. "They have so far failed to use it."

The reason they haven't "popped the bubble" is because now, more often than not, the "public officials" are also the executive. Why would they pop their own pay bubble? How do you think the pay bubble got so large in the first place?

What we need is a separation between corporatations and government

Yeah it's been on most financial websites.

Tech Ticker

S., Your correct about a separation of govt. from corporations. Today on the news a CA state rep was caught on tape bragging about shagging lobbyists..... The new kind of lobbyist; the massage type

T., There's lots of information coming out daily on so many things, and the only thing that comes to mind is Spread It All. No letting up

Life must be so hard for these guys.

If banks and institutions want to make reckless investments/ventures let them, after all a free market economy would be far better than what we have at the moment.

However what we shouldn't have done is bail them out when TSHTF, let these banks pay for their stupidity by collapsing.

I know it would hurt many citizens but imagine how annoyed they would be with the Bankers/Corporations, they would lose their power and we would have taken a step towards a better world.

reply to post by Chilled Zen

I know it would hurt many citizens but imagine how annoyed they would be with the Bankers/Corporations, they would lose their power and we would have taken a step towards a better world.

Yep, it's a sad state of affairs. Imho the bankers always had this entire scenery planned out, and they are executing the game plan now.

Sure, had the People stood up many would be hurt themselves, but in not standing up , and realizing the evil nature of the Elite, We all will end up hurt.

We must stand up, and get off this ride before it's too late; better to get a few bumps, and bruises, than to hit the cold hard steel wall of truth at full speed.....