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View Diary: Reed, Blumenthal propose to stop tax subsidies of 'performance-based' pay for corporate execs (46 comments)

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  •  Years ago it was routine for CEOs to get (7+ / 0-)

    enormous bonuses even when the company tanked, but now, it has to almost break even. If it wasn't sickening and saddening it would be funny.

    That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power. -- Franklin D. Roosevelt --

    by enhydra lutris on Mon Aug 05, 2013 at 10:52:47 AM PDT

    •  Don't forget those "investment firms" and "banks" (4+ / 0-)

      that cried about not being able to hand out bonuses to retain all that top-notch talent after that very same "talent" had nearly destroyed the global economy.

      "If you mean time-traveling bunnies, then yes."

      by here4tehbeer on Mon Aug 05, 2013 at 02:16:05 PM PDT

      [ Parent ]

      •  Yep. If all of the big players cut their (4+ / 0-)
        Recommended by:
        here4tehbeer, wu ming, nchristine, ichibon

        executive compensation by 50%, pretty much nobody would walk because they would have nowhere else to go. They don't need the money, though they do love and crave power, but it is as much about status as anything else.

        Unfortunately, they all sit on each other's boards and compensation committees, so nothing will change without legislation. The idea that anybody is worth that much is silly, especially those who don't actually do or produce anything but just glad hand around.

        What did Einstein get paid by Princeton. I would think that figure, inflation adjusted, would be a pretty good measure of what a top notch brain is worth, the rest is fluff.

        That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power. -- Franklin D. Roosevelt --

        by enhydra lutris on Mon Aug 05, 2013 at 02:45:43 PM PDT

        [ Parent ]

        •  I also remember Rudy 9iu11ani complaining that (3+ / 0-)
          Recommended by:
          left turn, enhydra lutris, ichibon

          killing bonuses would kill NYC...

          “If you somehow take that bonus out of the economy, it really will create unemployment,” he said on CNN’s “American Morning.” “It means less spending in restaurants, less spending in department stores, so everything has an impact.”
          At that point it's not a bonus -- it's a ransom demand.
          --

          "If you mean time-traveling bunnies, then yes."

          by here4tehbeer on Mon Aug 05, 2013 at 03:29:39 PM PDT

          [ Parent ]

          •  It is hard to spend a half a million on (0+ / 0-)

            restaurants and department store goods.

            That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power. -- Franklin D. Roosevelt --

            by enhydra lutris on Mon Aug 05, 2013 at 05:09:06 PM PDT

            [ Parent ]

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