Lee R. Raymond — Exxon Mobil Corp.: Raymond bailed in 2006 with a golden parachute that totaled more than $351 million. Raymond’s biggest contribution to the petroleum powerhouse came in 1999, when he struck up the merger between Exxon and Mobil to create the largest and most profitable oil company on earth.
What a contrast with:
Hundreds of thousands of out-of-work Americans are receiving their final unemployment checks sooner than they expected, even though Congress renewed extended benefits until the end of the year.
The checks are stopping for the people who have the most difficulty finding work: the long-term unemployed. More than five million people have been out of work for longer than half a year. Federal benefit extensions, which supplemented state funds for payments up to 99 weeks, were intended to tide over the unemployed until the job market improved.
.... Next month, an additional 70,000 people will lose benefits earlier than they presumed, bringing the number of people cut off prematurely this year to close to half a million, according to the National Employment Law Project. That estimate does not include people who simply exhausted the weeks of benefits they were entitled to.
To add to the pain of utter unfairness, how about this bit of news:
Lee Raymond, richly larded with the hugest golden parachute ever, has served on the Board of Directors of J.P Morgan Chase since 1987, pulling down about $90K per annum plus expenses.
Oh, I almost forgot. Raymond also pulls in about $170K per annum in stock awards from JP Morgan.
Um, let's see .... redistribution of wealth...
It certainly ain't going from the rich to the poor, is it?
An economic theory or policy that advocates reducing inequalities in the distribution of wealth.
Austerity. Just another name for making the rich richer and the poor poorer.
And maximizing inequality. Lee Raymond, the maximum in inequality.