Wednesday, September 24, 2008

Middle of the week wunderings...

What's wrong with this picture?

Per CNBC, on July 1 2008, American International Group (AIG)said it paid a $47 million severance package to former Chief Executive Martin J. Sullivan, whose resignation took effect on Tuesday.

Per RiskMetrics Group, Ex-CEOs Stanley O’Neal of Merrill Lynch and Angelo Mozilo of Countrywide Financial each received over $100 million upon departing from their respective firms, and Citigroup’s former CEO Charles Prince left with more than $40 million in termination-related payments. All three appeared before Congress in March to answer questions on whether their compensation packages were aligned with the interests of shareholders.

Seriously (for my tweets -srsly), let's ponder this for a moment. These yo-yos run these companies into the ground and steal money that would have paid for the actual cost of doing business. Or paid shareholders who lost their shirts. So, I have still lost money on AIG, my investment paid that jackass a $47 million dollar severance, my taxes will pay to bail out AIG and now there are rumblings of bailing out failing homeowners. Srsly, this HAS TO STOP.

And I wonder how many congressional representatives took contributions from AIG, Countrywide, etc. Don't you? Responsibility. Accountability. Ownership. You get it. Maybe others will too. Someday.

Off to work to pay for other people's poor choices. At least the weather is beautiful!


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