Re: Outsized Pay on Wall Street Persists

On Jan 13, 2011, at 8:37 PM, The Voice Of Objective Truth wrote:

> ridiculously beyond that of his employees.  The wage gap for CxO level
> has grown astronomically, and I feel that it's bad for society
> (increasing executive pay while holding/lowering that of others) and
> it's bad for the share holders --  that money could be spent in other
> ways to grow the companies or just given out as dividends.
>
> I think the banks are even worse as they don't produce any physical
> wealth.  But with bankers,the excessive bonuses aren't even at the CxO
> level.  Somehow that industry has a massively inflated pay scale in
> certain segments of it (not tellers obviously).

Well it's even worse because these excessive payouts are being  
subsidized by taxpayer dollars.  The gov't simply refuses to let these  
thieves fail.
Even when they are caught in blatant fraud they are being rewarded at  
the expense of the honest and law abiding.
The incentives are about as harmful as they possibly could be.
This isn't sustainable and it is how nations fall and social upheavals  
happen.

What benefit do I stand to gain for being honest, paying my bills,  
transacting honestly in commerce?   None.  So eventually I will stop.
I read today that the average foreclosed home has been delinquent for  
14 months.  14 months!  That is someone living house payment free for  
14 months!  Wow...as a renter, I'd be out in 30 days!
Yet, I somehow can't blame them too much.  I'd rather them get a free  
house than the pirate banksters.

Thing is, if they'd just let housing fall simply to it's mean...then  
we'd all be able to afford reasonable housing.  But that means the top  
5% have to take losses since they own the vast majority of assets tied  
up in these fraudulent mortgage backed securities.

regards,
-Lance


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