http://www.guardian.co.uk/business/2009/apr/05/useconomy-regulators "It is crucial for these things to happen," she said. "Japan tried to avoid them and just offered subsidy with little or no consequences for management or equity investors, and this is why Japan suffered a lost decade." How are we going to recover without the Best and Brightest in charge?
I don't know. But then I don't think the best and brightest are or were ever in charge to begin with.
The "Best & Brightest" proved the ONLY thing they were good at was filling their OWN pocketbooks with $millions at other fools' expense.
This is strictly a political move by the dems (labor unions, the unemployed, and generally uneducated.) In their eyes, the firing of a CEO or some board members signals that "change" is coming. Lets be honest, for the majority of these people, they aren't exactly smart enough to comprehend the crisis. "Obama forced Wagner to step down" is a headline they can relate to. Obama/Pelosi spending billions of taxpayers money to a company will go bankrupt doesn't hit home. Its kinda sad to see the people in power just using these people to stay in power.
Are you being sarcastic? The bankers CAUSED the financial meltdown, they put their companies at risk so they could get hundred of millions. These people were never managing their companies for success, it was always about personal fortune. If you don't fire them, the message will be clear : screw up companies, screw up the economy, and you're safe. Gee, has it ever occurred to you that such things as conflicts of interest exist? It's like some people still think these guys were doing their best to minimize risk.