Discussion in 'Wall St. News' started by Aaron Copland, Nov 14, 2008.
He needs to quit.
He's doing exactly what Bush and his handlers wanted him to do, i.e., screw the american people.
Paulson's `Chump' Kashkari May Ruin Christmas, Congressman Says
By John Brinsley and Rebecca Christie
Nov. 14 (Bloomberg) -- On Capitol Hill today, Neel Kashkari became the ``chump'' who stole Christmas.
Kashkari, who oversees the Treasury's $700 billion financial rescue plan, came under fire at a congressional hearing today, notably by Maryland Democrat Elijah Cummings. Cummings was angry about reports American International Group Inc., which got an expanded $150 billion government bailout this week, is setting aside $503 million in compensation for executives.
``I'm just wondering how you feel about an AIG giving $503 million worth of bonuses on the one hand, and accepting $154 billion from hard-working taxpayers,'' Cummings asked Kashkari. ``What really bothers me is all these other people who are lining up. They say, well, is Kashkari a chump?''
Again, WHY THE FUCK should executives be getting bonuses when they ran the company into the ground?
The leadership of ANY company that needs a bailout, has inherently failed in their duties.
Such leadership should be fired rather than paid bonuses.
Is there not some law that if a company fails the executives are held accountable, can be even punishable with jail?
If we start a private company and commit fraud etc and the compnay goes under with debt then we finish up in jail. So why should it be any different for a publicly traded company?
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