Phil Gramm calls CEO who received $158 million "the most exploited worker in American history" [View All]

[brentspeak]

I found out about this from Frank Rich's article this morning (http://www.nytimes.com/2008/07/20/opinion/20rich.html?ref=opinion).

Here's what Turtle Man told toadie Stephen Moore of the WSJ-Opinion Journal : (Disclaimer: the WSJ' reporters are excellent; its editorial staff, which includes Moore, is a joke)

Most of his former colleagues probably can't fathom why Wall Street bankers make tens of millions of dollars in salaries and bonuses each year. How would he justify these fat pay days? "It's simple," he lectures, sounding very much like the Texas A&M economics professor that he was in the 1970s: "In economics, we define labor exploitation as paying people less than their marginal value product. I recently told Ed Whitacre he was probably the most exploited worker in American history because he took Southwestern Bell, which was the smallest of the former Bell companies, and he turned it into the dominant phone company on earth. His severance package should have been billions."

http://online.wsj.com/article/SB121460589609712025.html?mod=googlenews_wsj

I don't know. Maybe we should take up a collection for poor "exploited" Ed.