So what happened to all the vermin who angrily defended executive golden parachutes?

[brentspeak]

You know, the ones who self-righteously proclaim that it's "wrong" to nullify huge bonuses because such bonuses were "part of a pre-agreed legal employment contract".

They're also the same creeps who maintained that corporations responsibilities aren't to their employees -- or even to their customers -- but only to the shareholders: "The companies have a fiduciary duty to maximize shareholder value. Employees and their wages and benefits are secondary."

Ok, so now that GM retirees are facing losing everything they've worked for, how come these same talking skunks (Larry Kudlow, CNBC, Fox Business Channel, etc.) aren't angrily pounding their desks to defend the retirees' legal contracts? What happened to their new-found sense of legal justice? What happened to their outraged defense of binding legal contracts?

[liberal N proud]

1. If there were anyone on this board who sided with the CEO's they

were trolls

[BlooInBloo]

2. DUers you mean? I don't recall any of them.

[kestrel91316]

3. There were a few. Low post counts.

[BlooInBloo]

4. Gotcha - thanks!

[depakid]

5. I didn't see anyone making arguments like that on DU

On the other hand, breach of contract involves consequences- and shareholder derivative suits on matters like these have been limited as part of the wave of Congressional and administrative deregulation and corporatism on the part of the federal courts.

As to GM, bankruptcy can handle excessive executive compensation, just as it can collective bargaining agreements. Whether that happens or not, we'll have to see.

ps: if you're looking for consistency from the likes of Fox "news" and CNBC -you'll have to look for a very long time before you find it!

[brentspeak]

9. I goofed when coming up with a thread title

I see now that it's easily interpreted as being targeted at DUers - but it's really about mainstream media talking heads like CNBC and FOX Business Channel.

[HughBeaumont]

6. One look at my journal tells you that couldnt've been me. I'm pro-Guillotine.

Bonuses? Compensation? These shameless idiots should be lucky they're making it out with their freedom and massive fortunes intact. You bankrupt your company and fire your workers, you don't deserve shit.

Do the rich realize that their businesses are going to NEED customers with spendable cash eventually? You know, because all of these mass firings are sure going to make that happen pretty soon. :eyes:

Corporations need to toss the Friedman/Feldstein model out the window and go back to the slow and boring but ASSURED way of creating wealth - huge infrastructure investment, more emphasis on public transportation, hybrids and straight electrics, a strong middle/working/poor class and a progressive taxation system. Up the highest rate to 50%. Maybe even 55%. Hell, if I got to keep 55% of 2 million dollars and above, I wouldn't be starving. Absolutely no job offshoring until the REAL unemployment rate is down to 4% and even then, it had better be after an extensive search that leads to no American citizen being able to perform the job.

And above all, bring an abrupt end to Bewsh's wasteful wars and get the fuck rid of Big-Insurance-controlled Health "Care". I truly believe that's why his presidency ended up more disastrous than Reagan's or his old man's . . . he didn't just not stop the bleeding, he opened the wound up even further. But hell, when you have a crime boss like Don Vito Cheney-one at your side, how could you follow any other plan?

[brentspeak]

10. I have to admit that...

...I'm finding myself becoming more-and-more "pro-Guillotine" with each passing day - and I was never like that in years past.

[HughBeaumont]

11. There's a story on Yahoo that should completely send you into that realm:

"Ford, GM CEOs continue lavish lifestyles as companies fail"

It's a video link about the auto CEOs continuing to fly on many private jets while begging Congress critters for a piece of that taxpayer pie! The brazen GALL of these people will make your nerves blow up. The company defends the use, stating "it's non-negotiable and that's the way they HAVE to travel."

Also talks about AIG and their continued top-of-the-heap executive perks while receiving a $150 biillion bailout.

Read the books Perfectly Legal and Free Lunch; both great exposes highlighting waste, opulence and jet-setting . . . all on our DIME.

You want to know what the scariest thing is?

57 million people (and I imagine more than a few of the 63 million other voters) think this way of life is perfectly OK.

Are we trained to be this DOCILE?

[Zhade]

7. If there's any justice, they were crushed when the CEOs landed.

NT!

[Romulox]

8. I posted a WaPo story about how 1/2 of bank bailout money was being distributed as "dividends"

You better believe that many DUers were whole-heartedly defending this.

And they were NOT low post count.