Want to buy Goldman Sachs 4 top execs or Bear Stearns? It's crazy to think about but i just read an article that the 4 top execs at Goldman make over 170 million total. That is just about the price that JPMorgan plans to buy Bear Stearns for...
Here we go: 1. The stockholders have to find a way to have more control of their investment. 2. Greed has never been a good thing all threw history. 3. Giving the greedy wealthy the tax cuts has never worked for the economy, because they don't spend their money. Trickle-up does not work. 4. Cutting peoples jobs to make the numbers to bonus is wrong! 5. What's really sad is I'm sure these are God fearing hypocrites who justify it somehow threw their savior Jesus Christ. I believe in God, but was grew up going to church when they preached brotherly love, right and wrong, truth and lies not politics, the almighty dollar and hate of anyone or anything. 6. The wealthy should never control government for many reasons, ,one being, they just want more wealth at any cost to the country and its people. The republicans are always questioning the Democrats patriotism, maybe would should question theirs. I'll get back later.
Rep. Waxman(D-CA), chairman of the House Oversight Committee, is holding another hearing today on the huge retirement/severance bonuses, stock options, and large cash payouts, when they resign or 'retire' from failing companies. Waxman's point is that the excessive amounts of 'rewards' further disable the companies, force layoffs of their employees, and hurt their stockholders, which could, and sometimes does, affect the markets.
On the other side of this issue, Rep. Tom Davis(R-VA), the ranking minority member of the House Oversight Committee, believes that Congress should not interfere in the internal affairs of corporate America. His actual wording was, "Congress has no business micromanaging companies." He went on to say that "booms and busts" are normal and should be left alone to correct themselves. He also pointed out that some companies have addressed excessive severance payouts on their own.
Both men have raised valid points, but it seems that during the 14 or so years that Republicans have had control of Congress, they've turned a blind eye to companies conducting unfair business practices that are flagrant violations of federal regulations; manipulating markets; enforcement of regulations. It seems that Republicans would have NO regulation of businesses at all, and we should just let businesses do their own thing, unhendered.
Free-market is a great idea, but without enforcement of current regulations, this is the result that Rep. Waxman is addressing-the excesses that are now hurting the markets, creating stress on the public because of corporate greed, and contributing to creation of a recession. Davis would have us ignore big business' excesses. Waxman would have us look at big business' excesses and make them obey the law.
