Monday, September 22, 2008

Bush On the Side of CEOs' Compensation Packages

Photo from source, Think Progress

Ugh. One of the many problems I've had with the Bush Administration over of these last eight years is the lack of accountability. This is made worse by the rhetoric used to excuse it. Nobody does anything before there's a problem, and then when a problem happens, they say, "now is not the time to point fingers," or "now is not the time to play the blame game."

It was a mantra after the Hurricane Katrina fiasco. Blame game, finger pointing, blame game. I think Jon Stewart did a montage of it at the time. And now that we're in another crisis, this one financial, they're at it again.


We certainly understand and are sympathetic to the sentiment regarding the pay of CEOs and senior management of these firms, but we have to focus on the problem, and the problem is that we need these firms to participate in the program and sell us this debt. Having punitive measures would provide a disincentive for firms to participate, and that would make the program much less likely to succeed. . .

Read more at: Think Progress

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