Good job to America’s top paid CEOs

Running companies into the ground while being paid millions a year seems to be business as usual to these top dogs in the financial industry. It all began with the Enron problems and has swiftly moved onto AIG, Washington Mutual, Lehman Brothers, etc. Isn’t it amazing how the extreme search for profit has compromised some of the largest companies in America? I am not against companies being profitable. I love the fact that anyone can start a business and find success. That is a beautiful thing about this country that we live in.

Here is the problem. These guys run their companies into the ground and upon being fired get a huge check and a home in the Bahamas. I think there needs to be consequences for their actions…not benefits. Here is a perfect example of how bad it can be. CEO of a large financial institution took the companies mortgage lending into a horrible direction, where anyone could get a loan and that loan was generally for a lot more than what the home owner could afford. A majority of these loans granted were 3-5 year arms. Meaning after 3-5 years they would have a new interest rate the next year. You would buy an arm because interest was lower and you could purchase that dream home. The problem is that 3 years later your mortgage payment could double.

And here we are with that CEO walking away with a check for $20+ million and slap on the back. The company will be lucky to be around in 4 months. He should have to put that $20 million bonus towards those loans that are falling apart, and then find out how jail feels. Nothing is safe, but here we the people experience business as usual.