On Sat, Apr 18, 2009 at 11:56 PM, Gruss Gott <[email protected]> wrote:
> > And, by the way, which "low cost" countries did we outsource our > financial services too? Cause that's where all the wealth came from > in the last 30 years. > > I'm sorry sir, but the facts are in: wealth redistribution has been > driven by 30 years of lobbyists creating shitty policy for the middle > class. > I agree that regulatory policy created opportunities for people to make a ton of money in financial services. But it also created opportunities for people to lose a ton of money in financial services, which is where we are today. Given that situation, the only "fair" thing to do is to let the losers fail, as I was saying. Our key challenge should be to prevent the failure of the losers from disrupting the overall system. > Still don't believe me? Let's take one case of in-the-good-ole-USA > wealth redistribution driven policy: CEO pay which robs from the > worker and shareholder and gives to the CEO: > > "So when I read an opinion authored by Judge Posner saying that the > market is arguably incapable of either setting CEO compensation or > determining mutual-fund fees, my first reaction was to put the > document down, rub my eyes, and check the authorship again. Then I > read on, with increasing incredulity" > http://www.slate.com/id/2216165/ We've been talking about corporate boards being broken for years, and we have yet to find a reasonable alternative to the current system. So what do we do? Some CEOs earn every penny of their compensation, others are basically given a free pass by the board to plunder the company. How do you police that? Got me. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:295433 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
