I Wish Someone Would Lock These Guys Up

   CEO pay at large corporations in this country is sickening! Today three crooks..errr..current and former CEOs, involved in the mortgage mess, defended their obscene compensation packages in front of Congress.

   The whole deal is just nauseating to me. The idea that somehow these jokers are 1000s of times more valuable in their contributions to a company than the people down in the weeds that actually do the work is laughable. The boards that pick the CEO and then decide his compensation, bonus, etc. are usually all CEOs themselves, so it turns into a nice, good ole boy, backslapping arrangement. Talk about a racket.

   If the SEC has been given the authority to regulate publicly traded corporations, they should also have the right to be involved in limiting the CEOs packages because in the end, when the CEO has fallen out of favor and is let go, he ALWAYS leaves with millions in cash, stock, and health benefits, not to mention cash to cover legal fees for his misdeeds while in office, all part of his original employment contract. And, of yeah, he probably gets to fly around in the company jet and maybe even let his family use it on their own.

   This while "regular", contributing employees get let go to trim costs (if the business is stagnant) and shareholders, the company's owners, take it in the shorts due to falling stock prices.

   While the seasons come and go for the rest of us, it is always Christmas in the executive suite.

   What a load of crap!