This article outlines a pattern of collusion among corporate executives justifying their executive compensation packages while maintaining the fiction of arms length consultation. What is not included in this article is the relationship of the executives to Wall Street analysts who help determine the market value of the corporations, a dimension which drives the compensation. A problem with JP Morgan is that Obama is enamored of Jamie Dimond, as was Tim Geithner, who now expects to cash out on his experience with the Fed, a time honored tradition that undoubtedly affected his judgment during the crises of 2008 - 2010 and has stayed the hand of justice going after executives engaged in the fraud that created the bubble in the first place. The executives of the Greatest Generation created the wealth that the executives of the Cheney Generation has been systematically looting since Reaganomics became the law of the land. The irony is, of course, the people doing the looting are the people most likely to identify with John Galt of Ayn Rands Atlas Shrugged, and his insurgency against the Looters.
Posted on: Sun, 02 Feb 2014 05:27:18 +0000
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