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Thread: A.I.G. executives face scorn, even at their homes

  1. #101
    Count Smackula
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    Re: A.I.G. executives face scorn, even at their homes

    Can you tell me, in your infinite wisdom, how much an executive who manages a company of 10's of thousands of people is worth? Don't you think the board of directors would be a bit peeved if they felt the executives were being over compensated?
    Clearly, the executives of many companies in financial industry were being over payed, as you would be hard pressed to justify paying someone a single dollar to bankrupt your entire industry. I am not arguing against executive pay as a whole, just executives who get paid vast amounts of money to bankrupt their company.

    So you're saying that the economy crashed because of executive compensation?
    No, I am saying that some stupid executives were highly responsible for crashing the economy from their short-sighted greed.

    I don't think they "asked" for money. The company was contractually obliged to pay them. You don't like merit based pay? Are you of the opinion that every job, no matter how hard, should be paid the same amount?
    My point is that there is no "merit" in paying someone huge amounts of money to take a company into bankruptcy. Stop the strawman attempts.

    I'm afraid you inhabit a fantasy world.
    Really. I'm afraid you inhabit a world without history. We are currently in a time of economic crisis after going into debt from wars abroad while a group of rich privileged members of society get death threats from members of the angry populace. Those are the conditions that historically lead to turmoil and chaos. It would be foolish to ignore them now.

  2. #102
    Educator BulletWounD's Avatar
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    Re: A.I.G. executives face scorn, even at their homes

    Quote Originally Posted by rathi View Post
    Clearly, the executives of many companies in financial industry were being over payed, as you would be hard pressed to justify paying someone a single dollar to bankrupt your entire industry. I am not arguing against executive pay as a whole, just executives who get paid vast amounts of money to bankrupt their company.
    How do you figure? People can't make good decisions about what a job is worth. That's what our experience with the Soviet Union taught us. The value of a position is best decided by the market.

    No, I am saying that some stupid executives were highly responsible for crashing the economy from their short-sighted greed.
    I agree that some are short-sighted. The moral hazard we're promoting here doesn't help the matter. This experience has shown us all a flaw in the financial system - their complex entanglement that doesn't allow one institution to fail gracefully. It's kinda like how a hacker finds a vulnerability in a piece of code. If it weren't for the hackers, computer software quality would not be as high. By subsidizing these failed companies, we're just covering up the flaw instead of encouraging the finance industry to fix it and prevent it in the future.

    My point is that there is no "merit" in paying someone huge amounts of money to take a company into bankruptcy. Stop the strawman attempts.
    I'm not attempting a straw man. "Merit pay" = performance related pay. Whether the contracts under which the executives were hired were poorly written/planned is another question.

    Really. I'm afraid you inhabit a world without history. We are currently in a time of economic crisis after going into debt from wars abroad while a group of rich privileged members of society get death threats from members of the angry populace. Those are the conditions that historically lead to turmoil and chaos. It would be foolish to ignore them now.
    Yes it would. Get out there and make a difference. I don't mean politically either. People need help right now. A violent revolution is in nobody's interest, certainly not the people that are whipped up in a frenzy right now.

  3. #103
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    Re: A.I.G. executives face scorn, even at their homes

    Quote Originally Posted by BulletWounD View Post
    The value of a position is best decided by the market.
    You mean how you supported the bubble market in the 90s?

  4. #104
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    Re: A.I.G. executives face scorn, even at their homes

    Quote Originally Posted by TheNextEra View Post
    You mean how you supported the bubble market in the 90s?
    What are you talking about? I was still ****ting my pants in the 90's. We're talking about the value of a job, not the fluctuations of the stock market.

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    Re: A.I.G. executives face scorn, even at their homes

    Quote Originally Posted by BulletWounD View Post
    What are you talking about? I was still ****ting my pants in the 90's. We're talking about the value of a job, not the fluctuations of the stock market.
    You said the market best decides the value. Well that is what the market decide, are you ok with that then?

  6. #106
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    Re: A.I.G. executives face scorn, even at their homes

    Quote Originally Posted by TheNextEra View Post
    You said the market best decides the value. Well that is what the market decide, are you ok with that then?
    I'm more okay with that than some guy pulling a number out of his behind. The jobs market isn't subject to the fluctuations of the stock market.

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    Re: A.I.G. executives face scorn, even at their homes

    Quote Originally Posted by BulletWounD View Post
    I'm more okay with that than some guy pulling a number out of his behind. The jobs market isn't subject to the fluctuations of the stock market.
    Well in the 90s the market said INVEST INVEST. So don't complain about the @#$@#$@ market.

  8. #108
    Educator BulletWounD's Avatar
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    Re: A.I.G. executives face scorn, even at their homes

    Quote Originally Posted by TheNextEra View Post
    Well in the 90s the market said INVEST INVEST.
    That's how people read it. The stock market is used by a lot of people as a form of gambling rather than treating it like they're purchasing a business (which is what they're doing). Electronic "investing" through the internet hasn't made the situation any better.

    So don't complain about the @#$@#$@ market.

  9. #109
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    Re: A.I.G. executives face scorn, even at their homes

    Quote Originally Posted by BulletWounD View Post
    That's how people read it. The stock market is used by a lot of people as a form of gambling rather than treating it like they're purchasing a business (which is what they're doing). Electronic "investing" through the internet hasn't made the situation any better.
    But you said the market decides, and guess what, that is what the market decided, kinda blows your defense out of the water there.

  10. #110
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    Re: A.I.G. executives face scorn, even at their homes

    Quote Originally Posted by TheNextEra View Post
    But you said the market decides, and guess what, that is what the market decided, kinda blows your defense out of the water there.
    Not really... Tell me, without looking, how much do you think a share of Google should be worth?

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