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