It's Shameful - Will We Finally Get Action on Executive Pay?

In terms of rhetoric this one is pretty good:

But in this article, the keyword is may:

Andrew Cuomo, New York’s attorney general, may demand the return of $4 billion in bonuses paid by Merrill Lynch & Co. just before it was acquired by Bank of America Corp., a person familiar with the matter said.

Cuomo also wants to know what Bank of America Chief Executive Officer Kenneth Lewis, 61, knew about the accelerated bonuses and about Merrill’s surprise $15 billion net loss in the fourth quarter, the person said. Lewis fired Merrill’s CEO John Thain this month after the losses required more federal aid.

I would go further, start getting these executive positions more in alignment with the national interest as well as the corporate, shareholders interest. The COP recommendations also state this as a goal. One thing is certain, this glorified executive feudal kingdom has got to stop.

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I think they don't understand the purpose of Wall Street

Stock markets in general are a way for businesses to get startup capital, and in return agree to eternal taxation of their profits by anybody who "owns" the stock.

In other words, it's much like how organized crime works- go to the Don for the startup capital for your enterprise, and pay protection money forever afterwards.

We got the capital, so they get the protection money. Should it be legal? Probably NOT, but that's the way the system is currently wired.

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Maximum jobs, not maximum profits.

talkin' the talk, not walkin' the walk

Bad news. According to the Washington Post, all attempts to limit executive pay of those institutions receiving taxpayer money....

will not happen.

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