That's the latest idea from the financial wizards such as Alan Greenspan (the guy who set up the entire sub-prime disaster): Have a Federal agency to buy bad assets from the companies that are failing.
I say OK, but with one proviso: Whenever that is done, we shoot the CEO, CFO, President and Chairman of the Board of Directors and their predecessors going back two years. No trial, just grab them, stand them up against the side of a building on Wall Street and shoot them. Same rule would apply to a bank if the FDIC takes it over.
At the end of the day, all of these clowns are going home, maybe as not as incredibly rich as they once were, but none of these guys are suffering. For instance, the CEO of Bear Stearns walked away with $60 million. That's a lot less than the billion or so his shares were once worth, but sixty million smackeroos isn't exactly chump change. He won't exactly be living in a refrigerator carton under a highway bridge.
These fuckers are playing with the lives of hundreds of thousands of people. It wasn't the worker bees at Lehman Brothers who flew the company into the side of a cliff, it was the "masters of the universe" running that company. None of those guys will be faced with having to live out of his car anytime soon, but tens of thousands of their employees have lost their jobs and may suffer that fate.
So let's have these guys, the "masters of the universe," truly have some skin in the game: Their own.
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2 comments:
I think just making it a twenty year sentence in Maximum Security would do, death penalty over money seems extreme. 20 years in Max!
The whole point is to be dramatic. You wipe out billions of dollars of other people's money, you cost the government tens of billions of dollars to avoid a collapse, you get a 9mm brain hemorrhage.
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