HokieMSG
Active member
Or making the average citizen their whipping boy when things go wrong.
We cannot let these companies fail. If we dont' bail them out, their rich CEOs wont' pour their own money into it. They'll let it go bust and cash in with the millions they still have left while everyone else loses all income. The only truly fair thing to do would be to strip the CEOs of all their money and pour it into company fund.
That is the heart of the problem. The Boards of Directors are allowing these obscene salaries, and the "golden parachutes". I don;t think that the government should regulate it either. I do think that CEO's need to be more accountable to the shareholders. Maybe a couple class action lawsuits against the boards and CEO's would bring them back to reality.
IMHO I think that if the government need to step in to bail the company out, they need to audit the company. If the company officers (CEO and Board) made no reasonable efforts to get the company out of debt, mis reported earnings or anything that did NOT improve the profitability of the company. Send them to jail. Ultimately I think that if companies are not building products that people want, maybe they should fail. I understand the ripple effect that losing one of the big 3 will have, but maybe it's time we reduce the number to 2.