Monday, November 2, 2009
Squandered Wealth
Lending support to the argument that these huge bailouts are being squandered by the companies that receive them is news that those companies still give their officers huge bonuses and golden parachutes; the people responsible for driving their companies into the ground are receiving what amounts to ill-gotten gains. A serious lack of ethics is shown by seeking out additional funds directly from the people and using them to fatten their own wallets instead of using them to prop up their companies.
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If only the American corporate culture had adopted the Standard Operating Procedures of Japan, Inc. where executives' personal fortunes voluntarily rise and fall with their corporations.
ReplyDeleteAsia countries tend to be more left wing. For many generations Asia countrys has been at war and the only thing keeping the civilians alive was the country. Over time the civilians tend to think for the country first then themselves. In America they were born up as a rebel, separating themselves from the British. From the culture point of view, they are born up with a patriot aspect.
ReplyDeleteI predict the rich companies believe in the trickle-down effect. Where they swing their money up in the air, then small cracks in the pocket fall small change for the low income people.