House Of Rep looks at Mortgage Company CEOs

[chinaco]

Apparently Republican Reps ran interference for the fat cats that caused this mess.

It wasn't their fault. But pay them anyway.

Puzzling Pay Packages - Forbes.com

[Spanky]

Quote:

Prince said in his testimony that much of the media's reporting on his pay was inaccurate, adding that Citi's Board of Directors uses a third-party consultant to advise the company on its executives' pay. "Citigroup has worked hard to align management's interests with the interests of shareholders," he said.

Since the third-party consultant is hired by the board, his/her recommendation would be closely tied to the number expected by the CEO. Should they be putting the interests of shareholders ahead of that of management? The entire issue that you need to have a huge compensation in order to attract top talents is beyond my comprehension. It implies that top talents are motivated by money only.

[chinaco]

I hope they investigate and see what they can fork up. Turn the IRS loose on them.

They will find something, one of them will lie and go to jail for perjury.

The whole thing was a money grab by the big banks due to low interest rates. They knew better. The whole game today is to make as much as one can anyway they can and retire/exit.

Send them to jail and send another message out to Top Management of companies. "You act irresponsibly... you go to jail and loose it all".