Don't Hurt the CEOs!
Both John McCain and Barack Obama are demanding that the bailout package be restricted in terms of its CEO compensation - and certainly, I don't want to pay for it, so I hear that. In general, there are other populist cries that I respond to more than this, but it's a fair point.
And then I see things like this and realize that these CEOs don't need ANY more cash. This is the estate of the former CEO Joseph Gregory of Lehman Brothers - to be clearer, it's his beach house, which he and his wife spent 14 days in for the two years they owned it. It cost them $22,000,000. They are trying to make a $10,000,000 profit on it, apparently, since the price tag is now $32.5 million.
I'm all for capitalism, and god knows people should spend their money on whatever they want, but that's recockulous to presume we need to give these jokers any MORE cash. Want to feel even worse?
Here's former Freddie Mac CFO Anthony Pizel (yes, the one in charge of the finances, the one who truly pooped the bed):
But remember - don't ask questions about the bailout! There's no time! There's no time!