Who are these 'compensation experts' that say that . . .?
. . . financial industry salesmen and executives deserve huge payments for failure? In fact, could the use of these consultants be a major part of the problem? It seems that the goals they're attracting performers for are the very ones that have destroyed our financial service providers. Do we need to CHANGE what it means to be a successful banker? The new rules would set a $500,000 cap on cash compensation for the most senior executives, curtail severance pay when top executives left a company, restrict cashing in on stock incentives until government assistance was repaid and prod corporate boards to closely scrutinize luxury perquisites like private jets and country club memberships. Your thoughts? http://www.nytimes.com/2009/02/05/us/politics/05pay.html "The plan’s effectiveness in curbing executive pay may not be known for years, however. Past administrations have also been critical of excessive pay, but corporate executives have found ingenious ways around limits, often hiring consultants to create new forms of compensation." Is there some reason to believe that the people who have created this mess are 'talented' in any way that benefits anyone but themselves? As for 'ex post facto'--maybe it's time to redesign the SEC and change all the rules. We're all in trouble here. Any thoughts? thomas--What 'talent' and what exactly IS 'productive' about the mess these people have created? Talent that is only self-serving we don't need. A regulatory environment that encourages individuals who can create wealth for more than just themselves, we do need. It seems that we've created a financial services system that rewards thugs only. How do we change that?
Asked By: nora22000 - 2/5/2009
Best Answer - Chosen by Asker
The same guys that have been telling us that "globalization" creates jobs in the US. Even when evidence (look around) exists to the contrary, they continue telling us that off shoring 70% of our money and all our jobs will make us rich. Well, it does make THEM rich, us, not so much.
Answered By: Gem - 2/5/2009
Additional Answers (2)
It is not a problem. The executives with talent and a history of being productive will move to smaller private equity firms who did not take TARP money. The article does not mention that the new congress approved an extra $93,000 expense money for each of its 535 members. To better serve their constituents, I think... More
Answered By: thomas p - 2/5/2009
since the Constitution of the United States prohibits ex post facto laws [making something illegal after the fact], I'm not so sure that President Obama is on good legal grounds here... More
Answered By: Spock (rhp) - 2/5/2009
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Legitimate Survey for Cash.Extra Money for You,Join Here!
$21/hr Start, Avg Pay $72K/yr No Experience Needed! Get Started.
Free for Job Listers and Job Seekers!
Other Career Questions
Do most mechanical engineering jobs offer job security?
What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.