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? "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
Sponsored results
(86) Local Jobs Paying $27-$86/Hour- Available Now. Apply Online. Jobs
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Work At Home Jobs Make $87/HR, Jobs Seen On TV. Jobs Hiring Now
Drive Your Car - Make up to $600 Per Weekend. Work When You Want.

Other Career Questions

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...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
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...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

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.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
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 Article Rating
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.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-216