Where are the thieves?
Cheap loans were bundled as triple A financial products for sale. Not unlike tainted milk. Rating agencies collaborated to give them the green lights. Govt regulators cheered them on or went to sleep. And the public were conned to part with their billions and trillions. And the thieves got rich, outrageously rich. Why is there no question being asked now, and why is it that no one is guilty for creating such a colossal financial mess? The anger in the main streets of America is understandable. The second point is equitable compensation. The super talents must be paid their worth in salary, bonuses, perks, stock options and golden parachutes. They deserved them more when they make millions and billions for the organisations. Pay must be performance linked. These sound so familiar and logical. Make billions paid millions. What happens if lose billions? Oh, sorry, just a bad decision. Give me my golden parachute. Bye. This is about the worst case scenario for corporate failures, the bankruptcy of mega institutions, the lost of billions and trillions of dollars and the lost of jobs for all the employees, not forgetting the destruction of a financial system. Where are the responsibility and accountability? The fat cats wanted to be paid in gold when they performed. But if they failed to perform, all they lose is the job. Is this an equitable formula? Gambling on billions of other people's money, risking other people's money, with only huge gains when the bet is right and nothing to lose when they lose? I sure love to be in such positions. Is it time to revisit such a sure win formula for success?