US Financial Crisis: No Limits on Executive Compensation?
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Code : ECC0021
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Region : US |
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Introduction: Not very long ago, executives of financial industry were celebrated, by media, for their fat pay cheques. Business magazines prepared compensation indices on a regular basis and the new business graduates dreamt of such high pays. Naturally, high-flying executives of financial industry caught public imagination and were deemed protagonists. However, celebrity status is all but perpetual. Not surprisingly, in 2008, theWall Street bailout invited brickbats from the public and the intelligentsia. A placard outside the Wall Street displayed – "Why Does America Have to Bail Out These Greedy Money Hungry Scum?"3 Most placards carried similar slogans like 'No Blank Cheques for Wall Street', 'Bail OutMain Street, NotWall Street', 'Our Hard-Earned PensionsAre Not Up For Grabs', 'Impeach! No More $$$ for Lies!' and 'CEOs Bailout Yourselves'. |
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