FreePasser™
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In business and government, a FreePasser™ (sometimes known as a FreeRider) is a person or group of people with the power to make important decisions that have the potential to increase their own wealth, advancement and/or power, but bear little or none of the long term responsibility for the results of those decisions.
FreePasser™ is a trademark of Channel Partnership I, LLC
Recent Posts
AIGBailoutBanking
The G-20 Summit: Beware the FreePassers!
The G-20 summit was a true public relations success. Despite low expectations, the spin at the close of the conference promoted the concept that there was a consensus among the nations that participated. The FreePasser Issues Still Remain! However, d...
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Goldman Gets the Message!
Last week Lloyd Blankfein, the CEO of Goldman Sachs, gave a speech to a group of institutional investors in which he called for new pay standards and regulation of hedge funds and private equity groups. Back to the Future When it comes to Wall Street...
Read MoreBailoutBankingEconomic Stimulus
The True Cost of Government Bailouts
The main justification for all the government bailouts seems to be that the economy cannot survive without them and, that if properly handled, the desired result can be achieved with minimal if any cost to the taxpayer. The Example of the Resolution ...
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Bankruptcy Before Government Bailouts
There has been tremendous anger over government money being used to pay bonuses to executives in many of the companies receiving government bailouts. We saw this recently in the cases of American International Group (AIG) and Merrill Lynch. The amoun...
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The AIG Bonuses: FreePassers Gone Wild!
I have noted before that the FreePasser epidemic has permeated every aspect of our society. However, the recent disclosures of the use of government bailout money for bonuses at American International Group (AIG) astound even me. It turns out that th...
Read MoreAccountabilityBankingEconomic Stimulus
A Solution to the Financial Crisis: Require Insurance Before the Bailouts
There is a passionate discussion going on about the government bailout and its costs. Some say that there should be no bailout, and that the the taxpayer is being unfairly stuck with the cost. Some believe that the financial system should be allowed ...
Read MoreAccountabilityFreePasser™Government Regulation
Modify the Mortgage Plan to Stop FreePassers: There Must Be Pain!
As I mentioned in one of my earlier posts, President Obama has proposed a plan to assist mortgage borrowers suffering from falling home prices and unaffordable monthly payments. It would allow those with minimal or no equity to refinance their mortga...
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A Question About the Economic Rescue Plans: Who Picks Up the Tab?
The government has announced plans to rescue the banking system, to stimulate the economy, and to prevent mortgage foreclosures. These programs have generated many questions regarding their implementation and efficacy. However, the really big questio...
Read MoreAccountabilityFreePasser™Government Regulation
Government Accountability in Action: The New York City Police Department
Some people have claimed that accountability in the public sector is even more difficult than the private sector because of the degree of bureaucracy involved. This is the primary reason that many are pushing for increased privatization of government...
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The Obama Compensation Limits: FreePassers Not Allowed
President Obama announced that he wants to impose compensation limits on executives of companies that receive government financial rescue funds. His proposal includes the following provisions: A $500,000 cash cap on annual compensation for senior ex...
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Trust in Banks and the Congressional Pig Roast: FreePassers in the Beltway
Although my last several posts have focused on FreePassers in corporate America and on Wall Street, we also find an abundant number of them in government, especially in Washington, D.C. Trust the Banks: One of the Greatest Lies in History When the or...
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Bloomberg Communications: The Gold Standard for Accountability in Bonuses
In my earlier post, I discussed the need for accountability in compensation and used the old partnership structure as an example of how Wall Street was held accountable in the past and could be in the future. This generated questions as to how to hol...
Read MoreAccountabilityHeadline NewsMoney and Finance Today
$1 Million Offices, New Corporate Jets and Other FreePassers on Wall Street
Recent headlines hitting the news over the last several days indicate that the FreePasser epidemic is alive and well on Wall Street and in corporate America. However, the scale of some of these abuses amaze even me. The $1 Million Office CNBC reporte...
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The Wall Street FreePasser Problem: Accountability is Still the Answer!
My initial entry on the FreePasser epidemic afflicting our society seems to have accomplished its purpose, which was to increase awareness and to generate a thought-provoking reaction. This is designed to be a forum to discuss the problem and to gene...
Read MoreAIGAccountabilityAuto Industry
FreePassers and the Salvation of Capitalism
I’m not an opportunist by nature. Although the current economic crisis seems the appropriate time to launch my FreePassers.com blog, I assure you that my study of this phenomenon has been ongoing, and its contribution to today’s state of affairs was ...
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Doug Roberts is a regular Contributor to AOL's Money & Finance section, specializing in reporting on and interpreting Fed policy.
In The Media
Doug has become a familiar face on CNBC and the Fox Business Channel, and is called upon by the financial press for his insights.
Publishing
"Follow the Fed to Investment Success" was published by John Wiley & Sons in April 2008.