People with power to make important decisions that increase their own wealth, but bear little responsibility for the results.
6 posts in this category
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 ...
Read MoreI 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 MoreThere 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 MoreThe 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 MorePresident 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...
Read MoreAlthough 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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