People with power to make important decisions that increase their own wealth, but bear little responsibility for the results.
14 posts in this category
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...
Read MoreLast 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 MoreThe 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 MoreThere 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...
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 MoreAs 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...
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 MoreSome 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...
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...
Read MoreIn 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 MoreRecent 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...
Read MoreMy 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...
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