miércoles, 24 de septiembre de 2008

The New (Cowboy) Version of Capitalism

The party is over for this compensation for CEOs who take the golden parachute as they drive their companies into the ground. ... The party is over for financial institutions taking risks [and] at the same time privatizing any gain they may have while they nationalize the risk, asking the taxpayer to pick up the tab.-- Nancy Pelosi.

Pelosi's words echo -as the NYTimes puts it- "the popular outcry ... over the prospect of Wall Street's tarnished titans walking away with tens of millions of dollars a year while taxpayers pick up the bill." A new twist to the crisis: CEO's are worried they may not leave shameful Wall Street richer! They claim that putting limits on their paychecks warps innovation.* High-risk-taking is crucial for economic growth!** Meanwhile the White House is desperate to bail out Wall Street. We (THE PEOPLE?) witness GWB riding the country into social annihilation. Let's sink further into poverty while "innovative" CEOs walk away dancing with millions in reward packages! Is the party really over?
*In the 1970's a CEO's pay was about 35 times that of the average American worker. Under GWB's reign, the same CEO makes 275 times more money than the average Joe. **For cowboy economics, "risk-taking" really means professional negligence.

17 comentarios:

Anónimo dijo...

Teatro en Miami Studio anuncia su próximo estreno: “Los Acosados” de Matías Montes Huidobro.

Los Acosados de Matías Montes Huidobro, autor cubano exiliado y uno de los más importantes dramaturgos y estudiosos del teatro cubano. Los Acosados obra teatral en un acto escrita en 1959, cuenta la historia de un matrimonio y la vida moderna; las compras a créditos y las angustias familiares.

“Es una drama de la cotidianidad” – comenta Ernesto García, director, escenográfo y músico de la puesta – “Los acosados es un cuestionamiento reflexivo sobre las posesiones. ¿Somos poseedores de bienes materiales o son ellos quienes nos poseen, nos moldean y finalmente nos abandonan cuando morimos?”.

Este es un proyecto que viene del 2004, cuando Ernesto García escribió y dirigió el documental “Raíces Aéreas: Dramaturgos” y pretendía acompañar la presentación del documental con dos obras teatrales en vivo: “Los Acosados” de Matías Montes Huidobro y “Sombras” de Leopoldo Hernández. Por problemas de tiempo y presupuesto solamente se pudo llevar a escena la segunda, acompañando el documental.

“Creo que es importante montar obras de los autores cubanos exiliados” – señala Sandra García, actriz y presidenta de Teatro en Miami – “En nuestro teatro se han presentado desde el mismo comienzo lecturas dramatizadas, homenajes y otras actividades encausadas al reconocimiento de la literatura dramática cubana”.

Proyectada para ser estrenada el 3 de Octubre. “Los Acosados” cuenta con las actuaciones de Christian Ocón e Ivette Kellems, actores de Teatro en Miami Studio conocidos por sus trabajos anteriores bajo la dirección del propio García.


Anónimo dijo...

Off with their heads!

La Mano Poderosa dijo...

Prudence, ACCOUNTABILITY, responsibility, and old fashioned COMMON SENSE is required. Live within your means, by the sweat of your brow, and use your own money and not others. I'ts an old ethical lifestyle, but it works...
Stop dreaming and face reality, the Bi-Partisan GREED must end.
And put the train back on the track, and proceed slowly and straight!

La Mano

Soy feminista dijo...

Bravo, Alfredo. Succint & to the point.

Anónimo dijo...

Capitalism sucks 'though i love it, hue, hue !


Anónimo dijo...


Anónimo dijo...

Estoy de acuerdo con McCain. Hay que dejar de hacer campania y enfocarse en rescatar la economia.

A.T. dijo...

Bienvenido, Papaskinel, que blog tan loco tenés

Anónimo dijo...

I think is fine they make big bucks, however only insofar as they make the company better as promised, if they don't then they should be copell to give that money back. What tha' heck...Do a good job or else pay back! There has to a reward for exellence, and we expect the best out these guys, however the economy, there has to be a level of compromise...don't you think?

Anónimo dijo...

Yeah! CEOs should be treated just like major league managers.

You get dropped after two or three losing seasons... BUT, no severance, no farewell party.

Rewarded if you make it to the playoffs.

Kaching! Katching! if you make it to the world series.

JR dijo...

Alfredo, this a known story about an unwanted romance: http://www.youtube.com/watch?v=xE1_l3RQhxs

JR dijo...

American woman, I said get way
American woman, listen what I say
Don't come hanging around my door
Don't want to see your face no more
I don't need your war machines
I don't need your ghetto scenes
Colored lights can hypnotize
Sparkle someone else's eyes
Now woman, get away
American woman, listen what I say
American woman, stay away from me
American woman, mama let me be

Anónimo dijo...

Las bolsas no acaban de confiar en la efectividad de las medidas anunciadas por Estados Unidos para aliviar la crisis crediticia y de confianza. Así, por segundo día consecutivo, los parqués europeos han vuelto a registrar números rojos tras el cierre de ayer en negativo de Wall Street a la espera de conocer el resultado de las negociaciones entre republicanos y demócratas en el Congreso.

enemigorumor dijo...

Y somos tan pobres que apenas si nos enteramos de lo que esta pasando,representamos numeros de cantidades hechizadamente despreciables...

Anónimo dijo...

Inquietante lo que dice el cientifico.

Anónimo dijo...

Es natural, al nacer un sol, se tiene que morir...

Anónimo dijo...

from jodi dean's i cite blog
(http://jdeanicite.typepad.com/i_cite/); her commentary between the dashes (----) :

Wall Street Pay? wtf?
Excerpted from: In Bailout Furor, Wall Street Pay Becomes a Target - NYTimes.com.

Wall Street, its lobbyists and trade groups are waging a feverish lobbying campaign to try to fight compensation curbs. Pay restrictions, they say, would sap incentives to hard work and innovation, and hurt the financial sector

----umm...are they on drugs? the financial sector is already in the toilet. Their fucking incentives have led not to all sorts of wonderful excellence and achievement but to a giant sink-hole of waste, debt, and greed.----

and the American economy.

“We support the bill, but we are opposed to provisions on executive pay,” said Scott Talbott, senior vice president for government affairs at the Financial Services Roundtable, a trade group. “It is not appropriate for government to be setting the salaries of executives.”

----But it's appropriate for taxpayers to pay the salaries of the greedy fucking evil pigs who have been stealing our money and destroying our future? It's appropriate for them to get bailed out when regular people who made poor choices get screwed to the wall? How about a better solution for Wall Street executives: off with their heads.----


In 2007, the total compensation of chief executives in large American corporations was 275 times that of the salary of the average worker, the Economic Policy Institute, a liberal research organization, estimates. In the late 1970s, chief executive pay was 35 times that of the average American worker.

Wall Street has been the top tier of the corporate pay range, with executives earning eight-figure salaries. Its bonus system, which rewards short-term trading profits, has been singled out as an incentive for Wall Street executives to expand their highly profitable business in exotic securities and ignore the risks.

“This financial crisis is a direct result of the compensation practices at these Wall Street firms,” said Paul Hodgson, a senior analyst at the Corporate Library, a governance research group.