From Pine View Farm

The Entitlement Society 0

But, after all, they are Wall Street Executives.

They wear expensive suits, look good in meetings, and write nice memos.

They are entitled.

. . . after a year in which Wall Street firms paid $18.4 billion in bonuses while accepting more than $50 billion in government bailouts, many experts say the system may have finally blown itself apart.

“The system is broken,” said Warren Batts, former chief executive of Tupperware Corp., Premark International and Dart Industries who used to sit on the boards of Allstate Corp., Sears, Roebuck and Co. and Sprint. “It needs some guiding principles.”

Without such guideposts, executive pay has run amok. CEOs made 344 times more the average worker in 2007, according to a survey from United for a Fair Economy, which targets economic inequality. That’s up from less than 150-to-one in 1992.

Read the whole thing.


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