CEO compensation up 800 percent

http://www.mslaw.edu

1500 US firms engineered their financial engineerings between 2002 and 2005, and yet when a company restates their earnings, do the executives who earned huge bonuses based on false financials give those bonus back? Former Vanguard CEO John Bogle joins Lawrence R. Velvel, Dean of the Massachusetts School of Law to discuss his new book "The Battle for the Soul of Capitalism"

The full interview is available at http://tinyurl.com/33wyzh. The Massachusetts School of Law, 2007. Massachusetts School of Law also presents information on important current affairs to the general public in television and radio broadcasts, an intellectual journal, conferences, author appearances, blogs and books. For more information visit www.mslaw.edu. MSLAW podcasts are available from http://mslaw.libsyn.com/rss.

Category:

News & Politics

Tags:

• ceo
• workers
• ethics
• bogle
• velvel
• profit
• investor
• smart
• video

[guyNbluejeans]

Some of the biggest scumbags in the country are CEOs. I worked at a company for 18-years and was thrown out with hundreds of other "little people" while the new CEO was handed $6.4 mill by her board cronies after only being on the job for 6 months. She had the savvy to recoup the $ by firing us and replacing us with desperate people that would work for much less. THAT's the type of thing these pigs are about. Now the stockholders will love her because they'll see the bottom-line (but not us...).

[noleftorright]

Big government. Yep. The bank bailout? Just like playin Texas holdem. Except they go al in everyhand and lose but the government keeps giving them a marker to keep going! Its easy to go all in with someoneelses money.

[danboone143]

As I see it, the CEOs are big wheel gamblers using other peoples assets. No matter how they roll the dice, the CEOs win. They take huge risks because it isn't their money.

The winners are the CEOs and their buddies, the losers are the workers at these companies who have to suffer layoffs, pay cuts, increased demands for productivity with lower pay to cover the losses of the big gambles.

Now the taxpayers are being asked to cover the losses, I think it's time to stop the madness.

[gariddle]

What he is saying is that CEO's are being paid too much eventhough the company they oversee fail. Also that the middle class worker suffers as a result.

[vuxfeon]

The point he's making is firms are owned by the shareholders, not the CEO's. And that shareholders are having less and less say these days on CEO pay,since CEO'S have lobbied the goverment to chnage rules to favour themselves. He personally hates CEO's in mutual funds because all they do is chew up the profits without ever beating the market anyway...

[Rexanglorum]

The speaker seems to believe in the labor theory of value or one of the many variants of that theory. The idea is that pay is supposed to be based on merit so he believe that ordinary workers should be paid more and CEO's shoud be paid less. The fact is that firms are willing and able to pay a low wage to certain tyes of workers and they have to pay other types of workers much more money to be able to hire them.

[1oneundergod1]

hell is full of elites who hold all the spoil

that thier greed despoiled

money is not a measure it is a chalange,it chalanges the length we will go to get it,

then binds us to what in reality is only paper

issued on credit by 12 bankers,who to thier credit have convinced us it has a worth beyond mere printed paper

yet the only way to pay it back is via money[they control, or prostituting your time and labor to serve thier evil will, in conjoining with thier other [further destructions]