Except that most of the people don't think the bankers and CEOs truly earn it.
Reader comment on: Steven Rattner on Income Inequality
Submitted by Lyle (United States), Jun 9, 2010 15:27
Many regard the CEOs as having lap children for compensation committees that do just what they want. Bankers threaten to leave at a drop of a hat for doing better moving the deck chairs on the Titanic around. Most people think that if you can set your own pay then it is better styled as gets, not earned. It gets back to a question of justice does a CEO earn 40x the average worker or more? Or do they take it because they can get it.
Note: Comments are moderated by the editor and are subject to editing.
The Future of Capitalism replies:
Agreed but probably a good deal of the "income" that Rattner is complaining about isn't so much CEOs with compensation committees but owner-managers who started and grew high tech companies or hedge funds or entertainment companies. You can argue that in a public company the shareholders should get a bigger share of the compensation and the management less, but the shareholders always have the option of selling their stock, or not buying it in the first place.
Other reader comments on this item
Comment on this item