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Posted by: quackpot 1 year, 3 months ago
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quackpot1 year, 3 months ago
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The problem is the entire U.S. business model is heavily weighted toward SHORT TERM PROFIT.
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If a CEO makes a good short term profit, he/she is very well rewarded.
If a CEO makes a bad decision, he/she is also rewarded via the golden parachute.
In the current system, companies such as FannieMae/FreddieMac provides profits for good decisions, while the U.S. tax payer pays the cost of bad decisions.
With this system, there is NO incentive for risk management. Indeed, a CEO who plays a conservative game will be quickly left behind by the aggressive players.
Golden parachute plans should be rejected by stock holders, if not made out-right illegal.
Government guarantees should be TOTALLY rejected as a normal business model. In times of crisis such as this one, the Government MUST, of course step in with as stabilizing hand.-
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mark-stevens1 year, 3 months ago
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Houses were being sold to anyone, illegals, unemployed, criminals. I saw local TV ads $300,000 homes $475 a month the first 5 years. No social security number, or proof of employment, or anything.
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How many people were swinging hammers during the housing boom. Add
making lumber, concrete, roofing, sales of houses, and so on. A nice smoke screen for outsourcing.
How many jobs were shipped overseas and nobody noticed.
Watch the current unemployment skyrocket.
If we get another four years of rewarding companies that outsource we are all heading to Mexico for work. -
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