Image via WikipediaPresident Obama said today that every company who gets a taxpayer bailout (excluding those who already are on the dole) will be held accountable in several ways, not the least of which is to set CEO salaries no higher than $500,000!
To most of us average tax payers, this makes solid, common sense. Too bad the Bush administration did not make the same requirement for Citibank, AIG etc. when they received the first of these bailouts.
However better late than never I say. The same goes for infrastructure spending! With the Retirefunds of many now cut in half in some cases, it is imperative that these projects both in the USA and Canada start immediately.
But what about the Futures Exchanges like the Nymex and CME and Options Exchanges like the CBOE and ICE that have accommodated the selling of Trillions of dollars in Derivatives, every day, to the point where there is almost 4 times the value in Derivatives sold around the world, than the value of the underlying stock!
After all, isn't this the main reason for the financial meltdown?