The Questions Never Asked the Bankers Yesterday...
I listened all day to the hearing with the bankers yesterday in the House. One question that was never asked by any Representative, "Your 2007 salaries and bonuses were between $4.87 million and $102.84 million, are you really 203 to 4,250 times more important to your company as the entry level teller or secretary in your firm? Please explain to the American people why you deserve so much compensation when you were responsible for this current mess in America. The entry level teller has never caused such chaos on Wall Street or Main Street?" This is part of the fundamental injustice in America. All American workers need a raise, and every top executive needs a huge pay decrease. If they will not do it themselves the federal government should go back to taking 90% of the salaries for executives who make obscene amounts of money. How many people could we employ or keep out of foreclosure or provide health care with the salaries and bonuses of the top executives of American corporations?
Here are some obscene numbers for you. These are salary and bonus figures from Forbes.com for 2007 (before the financial collapse).
Stumpf--Wells Fargo $12.84 million
Rohr--PNC Bank $18.39 million
Lewis--Bank of America $20.13 million
Mozilo--Countrywide $102.84 million
Blankenfein--Goldman Sachs $73.72 million
Mack--Morgan Stanley $17.65 million
Thain--Merrill Lynch $15.75 million
Dimon--JP Morgan $20.68 million
Kellinge--Washington Mutual $4.87 million
Posts by Northeast Ohio Coalition for the Homeless staff and Board.