freddie mac

The weird thing about Freddie Mac's CEO's paycheck
It's not that the guy "earned" almost $20M for last year when his company lost half its value, or even that he stands to "earn" that much this year when his company is a millimeter or two away from crashing the entire home-mortgage market, or even that he undoubtedly played an active role in the very strategy that brought about this dismal performance. Nope, the weird thing is that, in our advanced society, Articulate Rich People can produce high-sounding rationalizations to justify this Pay-For-Failure and that lots of Poorer People will suck up those rationalizations. Amazing. Associated Press via MSNBC

Posted By: Chuck | Date: Sat Jul 19, 2008 | Comments (0)
Category: Business

About Weird Universe

Weird Universe explores every aspect of a human and natural cosmos that is not only "stranger than we imagine, but stranger than we can imagine."

Suggest a Link — Are you a member? Log-in here.
Not a member? Consider registering. Or perhaps you've forgotten your password?

Search

All original content in posts is Copyright © 2008 by the author of the post, either Alex Boese ("Alex"), Paul Di Filippo ("Paul"), or Chuck Shepherd ("Chuck"). All rights reserved. The banner illustration at the top of this page is Copyright © 2008 by Rick Altergott.