Apr 6, 2009
Big banks and investment funds sucked money from the real economy, using it to speculate – until their bubbles burst.
The biggest speculators protected themselves, however. A very small study by the Wall Street Journal found “fifteen corporate chieftains of large home-building and financial services firms,” who each banked more than a hundred million dollars between 2003 and 2009.
That’s well over one and a half billion dollars – in the hands of only 15 individuals!
All told, the Journal found over 21 billion dollars given as “compensation” to executives and directors – and that’s studying only 120 companies.
That sort of “compensation” rightfully belongs to everyone thrown out of work by the collapse of these thieves’ economy. As for them, they deserve an entirely different kind of “compensation” – like, 20 to life!