The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Executive Pay:
It’s a Secret!

Aug 17, 2009

Good news for the executives in seven taxpayer-bailed-out companies! The Obama administration will help them keep the amounts of their pay and bonuses a secret. Because, of course, they are entitled to their “privacy.”

These companies include GM, Chrysler, GMAC, and Chrysler Financial. Before the bailouts, the workers – who had nothing to do with running the companies into the ground – saw their pay, benefits, and pensions endlessly dissected in public, when they weren’t outright inflated.

On top of that, these workers’ taxes were used to bail out the companies, propping up their profits and executive bonuses.

We may not know the dollar amounts, but we certainly do know who is taking – and who is being taken.