Roger L. Simon

Baliout: No Big Payout for Twelfth Rate CEOs

I was watching Face the Nation this morning and even Republican Richard Shelby of the Senate Banking Comm. seemed to be looking askance at these seventy million dollar payouts for CEOs of failed banks and financial institutions.  In fact, it’s disgusting. Sure, I’m for the government keeping its nose out of private business decisions, but these decisions are no longer private.  The federal government (we taxpayers) are about to bail out private financial institutions to the tune of a trillion dollars.  If these institutions want that kind of bail out,  effectively making tem government institutions , no way are these failed CEOs entitled to tens of millions of our money.  They’re lucky to stay out of jail.