Barry Brand Levitra Online Levitra buy Ritholz, the author of the very popular financial blog, The Big Picture, has recently written a book, Bailout Nation.
I’ve buy levaquin not read the book, but I’ve followed his blog regularly.
He was one of the most vocal of the critics of Obama’s bailouts of the big Cialis no prescription investment banks. He worked in this field; so he has an insider’s clarity of view buy viagra online discount | buy cialis cialis | buy levitra online cheap that he brings to his criticism.
The following post from his blog today is on
viagra buy acomplia prices a timely subject, gives a flavor of his book, and cogently identifies a fundamental problem in corporate America today – but unfortunately with no sense of how this problem is going to be addressed. The current administration does not appear to have a clue or a will to tackle the fundamental failures of corporate America that are at the heart of our country’s Viagra Jelly decline. We are in dark Order Generic Accutane Online without Prescription days in America.
Compensation amoxicillin online Is the Symptom, Not the Problem
By Barry Ritholtz – June 11th, 2009, 10:55AM
Over the past few days, the compensation issue of senior execs buying generic propecia art big finance firms has been front page news. The Obama administration is even appointing buy viagra online pharmacy a “Comp Tzar.”
I find it amazing that at this late stage of the bailouts, how so few people — still — cytotec see the full picture.
A perfect example of that is the focus (even obsession) buy cialis pills on compensation. This is focusing on the symptom of an unhealthy6 corporate system, and not the underlying disease.
The true problem underlying the comp issue is corporate governance, and the way the Boards of generic propecia Directors fail to represent the interests of shareholders. The way they systemically engage in the buy levitra cheap online worst form of crony capitalism, transferring wealth Buy Erectile Dysfunction medications from shareholders buy online diflucan buy prescription drugs online without prescription they are charged with representing to the senior management Buy Levaquin Online Pharmacy No Prescription Needed they are cronies with.
Yet another excerpt from Bailout cialis where can buy viagra | buy cialis pills | levitra online low price levitra free Nation:
“We’ve nolvadex generic come a long way from the days when the man atop the organizational chart made 40 times cialis online what the person on the lowest rung earned. Over the past few buy ampicillin online decades, executive compensation
has exploded, with some CEOs taking 200, 300, even 400 times the base pay at the company.With Tadacip so much of this compensation made via options-based incentives, buy amoxil the bosses had every reason to swing for the fences. online levitra The upside was all theirs, and the downside was the shareholders’—and taxpayers’.
But don’t for a moment Cialis Professional think their terrible track record had a negative impact on
their compensation. Despite their performance, these CEOs were paid as if they buy online amoxil were enormous successes.
The compensation figures buy viagra online order that follow are enormous; th at they were p
aid for such abject failure is a national embarrassment.
It is also an indictment of three major corporate governance issues that have not been discussed widely enough. The first is the crony capitalism that was rife in boardrooms across the United States. lasix price The cronyism of major corporate levitra brand generic boards, especially those in the finance area, has become legendary. Rubber-stamp directors who rarely buck the chairman or challenge Buy Viagra the CEO are unfortunately all too common. These boards did not serve either their buy amoxicillin online companies or their shareholders well.
Also enabling this festival of greed are the large institutions that held the companies’ stock, most especially the big mutual Brand Cialis funds that have been AWOL when it comes to policing 424 buy viagra | where to buy cialis without prescription | order online levitra the senior management. They have the time, expertise, and incentives to do so; it is beyond levitra costs the capability of individual ampicillin online shareholders. Nolvadex Online Besides, it makes no economic sense for someone who owns 100 or 1,000 shares of stock to act as overseer and scold to corporate boards.
But it was squarely in the interest of owners of 10 million shares and up to do so.
Why the mutual fund complexes failed to protect their shareholders is hard to fathom. Perhaps when it comes to the online amoxil finance sector, they feared missing out on syndicate deals and hot IPOs if they asked too many questions.
Then buy cheap amoxil there are the so-called compensation consultants.
They did a horrific disservice to the shareholders phentermine as well as the companies. The role of these primarily ethicless weasels was to give cover for these ridiculous compensation packages.
buy levitra drugs generic female viagra I would love to see a review of the packages as written back then.
If Buy Viagra, Buy Cialis, Buy Levitra Without Prescription the online ampicillin compensation experts were members of an actual profession with standards and ethics, they would be drummed out of that profession. Instead, these people were merely tools used by the C-level execs order online levitra to transfer vast sums of wealth from the shareholders to themselves.
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