Comments on: A Free Market Beheading http://www.fitsnews.com/2008/10/14/a-free-market-beheading/ Unfair ... Imbalanced Sun, 22 Nov 2009 04:24:32 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Joseph Reynolds http://www.fitsnews.com/2008/10/14/a-free-market-beheading/comment-page-1/#comment-38314 Joseph Reynolds Tue, 14 Oct 2008 13:17:16 +0000 http://www.fitsnews.com/?p=6958#comment-38314 BUt you miss the fact that true capitalism is totally absent from the picture you have painted. Please show me where you get rewarded for failure in capitalism? The practice of paying bonuses for actions that had short term gain and long term consequences ultimatley led to the collapse. Throw in the huge compensation plans for senior executives, where even the number 5 guy is making over $10 million a year, that are indexed without any relationship to actual impact on the company, then finish it with golden parachutes that encourage executives to work on a 3 to 5 year horizon to encourage their ultimate "removal". Throw in the fact that being removed only opened the door to move next door in the continual merry go round of executive leadership where the borads are all comprised of rival executives who look out for each other, knowing that the guy they just "removed" sits on their board.. With those dynamics, how can you talk about "free market economy" with a straight face? BUt you miss the fact that true capitalism is totally absent from the picture you have painted. Please show me where you get rewarded for failure in capitalism?

The practice of paying bonuses for actions that had short term gain and long term consequences ultimatley led to the collapse. Throw in the huge compensation plans for senior executives, where even the number 5 guy is making over $10 million a year, that are indexed without any relationship to actual impact on the company, then finish it with golden parachutes that encourage executives to work on a 3 to 5 year horizon to encourage their ultimate “removal”.

Throw in the fact that being removed only opened the door to move next door in the continual merry go round of executive leadership where the borads are all comprised of rival executives who look out for each other, knowing that the guy they just “removed” sits on their board..

With those dynamics, how can you talk about “free market economy” with a straight face?

]]> By: Ian http://www.fitsnews.com/2008/10/14/a-free-market-beheading/comment-page-1/#comment-38299 Ian Tue, 14 Oct 2008 05:26:19 +0000 http://www.fitsnews.com/?p=6958#comment-38299 But socialism, ever the watchful nanny, has taken the economy by the hand, leading Americans away from the only thing it has known - the very thing that made it great - and toward a dependence the likes of which lies just off the Florida coast. But socialism, ever the watchful nanny, has taken the economy by the hand, leading Americans away from the only thing it has known – the very thing that made it great – and toward a dependence the likes of which lies just off the Florida coast.

]]>