mage67 (mage67) wrote,

Silly thought of the day

Large companies give ridiculously huge salaries and bonuses (sometimes worth hundreds of millions of dollars in a single year) to top executives (even if they fail miserably) because they want to attract the very top talent. At least that's the reason that's given. That's the reason conservative congressmen don't want executive salaries being compromised and one of the main reasons the proposed $700 billion bailout package is being delayed.

The danger of having less than the most talented and skilled executives at the helm could be catastrophic. Then again, these are the same guys who caused the worst financial melt-down in my lifetime that threatens to collapse the entire world-wide financial system. So should I imagine that mediocre executives who only get paid a few hundred thousand dollars per year could somehow do worse? How could that happen short of them somehow launching nuclear missiles?

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