A CEO Disgraced

It became publicly known with Kenneth Lay upon the collapse of Enron, passed through Carly Fiorina of HP after a 50% drop in revenue and the layoff of 20,000 people, and most recently was unjustly denied to Daniel Mudd and Richard Syron of Fannie Mae and Freddie Mac. CEO’s have a self-evident right to award themselves tens of millions of dollars, even as the companies they lead are swirling around the porcelain. It’s in The US Constitution. It’s the American way. They work hard. The failure is always someone else’s fault and they should not have to suffer for it.

That’s why AIG former CEO Robert Willumstad is such a disgrace. AIG is on the verge of collapse, but will survive due to an $85 billion bailout from you, the taxpayer, by way of the Federal Reserve. Large corporations are what make this country great, and therefore it’s only fitting that we save this great national resource, much in the same way we would save the Arctic National Wildlife Refuge (ANWR) from oil drilling. We’re still doing that right?

But ex-CEO Robert Willumstad is spitting in the face of American capitalism. He has rejected a $22 million severance payment from AIG and in doing so has disrespected shat upon every American who aspires to the kind of wealth a CEO is entitled to have. Shame on you Robert Willumstad. Shame.

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One Comment

  1. Mike Killelea
    Posted September 22, 2008 at 1:51 pm | Permalink

    David - why do you hate America?

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