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VIDEO ESSAY: The Faces of the Financial Crisis
The U.S. financial system faces a grave crisis as investment giants teeter on the edge of collapse. These institutions aren't merely made of paper and percentages, though. They're led by people - people who've made some rotten decisions in recent years. Whereas we'll hear much in the coming weeks about the federal regulators who are scrambling to avert a disaster, we should also hear about the CEOs who got very rich while their firms crumbled.
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down the ladder
The economy must move on despite the financial crisis in which making it weak and sick. Some businessmen love to face higher risks amidst the economic crisis. What could be the right investment in the coming year? Financial forecasting helps a lot and should be managing well to face business risks. While more people are trying to reduce their spending and save money, it seems the executive class that helped create the current recession that so many of us are suffering from are trying to be rewarded for their indiscretion. The Wall Street Journal reported in a recent article that Merrill Lynch CEO John Thain is looking for a $10 million bonus payment. The sad part is, this took place after the company he was hired to run had almost completely ran out of cash and was facing bankruptcy. It was in such a desperate situation that he was forced to sell the company to Bank of America to keep the corporation alive. “Nothing less than shocking” is what the New York State Attorney General Andrew Cuomo called the situation. The average person, like you and me, would never be rewarded for such a failure. In fact, most people would get fired for far less. Those at the highest position should be given the same treatment as those of us down the ladder. Click to read more on Payday Loans.