CEOs steal from your 401(k)

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oilboy123

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Greedy Bastages............
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This kinda stuff needs to be nipped in the bud. I don't have a problem with rich people getting what they deserve. But pilfering everyone's 401(k)s is just too much.......

It would not be so bad if they made a ton of money. But when the performance of the company or bank sucks, then they should not.


http://articles.moneycentral.msn.com/learn-how-to-invest/how-ceos-steal-from-your-401k.aspx
 
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Wealth needs help.

Don't worry, the money will trickle back down..............to the guy who sells these [censored] holes a multi-million dollar yacht.

Now, can you imagine the level of pathology that would go on from CEOs and bankers if they had NO ONE to watch their moves?

Many of these people are nothing but thieves, thugs, and barons, and they basically do nothing but falsely inflate the value of the companies they run (into the ground) for their own gain, and everyone else's cost.

People like Bernard Maldoff, with the amount of destruction, pain, and loss they create, should get life sentences.
 
Originally Posted By: Drew99GT
...People like Bernard Maldoff, with the amount of destruction, pain, and loss they create, should get life sentences.


I disagree.
 
Originally Posted By: Drew99GT
Wealth needs help.

Don't worry, the money will trickle back down..............to the guy who sells these [censored] holes a multi-million dollar yacht.

Now, can you imagine the level of pathology that would go on from CEOs and bankers if they had NO ONE to watch their moves?

Many of these people are nothing but thieves, thugs, and barons, and they basically do nothing but falsely inflate the value of the companies they run (into the ground) for their own gain, and everyone else's cost.

People like Bernard Maldoff, with the amount of destruction, pain, and loss they create, should get life sentences.


I agree with you on pretty much all of that.........I still can't believe Madoff gets to run around as much as he does. I don't know if Madoff should get life, but what he does get will probably not be enough.
 
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Quote:
"But their pay has caused far more systemic ills, said Sarah Anderson, the director of the Global Economy Program at the Institute for Policy Studies, a liberal-leaning think tank."


Just so you know where I'm coming from: I really dislike this current culture of generic hatred of people in corporate leadership. This article and the majority of posters here seem very prejudiced on this issue. Even the title of this article is misleading…..as if they are just plain stealing. This article implies theft…….and draws conclusions about a bunch of ills unrelated to the 401K. While I do agree once the gov. starts buying companies via asinine "bailouts", sure we have the right to limit leadership pay. But the government purely limiting executive pay of private companies? Hello???

Dudes. Again - read your USA history ca 1930-1940.

Sure there are crooks aplenty out there - they should be body slammed. This has zero to do with Made-off. I don't see why you aren't griping more about the current gov. - they certainly have caused much more hits to my 401K than corporate management. The stereotyping ALL corporate leadership as the same, or even the gov. setting some kind of screening as to fitness is indeed a very slippery slope.
 
The previous Admin caused the mess. The current one, they are trying hard to make sure that the economy does not hit the #@tter. Since you mentioned 30-40 years. When the 1929 crash happened, the Dow Jones dropped from 381.17 to 198.69. It took three years before the market hit the bottom. The Dow Jones hit 41.22 on July 05 of 1932 a drop of almost 80%. If the previous admin understood conservative economics, they would have put a lid on the expansion of credit. As for 401K, people need to start taking responsibility for their actions. Many people moved their money within their 401k from stocks to less volatile funds that invest in Treasury bonds when they saw the incompetence of the previous admin.
 
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Originally Posted By: wavinwayne
Originally Posted By: Drew99GT
...People like Bernard Maldoff, with the amount of destruction, pain, and loss they create, should get life sentences.


I disagree.


So they should continue being allowed to sit in their plush Manhattan apartments?

Do you realize that even charities lost everything to Maldoff?
 
Billy, just so you can fill me in-

I've never heard of 'conservative economics?' What are these? And have you heard of Keynesian Economics?
Are you aware of market cycles?

Last time I checked the Fed determined interest rates, not the white house or the legislative branch. So I'm not quite sure this is any administration's problem. However the steps taken can certainly influence the duration and extent of market cycles. At this point in time we really can't tell the previous from the present administration in their approach to deal with the current downturn.

But I do agree, people need to start taking responsibility for their actions.

Pablo- you nailed it.
 
Originally Posted By: Billy007
The current one, they are trying hard to make sure that the economy does not hit the #@tter.


I had not noticed. Neither has the market.

The reason I brought up history - this gang seems to be channeling that past with precision. News Flash: It didn't work.
 
Nonsense article. A real stretch. Makes a good headline though. Plenty of blame to go around. Don't forget the repeal of the Glass Steagall act in 1999. Before that was repealed the mega- banks could not exist.Citibank for example. Who signed this into law? Bill Clinton.
 
Originally Posted By: Drew99GT
Originally Posted By: wavinwayne
Originally Posted By: Drew99GT
...People like Bernard Maldoff, with the amount of destruction, pain, and loss they create, should get life sentences.


I disagree.


So they should continue being allowed to sit in their plush Manhattan apartments?

Do you realize that even charities lost everything to Maldoff?


I didn't say HOW I disagreed. I think life in jail is too good for Bernie. Use your imagination.
wink.gif
 
Originally Posted By: genynnc
Billy, just so you can fill me in-

I've never heard of 'conservative economics?' What are these? And have you heard of Keynesian Economics?
Are you aware of market cycles?...


I was referring to the Austrian school of economics (Frederick Hayek, Ludwig Von Misses,..). Keynesian Economics was the basis of FDR policies. Whenever the market forces hit a snag, Keynes is called to the rescue. As for market cycles, they are a normal occurrence of our economic system. What is not normal, is to have a prolonged cycle with devastating economic consequences. Nikolai Kondratieff did a good job explaining market cycles. If you need to read a great book from an austrian economist with some great insights, consult the Causes of the economic crisis and other Essays Before and After the Great Depression by Ludwig Von Misses
 
Originally Posted By: PandaBear
Glad that my 401k was all in cash since 2006.


While the Causes of the economic crises is a collection of articles published between 1919 and 1946. The foreword and new material was added in 2006. The Ludwig von Mises Institute recognized that the material was relevant as early as 2006. The smart people saw it coming between 2005-2006.
 
The headline is complete garbage.

Quote:
Experts on both sides of the executive pay debate advise shareholders to "vote with their feet" and sell stock in companies where executive pay looks extreme.

YES. If you turn your money over to someone else to look after, then you take the bad with the good.

Don't like overly compensated execs? Do your own stocks and don't buy their products.

This is simply more pap to spur class envy.
 
Quote:
Sure there are crooks aplenty out there - they should be body slammed.


I'm waiting? Do you see RAW raiding the corporate offices to serve arrest warrants?

Quote:
This article implies theft…….and draws conclusions about a bunch of ills unrelated to the 401K.


The League of Distinguished Gentlemen have been happily milking the worth out of everything and getting fat doing it.

Ultimately, what good have they collectively done anyone beyond themselves and their back scratching fellow scum?
 
I don't think so. The corporate heads all support each other in approval of compensation packages. They don't really have to earn them. The retirement package of the clown (?) who ran THD is a good example.

You'll never make the list of these people's country club consideration list, Pablo. Why you can't see the club of people that, who are so divorced from our plane of existence, we're merely a means to an end to them. It's effectively highway robbery and they do it in plain sight.

And you want to pat them on the back.
 
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