These idiots will never learn: But why should they, when they keep getting away with it?
From The Business Insider, April 2, 2009:
Running the New York Stock Exchange isn’t quite the glamorous job it once was. Six years ago, the hue and cry against excessive pay of the NYSE’s chief—then Dick Grasso—rose up when it was revealed the board of directors had signed off on a $180 million pay package.
This year shareholders are once again objecting to excessive pay but the amount involved is much, much smaller. Duncan Neiderauer was paid $9.2 million in stock and cash, including a $4 million performance bonus. But at the annual shareholders meeting last week, the board found itself on the defensive. Neiderauer himself tried to defend his compensation by telling the audience that much of his compensation was in stock—which has sunk in value as the exchange suffered a $745 million net loss and saw its stock price fall by two-thirds.
“We try to be a leader in good governance,” he said.
Kenneth Steiner, another investor, blasted the board for agreeing to golden parachutes for Mr. Niederauer and three other senior executives. Under the terms of that agreement, Mr. Niederauer would be awarded $26.2 million if he elected to sell the exchange, which includes the company paying the taxes associated with his windfall.
“How does this benefit shareholders?” Mr. Steiner asked.
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And yet another one:
(CBS) CBS News investigative producer Laura Strickler reported this story for CBSNews.com
A flurry of federal investigations and news articles about Congressman John Murtha’s funding requests and campaign contributions has not stopped him from asking for $134 million in earmarks for his district this year, including $75 million for defense spending.
The Pennsylvania Democrat posted his requests on his Web site Friday morning.
In the introduction to his request, Murtha’s office notes, "Every request is properly reviewed and vetted through a lengthy and thorough process."
Four of the earmark requests from Murtha’s office are for current or former clients of a lobbying firm, the PMA Group, that is currently under federal investigation for connection to possible "straw" donations to Murtha and other Democratic members of the House.
PMA Group clients include: Advanced Acoustic Concepts ($5 million request), Argon ST ($8 million request), MTS Technologies, Inc. ($5 million request) and Planning Systems Inc. ($2.3 million request).
Two requests totaling $3.7 million are for Pennsylvania State University, but the Murtha's office says they are not intended for the Electro Optic Center (EOC) in Freeport, Pa. which has received millions in defense contracts and has been the subject of recent scrutiny by the FBI.
CBS News previously reported that the EOC requested $120 million in spending through Murtha's office and a source told CBS that employees were urged to donate to Murtha so the center would get favorable treatment.
While a number of entities with connections to Murtha are under federal law enforcement scrutiny, Murtha himself has not been named as the target of the investigation.
It gets worse:
Congress Approves Budget
$3.5 Trillion Spending Plan Paves Way for Obama Goals
By Lori Montgomery, Page A01
Congressional Democrats overwhelmingly embraced President Obama's ambitious and expensive agenda
OH, THIS IS A REAL JEWEL! CAN YOU BELIEVE THIS ONE
at 12:25 p.m.
Just a few weeks after retention bonuses at American International Group became a national scandal, Fannie Mae and Freddie Mac, the two mortgage-financing giants that the government rescued last fall, have outlined plans to pay an additional $159 million in bonuses to retain employees in 2009 and 2010, on top of the nearly $51 million already paid out last year.