17 January 2008

Stan O'Neal's Retirement

This is the way to get fired!!!

There's this guy who lead a bank down a path that resulted in a $7.9 billion exposure to bad debt. He "retired" and is given $131,400,000 in retirement benefits and $5,400,000 in compensation.

If I remember correctly, one half of America makes less that 25K a year. Lets use the middle number of 25K, not the 50% of the people below it, as the number to put this in perspective.

For someone earning 25K a year, it would take 5,472 years to make the money this "person" was paid to leave the company and stop jeopardizing consumers and the world economy. Read more about Stan O'Neal's retirement from Merrill Lynch here.

A touch more perspective: On September 10, 2001 it was announced that the DoD was "missing" $2,300,000,000,000 (92,000 years at the same calculation) in just 365 days. That didn't get much play because of 9/11. Each year we find out about trillions more "missing" from our government. Why not hold our representatives and agents responsible? That would mean that Social Security would not be in jeopardy, everyone could have health care, and we could stop blaming immigrants and gays for the country's woes.

Don't believe any of the stuff I am telling you. Please look it up and do something!

What are your thoughts?

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