Tuesday, September 30, 2008

Restoring Confidence in Financial Markets

If people go around selling quack medicine, the law will be after them faster than you can say "Jack in the box". Selling contaminated products have the same consequences. Selling products that don't work have the same consequences. This is the way to restore confidence in consumers.

Announcements that portions of salaries paid out to all the individuals involved in the mismanagement of the financial system will be recovered including those who came up and sold all these so called complex sophisticated products is the quickest way to restore confidence in the financial markets. If not, more of this will follow. Many are saying, stop the blame game. Exactly, action has to be taken to immediately to start the recovery of salaries and bonuses paid out. So how much money should be recovered? Do you think they deserve to be paid more than the cleaners and the garbage collectors? At least the cleaners and garbage collectors contribute to society by keeping the city clean. Would you pay them if they left behind an even greater mess behind.

Some say that the CEOs deserve their pay. When it comes to work, everybody yells "teamwork". When it comes to pay, let's yell out "team pay".

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