Greed is not good Mr Gekko

01/16/08 06:08 AM

More layoffs coming from CitiBank thanks to the continued fallout from the subprime housing market collapse. So people down the ladder are laid off while the executives who got their companies into this mess continue to leave companies with golden parachutes that ensures they will never have to work for the rest of their lives. This is a load of garbage and simply put people need to be held accountable for bad decisions.

Who wouldn't want to be a CEO of a major company today? No matter how many bad decisions you make or what effect you have on shareholder value you are ensured of leaving with a package that is worth millions of dollars, sometimes hundreds of millions of dollars. The executives who made these bad decisions should be shown he door without any parachutes...just leave you're fired !

The reason that the subprime housing mess started in the first place as greed. Greed by investment arms of banks anxious to package these and sell them off in bundles fueled more companies to make more loans to people who obviously should not have been given loans. These people now are walking away from their properties losing equity and the dream that one day they could own their own house. It's enough to make you sick.

Congress, instead of looking at steroids in baseball, needs to investigate the whole subprime mess and hold those accountable criminally liable. That is an issue that affects us all not athletes who bulk up on injections. It seems that Gordon Geko from the movies Wall Street was wrong; greed is not good !