Tuesday, January 8, 2013

It's the CEOs, stupid!

Thanks to hikingartist.com for the image.
Blogger Gaius Publius argues that money flows through a corporation to the CEO's pockets the way beer flows through you on a night of drinking to -- well, you know where it goes.

He believes the role of the corporation changed from making shareholders moderately wealthy to making CEOs obscenely wealthy. In a recent AmericaBlog post, he writes,
Modern corporations serve one function only — to make the CEO class obscenely rich, even at the expense (that’s a Bain link) of the corporation itself (yes you, Carly Fiorina). Thanks to the incentives in the post-Reagan tax code and the capture of Boards of Directors by the CEOs themselves, controlling the modern corporation — being the Jack Welsh of your world — is a straight path to big-league power and wealth. You’ve arrived. 
As I’ve said many times in a number of ways:
Corporations loot the nation.
CEOs loot the corporation.
CEOs then buy everything on earth they want or need.
In the western world, the corporate controlling class lives higher than the kings and presidents who serve them.
Read the whole thing here.