Quote:
Originally Posted by seafeye
After all the sham bankruptcies in 2005-2008. The top always seem to get a golden parachute. While workers lose jobs and retirements. Ship the jobs overseas save $1 on manufacturing and management receive bonuses.
|
It could perhaps be argued that those companies defrauded the government by making it pick up lost pension and comp liabilities, the private investors who were shorted out of a system which is supposed to distribute profits fairly but has a mandate to gain profit, the board was involved with insider trading and self-dealing, and the taxpayers who lost a ton of local jobs which stimulated the economy, and the company was subsidized by government.
But then again it's a 'private' system.