I don't like that part either.
It's just that, without this bailout-- not designed to bail out CEOs, but rather, to restore the confidence of the industry by offloading its toxic debts-- the consequences could be even worse than what we are currently experiencing. So, the situation here is having to choose the lesser of two evils.
I suppose the details on the bailout could be debated. It certainly is on Capitol Hill, and is the reason why the bailout is being delayed.
For what it's worth, many CEOs and key market players involved have also lost substantially. But perhaps it still doesn't help to see certain CEOs get away with millions for apparent failures.
Update: The bailout didn't pass.
Last edited by Broken Arrow : 09-29-2008 at 12:27 PM.
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