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Is this what the OWS crowd is fighting for? Suckers!!
For instance, the Energy Department this fall guaranteed $1.4 billion loan for solar companies NRG Energy and Prologis to install solar panels.
But it wasn't the solar companies applying for the subsidy -- it was Bank of America, through the Financial Institutions Partnership Program created by the stimulus bill, which asked -- and received -- this taxpayer-funded gift from the Obama administration.
Taxpayers will repay B of A if this $1.4 billion solar investment doesn't pan out.
But what are the odds of a stimulus-subsidized solar venture flopping, right?"
What is needed is a stockholders revolt. When the market crashed in 2007/8, GE crashed from $50 per share to $5 a share and then crept up to a range between $15 and $20 to this day. Meanwhile the top 7 officials were being paid from $11 to $22 million for those years and 2009. In 2009 a proposal was offered for a stockholder vote to subject the executives to a Stockholders Advisory on Executive Compensation. Needless to say the Execs urged us to vote against it. Needless to say I voted for it.
In 2007 the top CEO of Goldman Sachs was paid around $34 million. In 2008 the salary was raised to over $70 million. At the 2008 GS stockholders meeting the stockholders outraged that the top three executives all had salaries above $65 million voted 43% for a Stockholders Advisory on Exec. Compensation. While not a win, it was close enough to scare the CEO salary in 2009 to be lowered to around $26 million. IN 2010, I had a very hard time trying to find out what the CEO salary was for that year. Cowards!!! STOCKHOLDERS, REVOLT!! Keep government out of your corporations, do it yourself!!