Greed and Gall

Remember Lehman Brothers? … the firm whose demise in 2008 was the spark that led to the financial meltdown in the US and around the world. From 2000 to 2008, Lehman paid out $3 BILLION dollars in dividends to its investors and shareholders. Great. Capitalism at work. But at the same time, Lehman paid out $50 BILLION in executive compensation. In other words, salaries and bonuses to their CEO, Board of Directors, President, VPs, and upper-level managers. $50 BILLION is more than twice NASA’s annual budget. It is more than twice Honduras’ Gross Domestic Product (GDP). This is a “form” of capitalism. It is called greed. Before it went under, Lehman unsuccessfully sought a government bailout. It sought US taxpayer money to save it from the results of its greed. This is called gall.

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