Eat the Rich, Cont.

Living typo Steve Mnuchin and his villainess wife, Craven Moorehead

Barron’s tells us that our long, national emergency is FINALLY over:

Wells Fargo (ticker: WFC), the last of six big U.S. banks to release pay figures, said in a proxy statement earlier this week that CEO Tim Sloan got a raise. He earned $18.4 million in 2018, about $900,000 more than his total compensation in 2017 but far less than the $31 million pulled in by James Dimon, CEO of JP Morgan Chase (JPM).

“Overall, chief executives at the six banks earned more than $152 million in 2018. That eclipses the $141 million the same banks paid their top bosses in 2008—the year before banker pay tanked after the financial crisis.”

I mean it was embarrassing seeing all the CEOs in soup kitchens and breadlines, wasn’t it? Stand tall, fellow serfs!

So the Banksta-gangstas who tanked the global economy and ruined the lives of untold millions of people, and destroyed the prospects of a generation+, are—phew!—finally back on track to where they were in 2008. And yes, even the Wells Fargo dude who’s employees opened up fake accounts in the names of real customers (and ruined their financial lives in the process) got an extraordinary raise, you know, for a job well done. I would have given him a prison sentence.

Add this to the list of reasons that American meritocracy is bullshit.

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6 Responses to Eat the Rich, Cont.

  1. Bruce388 says:

    It’s great for everyone that the CEOs are doing so well now. They were clogging up the bread lines.


  2. laura says:

    Massive tax increases on excessive salaries and investment income, inheritance taxes and tax market transactions to wring the idle capital out of the soft palms of “our betters.”
    Grow government so big, robust and juicy that funds the New New Deal for the benefit of the public.
    If we need more cash, I’d stand in line to pay $5.00 to take a kick at the keister of Grover Norquist.

    Liked by 3 people

  3. Osirisopto says:

    At least they won’t “feel our pain”.


  4. Infidel753 says:

    Meritocracy? If capitalism truly rewarded people for the value of what they contribute, then medical researchers would be getting the eight-figure salaries, and guys like Romney and Trump would be begging for spare change on street corners.

    I don’t know what corporate CEOs actually do for those huge salaries, and I strongly suspect it’s not much of anything. I’ve worked at companies where the CEO position was vacant for six months or longer while an exhaustive search for the “perfect candidate” was conducted. The business of the company went forward with being visibly impeded in any way by the lack of a CEO. If the receptionist quits, they get a temp in immediately, because that job actually does something.

    Liked by 2 people

  5. Pyed says:

    Back when the world was young I was taught that the price of a commodity should be equal to the value the employer puts on the labor it took to create, but also that one should be paid according to the value of one’s labors to the society of which he is a part.

    So, if someone can convince the board of a corporation that their labors are worth 972 million dollars, so be it!

    Give it to him. (It’s bound to be a him.)

    Then tax the sucker enough to leave him with the amount of money equivalent to the value his labors are to the society in which he lives … say at about a 97 percentile tax rate.


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