Joe Kernen is a great guy but today he was very wrong. While discussing the salary of the Citibank CEO he invoked socialism as the doctrine that would require reduction of his salary. As the matter of fact, he is keeping his outrageous salary due to corporate socialism that is protecting rich and powerful non-performers. In capitalism, somebody owns a company and either runs it himself or employs somebody else. If the company goes south he loses money (too bad if he is in charge, if he employs somebody else, he is fired). But in public companies today, shareholders "own" the company but they gave all the power to the Board. The company goes south, everybody in charge has golden parachutes. They may fire workers but the big brass will collect what was protected with iron-clad contracts as their due.
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