Retirement Assets of 100 CEOs Equals Combined Retirement Assets of 41% of American Families

Submitted by Mike Krieger via Liberty Blitzkrieg blog,

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The following speaks for itself.

From Fortune:

The retirement assets of 100 Fortune 500 CEOs are worth more than the entire nest eggs of 41% of American families, a new study shows.

That means the 100 largest CEO retirement accounts—which totaled $4.9 billion last year—would equal the total saved by 50 million U.S. families, according to a report that was jointly published by the Institute for Policy Studies and the Center for Effective Government.

Now here’s the truly egregious part of all this…

“The CEOs’ extraordinary nest eggs are not the result of extraordinary performance,” said Scott Klinger, director of Revenue and Spending Policies at the Center for Effective Government, in a statement. “They are the result of rules intentionally tipped to reward those already on the highest rungs of the ladder.”

In fact, CEOs will quite often still receive enormous payouts even after wrecking their own companies, or engaging in highly questionable, if not criminal, behavior. Here are a coupled of recent examples:

United Airlines CEO Walks Away with $21 Million Exit Package After Resigning Due to Corruption Probe

Rewarding Failure – Volkswagen CEO to Receive $32 Million Pension

And let’s not forget the golden parachute received by Presidential candidate Carly Fiorina after cratering Hewlett Packard. See: Carly Fiorina’s Business Record Is At Least As Bad As Donald Trump’s.

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  • Bad management can never be logically explained by financial bonuses, unless deliberate.

    To deliberately reward bad management is like showing appreciation — something which could never be accidental.

    ‘It is difficult to get a man to understand something, when his salary depends on his not understanding it.’ ~ Upton Sinclair.

    But it’s not all that difficult to understand when corruption has occurred.

  • MrLiberty

    If you do not understand the role the Federal Reserve policies, money creation, interest rate manipulation, etc. play in promoting this, please educate yourself. If you do not understand the role the existence of 401(k)s, IRAs, etc. plays in delivering a never-ending stream of cash to Wall Street then please educate yourself. The Ludwig von Mises Institute website is a great place to start. Thousands of free articles and even books to read on the subject of central banking, etc.

    Indeed, this is CRONY capitalism at work – NOT FREE MARKET CAPITALISM. And BOTH major parties support every aspect of it in one way or another. Truly the only difference between the two major parties is which cronies they deliver the goods to.