Friday, August 14, 2009

Greed

From a recent news story: “BOSTON (Reuters) - Taking his private equity firm public paid off big for Blackstone Group LP's Stephen Schwarzman, who became the top-paid chief executive in the United States last year. But the surest route to big bucks was running an oil or natural gas company. Their CEOs represented seven of the 10 highest-paid U.S. CEOs in 2008, according to a report by independent research group The Corporate Library.” Schwarzman was paid $702 million last year. That’s close to two million dollars per day. Does this not seem just a bit odd? How much do sugar cane farmers in Cuba make? I bet you Schwarzman thinks he deserves it. He is beguiled. hehehe. Capitalism is ok, but one annoying problem with it is that NOBODY can ever tell you how much is too much.