Here is something to chew on. Are Chief Executive Officers of large corporations and financial institutions really worth the tens of millions of dollars they pay themselves each year? Or are they raping the public and economy? Are they just a bunch of good-ole-boys feeding their own greed?
Years ago Japan had a formula in place by which a CEO could earn a cap of some multiplier of the lowest paid person in a company. I don’t know if this is still the case. There are some current data for Germany. Twenty five years ago the ratio of top earner to bottom was about 20 to 1. So a person earning, say, $25,000, per year could expect the company CEO to earn no more than about $500,000 a year. But something has changed. In Germany now, the ratio is more like 200 to 1; so the $500,000 cap has become $5,000,000 a year.
Frankly, I do not believe anyone is worth 10 or 15 or 20 million dollars a year. I don’t care what company they head. It is my opinion that the CEO’s and Boards of Directors in this country have become so inbred that they have lost touch with ordinary people. They serve only themselves, really.