Congress must keep a watchful eye on bank executives

Posted: Wednesday, June 24, 2009

I recently heard that some of the banks that received a bailout were returning the money to avoid salary regulations of those running the banks. It was touted that this was a bad idea since it might lead to flight of the "best" people in management. Of course, we must remind these pundits that it was those "best" people who caused the huge economic downturn that we are in, and they continue to be rewarded while throwing thousands, and tens of thousands, of their fellow Americans out of work and out of their homes.

I think we need to listen to our heads and think, "Who would drive these companies to the advantage of the many? Who knows that $500,000 a year in compensation is enough?" These are the types of individuals we need running the companies. The ones currently in power are sending jobs and money offshore as fast as they can, laughing all the way to that far off bank. Just let them go!

Congress, who should be working for us, must keep the reins tight on the heads of these paragons of virtue.

Marilyn Jackson


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