Heck, when you own the government, you can write the rules. It doesn’t matter whether it’s a Democrat or Republican in office because they’re all in the pocket of Wall Street. Obama cashed in on Wall Street money in 2008 and now Romney is doing the same this year.
It’s a fixed game and political class has campaign money to raise so no questions will be asked. The most highly paid Wall Street CEO in 2011 was Henry Kravis who received $30 million, closely followed by his co-CEO George Roberts at $29.9 million. Heads they win, tails they win.
Kravis and Roberts, 68, lead a list of 50 financial CEOs whose compensation collectively rose by an average of 20.4 percent in 2011 — a year when most big banks and brokerages saw their revenues, profits and stock prices plummet. The 2011 pay rise followed a 26 percent increase in 2010 for CEOs who held the same job in both years.
In a comparison of 2011 financial CEO incentive pay against stock returns over three years, Citigroup Inc. (C) CEO Vikram Pandit, who was awarded $15 million in 2011, ranks as the executive who provided the least shareholder value. That award is being reconsidered after shareholders rejected it.