EllisUnit
Vote RED!!!
You said the companies got bailed out and turned around and gave their board members big bonuses yet you post 07 exec comp(not board members) figures and the bailout was in 08. Not to mention bonuses are paid early in the year for the year prior.
The 5 billion in bonuses weren't for the board or executive and at the time Citigroup had in excess of 300k employees. I was one of them and many employees had a significant portion of their total comp comprised of bonus. Mine at the time was 50% of total comp and it's much lower now as a percentage while my overall comp is much higher(this is actually worse for the company btw)
Also of the 70k in layoffs do you know what the cost of their severance package was? You don't have a clue how many of those folks were paid a great deal of them far in excess of 70k each paid in a lump sum which made them eligible to draw unemployment immediately.
I know very well what happened a citi through those times because I was there and like I said your ignorance continues because you don't understand.
Let me be clear on something, I'm not saying exec comp in excess is justified(that's a debate for a different time) what I am saying is that it is not keeping you from your comfortable living wage. Just because you work hard doesn't mean you should have a comfortable living for you and your family. Your comfort level for instance might have been higher if you didn't have 3 kids, that's your choice though not your employer.
My point was it is amazing how much money these people were given and then had to be bailed out the next year, also do you work in every single industry known to man ?
Here's another one for you, i suppose you worked here as your 3rd job as well
Bank of America only earned a total of 2.56 Billion Dollars in 2008 and paid out 3.3 Billion in bonuses to 172 of it's top employees. They were also given billions in 2008 as part of the bailout. All the while laying off 7,500 employees. How much was your bonus ?