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Joe Lieberman is one luminous example . Remember the senator's display of moral indignation, wagging his finger and expressing disgust at Enron's fast-and-loose accounting practices? But Joe, Baby, did you forget? You helped loosen them! You remember Ken Lay, don't you, Joe? He's one of your campaign contributors, along with al those other Wall Street pals of yours who put a quarter-million bucks into your campaign pockets over the years.
Remember that bill that Ken and a bunch of other high-flying CEOs from the "new economy" wanted? They were running a little "stock-options" scheme that let them take tens of millions of dollars each out of their companies in annual pay, yet not report this to shareholders as a cost to the corporation. Mind you, those millions are in addition to their salary, bonuses, and other cash payments. (CEO pay packages are like a salad bar. First comes the base salary, which is the plain lettuce. Then they add on a dipper-full of blue cheese dressing, plus a rasher of bacon bits. Then they say, oh, what the hell, go ahead and put a cheeseburger on it too. The stock options are the cheeseburger.)
But those tiresome, regulatory knit-pickers over at the SEC thought investigators had a right to see this sizable shift of their corporate funds going to the CEO's pockets, so the SEC was going to require that stock options be accounted for on the books.
Fearing that investors (those pesky busy-bodies) might balk at such lavish outlays for CEOs if they saw them in black and white (or red), Kenny Boy and the rest came running to you, didn't they , Joe, shrieking that such disclosure would stifle executive ingenuity, would drive a stake through the heart of entrepreneurship, would cause the new economy to collapse, and would mean that they'd be so poorly paid they'd have to buy next year's Escalade without the sunroof. So you came to their relief, didn't you, Joe, by sponsoring a bill that forced the SEC to back off, letting CEOs keep getting their cheeseburgers without accounting for them. Yes, you did .
Thieves in High Places,
by Jim Hightower pp. 59-60
Brackets and their contents mine.
Like I've always said, there was something I didn't like about Liberman from the start. He's just too much like Bush, they are both in cahoots to the Enron's of the world. Funny, 70 million the total amount of bank robberies in this country this year, and the corporate scandals have robbed Americans for tens of Billions. Bank Robbers can get life in prison, but so far, these low-lifes have avoided prison, except for one, and if they do go to prison, they will usually get a couple of years in Club-Fed, for ripoffs often amounting to hundreds of millions of dollars.
Lieberman Sucks.
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