Boo Hoo in the Boardroom

>“This is America. We don’t disparage wealth,” Obama said. What Americans won’t stand for, he said, are “executives being rewarded for failure,” especially when the taxpayers are doing the rewarding.

An unusually sensible thing for a president to say. Broadly appealing, yet so smart.

You know, if they're having such a tough time staffing C-level positions at these companies for 500k/year, I'll just have to make a huge personal sacrifice and take that CEO job at General Motors.

I have no idea how execs around the world always manage to create the illusion that there is a shortage of their skills.

It's easy, I suppose, when the economy is doing well, since executive failures can be covered up.

I can only hope that the rest of the world will use the current crises as proof that many of these people didn't know what they were doing and consequently that maybe their jobs are not as impossibly hard as they would to portray.

I'll quit my startup and work as one of these execs too -- I have no experience at all running a large financial firm, which means that I have a chance of getting it right while every current financial executive has a strong track record of utter failure, incompetence, and outright fraud. So I'm clearly the better candidate -- there's at least a chance I won't screw this up!