banks got bailed out

thooru-chan  asked:

Have you heard about Nintendo's CEO Iwata lowering his own salary and the other directives', to make up for the bad sales? Do you think anyone will get the hint iin other companies?

Yes, I did. (For those who didn’t, here’s the story.) He’s not the first Japanese CEO to act like a decent leader and hold himself accountable for business decisions. I think Japan’s culture is very different from ours (understatement) and sadly, I don’t think his good example will spread to CEOs in America. A lot of our unemployment problems have been fueled by CEOs and other executives deciding to lay off huge chunks of their workforce instead of lowering their own wages. There’s no impetus for them to change that behavior. Banks that got bailed out by the U.S. government, paid for by the laid-off workers from those other companies, gladly handed out multi-million-dollar bonuses to executives and no one batted an eye.