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this post was submitted on 05 Dec 2024
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chapotraphouse
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Oh fuck off. What fucking risk? A CEO could completely tank a company and have a Golden Parachute waiting for them once the board gets tired of them. Jail for "mistakes they don't know about"? How many CEOs are in jail in America? Even then, they'd get put in cushy, minimum security prisons.
That's a great question. My wild guess is that about once a decade an insanely wealthy CEO goes to prison. Is that wildly wrong and way too optimistic?
Being that the defendant as no criminal record...
They might as well say "Being that the defendant is in the 1% of the 1%..."
It's a bit off-topic but actress Felicity Huffman was involved in an SAT scandal where she was clearly guilty. The entire thing made me laugh She ended up in the "slammer" for 10 days. In other words - she went to a country club prison. I googled it and I learned the place even had a piano. Her husband William H. Macy never even faced charges.
Varsity Blues scandal - Wikipedia
I love the final sentence of the section. You can see that she really learned from her experience.
Not to mention, once you make it to that tier, getting fired isn't the end of the road
Do you know how many failed CEOs get to keep failing as a CEO or CFO elsewhere after? Just do some digging on your current one, odds are good they got canned at some point prior to 'working' at your company
Someone replied to him asking how many CEOs have gone to jail under the very law he cited and he just straight up said I dunno, I haven't heard of any.
Never mind the fact that if job pay was linked to risk (including getting killed) pizza deliver people would be out here getting $10m worth of stock options in Domino's.
Just completely unthinking tripe dressed up as economic insight.
The "risk" that the executives will become working class and have to get a normal job. The horror!
yea thats what they all did in 2008
Hey, you might become the 1 in 10000 who get scapegoated like Madoff (still have to touch rich people money though)