Re:The Decade’s Biggest Bonuses (Surprise: No.1 is not from ...
by anamax on Tuesday November 03, 2009 @05:46PM
(#920450)
> Police are public employees, their pensions have to be paid when the time comes regardless of how badly their pension fund has been raided. Ditto for teachers. And so on and so forth.
You write that like it's a law of physics or something. It isn't. There's absolutely no reason why public employees can retire using 401(k)s and the like. In fact, a lot of them do get much of their retirement benefits from 403(b)s, which are basically the same as 401(k)s.
In fact, pension funds, both public and private, are a huge mistake because underfunding and raiding can be, and is, hidden for decades.
When financial institutions stumble in a long term sense, it directly affects the future financial security of millions of people. Taxpayers are then liable for large sums of the, essentially, pilfered resources. Police are public employees, their pensions have to be paid when the time comes regardless of how badly their pension fund has been raided. Ditto for teachers. And so on and so forth.
We should start thinking of CEOs as individuals who have been tasked with stewarding some amount of wealth, rather than individuals tasked with the running of a company. This is because Apple represents USD216 Billion in wealth. This wealth needs to be well managed, or there will be repercussions in the future.
I don't know, that's just my two cents.