On Executive Compensation & Wealth Transfer

Today’s QOTD:

“Middle-class America experienced a lost decade in their retirement accounts, whereas executives enjoyed record compensation packages through the subterfuge of stock option programs. There has been a massive wealth transfer from middle-class America’s retirement accounts to the bank accounts of the privileged few. The social consequences of this wealth transfer bear scrutiny.”

-Albert Meyer, Bastiat Capital (NYT)

For more on how executive compensation has run amuck in America, read Roger Lowenstein’s 2004 book, Origins of the Crash: The Great Bubble and Its Undoing.

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