The CEO of the average company in the S&P Index makes $10.5 million. That means that on the first workday of the year, he (sometimes she) has made more than the minimum wage workers in his company will make all year.
We await word from Citigroup, JP Morgan Chase, Wells Fargo, and Bank of America. My hope is that they will make sure that every dollar donated to earthquake relief gets directly to the people of Haiti.
We should give strong consideration to nationalizing the largest banks in order to run them like public utilities. We also should consider placing banking employees into the civil service system to end the ridiculous wage distortions.