THE BLOG
01/04/2009 05:12 am ET Updated May 25, 2011

Top Execs of Bailout Companies Should Have "Skin" in the Game

"There are 3 great things in life: dogs, doughnuts and money.
But, money is even better. Wanna know why? Because money don't
make you fat or poop all over the rug. But, there's something even better
than money. Wanna know what it is? OTHER PEOPLES' MONEY".

(Danny DeVito in"Other Peoples' Money")

Top executives of firms coming to us taxpayers for bailouts should, as a condition of the bailout, be forced to invest a reasonable part of their own fortunes that they have made at their company in the company's stock.

For example, Mr Wagoner's (quite a name for a car executive!) salary over the past 8 years must have been cumulatively in $100+ million range. If he thinks our money can reverse his company's slide, let him put a very substantial portion of his wealth at stake by investing it in GM along with our taxpayer money. Let his other top executives make similar prorata investments.

The same requirement should apply to the top executives of Citigroup and AIG, and other of the big bailees. If it is a good enough investment for us, why is it not a good investment for them?

If the top executives believe so strongly in their companies' future with these bridges, let us all become Missourians and say, "show us". That is, "show us the money".

George Bush sent other peoples' children to the Iraq War; neither of his children, nor any member of the Bush family volunteered. Neither of Dick Cheney's children volunteered. With no skin in the game, and the conscience of a reptile, Bush lost more than 4000 American families their sons or daughters forever, and another 30,000 will suffer the effects of injuries and psychological trauma for decades. If their own daughters were to be in the frontlines, how much more careful Bush/Cheney might have been before lying us into war, or rushing to throw out UN inspectors before they finished their jobs.

Bush also cost us taxpayers a trillion or more in direct and continuing costs for the Iraq debacle alone. He shall retire on a very comfortable pension, paid for by you and me.

We can, and should, appreciate Alan Mulalley's $1 a year salary offer.

It is not enough.

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