Bobbi and I are watching our 401 and 457 retirement accounts pretty closely these days. Like many people in our age groups we have religiously put a way a little money every pay day into these funds. Bobbi has always had a good head for what funds to put the money in and when to reallocate them into other funds as the market changes. However this current meltdown in the stock market has affected us to no small amount.
Every time one of these financial giants announces a multi billion dollar loss the nation's middle class takes it in the ear. I would like to see something similar start happening to the corporate Boards and CEOs of these groups. The Boards usually stay invisible on these things but they should be held accountable too. The CEOs shrug their shoulders, resign, and leave with millions or tens of millions or hundreds of millions of the share holders money.
The Boards condone these actions which are all brought on by the next quarter's 'bottom line' which they say the stockholders only care about. I wonder if that is really true. In many cases I don't think it is.
There needs to be accountability but there wont be. If we can't even get the New Mexico Legislature seriously interested about conflict of interest and accountability and ethics laws, then how can we expect corporate America to ever do so.