A company on the brink of bankruptcy – near constant financial losses, billions in taxpayer dollars down the drain, and a CEO unable to turn things around – maybe even making matters worse.
That could easily be AIG, GM, Chrysler, or a host of other American companies suffering through the financial crisis – but it could just as easily be the United States government. But their appears to be a double standard when it comes to the top executives of each organization. While congress is attempting to enact punitive – and illegal – taxes on the bonuses of AIG CEOs, and while the President has used his [self-granted] authority to force out GM head Rick Wagoner, he remains comfortably in the oval office, filling out NCAA brackets, and hatching the plan for the next election cycle.
If Obama wants to hold CEOs to a higher standard, that’s fine – but he better be prepared to either meet his own requirements, or explain why they don’t apply, come 2012.