Wednesday, April 26, 2006

Not feeling sorry

I've been watching this Enron thing for awhile now and I've posted before on the income both of those men made selling off their company stock before the place imploded.

Lay earned $106M, mostly in stock and options, in 2000
says Lay earned $106 million in 2000. That goes a long way toward making me feel a whole lot less sorry for the "poor man". And he seemingly bemoaned the fact that if he liquidated any of the stock options that he's still have to pay the 33-35% taxes on it. Even if he paid all the tax (which I really doubt) that's still $68 million dollars for one years pay!

And as I think about it how many of the people hurt by the implosion (setting aside for the moment the people ... the working class people who lost their jobs), the "investors" where really middle class people and not rich people who are now whining and crying that they lost their money investing in the company? I feel sorry for the middle class people and the working class and the people who lost their jobs and their retirement savings. But the rest of the rich people can go spit (I have no idea what that means or how insulting it is since it seems to be a Southern thing, but it seems about as vehement as I feel - which is some but not a lot)


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