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CEO’s Plunder and Steal from Employee Pension Accounts

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We the people, are witnessing an era of historical significance and which will bear dire consequences for us and especially for our children in the future. With a recession going full force and a great depression quite possibly on the horizon, corporations and government are going about it as business as usual.

Is your financial future secure?

Is your financial future secure?

These two groups go hand in hand and are buddies in these times of great uncertainty. They are both run, in most instances, by the wealthy and rich. The average citizen nowadays cannot compete against a millionaire or billionaire who wants to be a political figure to satisfy his or own vanity.

It is because of these two groups being so friendly with each other that they each protect each other. We all do that for a friend, we stick together and help each other.

But, in this case, it has great implications on our society and the “peoples” well-being. There is no actual policing of or enforcement of, or concern from the other as to how each operates their respective entity.

Case in point, a recent article the AARP Bulletin, January-February 2010, stated that,

“While many companies are cutting back as the recession makes a dent in profits, it appears some corporate executives won’t be sharing the pain with lower-level colleagues come retirement time.”

“That’s because their companies continue to funnel big money into executive stock options even as they reduce contributions to employee pension plans, according to a report published by the Analyst’s Accounting Observer and summarized by the Council for Institutional Investors.”

“In 2008, S&P 500 companies with pension plans provided their top execs $44.5 billion in stock grants and options. Meanwhile, they contributed just 39.5 billion to the pension funds for the rest of their employees.”

“The biggest offenders are financial services companies, which handed out $2 in stock and 30 cents in stock options to executives for every $1 they gave their employee fund.”

by Michelle Diament

Who's stealing your financial future?

Who's stealing your financial future?

Didn’t the government give the financial services industry/companies billions of dollars in bail out money? What have they done with all that money? Where is the accountability to “we the people” who loaned them our money? Smoke and mirrors if you ask me.

It’s all smoke and mirrors to cover up how the back office deals and talks lead to these dog and pony shows to fool the public into believing it’s great and noble act to help out and bail out a company full of irresponsible and greedy men. To me there is no difference in the executive in these companies as a burglar or a thief, they are of the same ilk.

When will “the people” have had enough of this corruption? I hope soon before it’s too late.

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