J.C. Penney to cut 2,000 jobs? This after they paid incompetent CEO Ron Johnson $50 million in stock just as a hiring bonus? The bonus itself would have paid these people’s wages for a year. Lucky for Ron, he doesn’t have to worry about being unemployed.
This is just one more example that there are no limits to the greed of the corporate elite, and no one to stop their rape of the American financial system. The federal government will not intervene, one-third of Congress is comprised of tea partiers who stubbornly cling to misguided opinions and are unable to have reasonable discourse. To try to compromise or reach consensus with them is to legitimize their wrongheadedness.
The remaining two-thirds are, like our own Legislature, willing to guide and promote the elite status of the corporate person. One can only hope that reasonable, thoughtful people, both progressive and conservative, can be elected to our state and federal governments. Maybe then there will be consensus that corporations are out of control and need intervention and limitation.