ABC News reports on the masters of the universe, not as rich as they used to be, still way richer than the people who didn’t destroy the economy:
“It’s going to be very hard psychologically for these people,” Frank said. “I talked to one guy who had to give up his private jet recently. And he said of all the trials in his life, giving that up was the hardest thing he’s ever done.” […] The chairman of Lehman Brothers, Richard Fuld, still has his mansion in Greenwich, CT, his oceanfront estate on Jupiter Island in FL, and his Park Avenue co-op in Manhattan. Many at Lehman blame Fuld for dallying while his investment bank went bust, taking risks with other people’s money while he cleared over $40 million in salary and stock in the last year alone.
Of course it would hardly make a dent in the overall $700 billion cost of the bailout, but it seems to me that we should be seizing all the homes belonging to all the executives of companies in need of bailing out and selling them to raise some of the bailout funds. Maybe they could get real jobs and work for a living.