Why Are Execs of Bankrupt Companies Being Rewarded With Millions?
Today on the Brief: A followup on Tesla, corporate earnings and PayPal’s crypto ambitions New COVID-19 shutdowns in California Small businesses on the brink Our main conversation: Bloomberg has reported recently bankrupt companies...
July 15, 202023m 3s
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Show Notes
Today on the Brief:
- A followup on Tesla, corporate earnings and PayPal’s crypto ambitions
- New COVID-19 shutdowns in California
- Small businesses on the brink
Our main conversation:
Bloomberg has reported recently bankrupt companies including J.C. Penney and Hertz had provided executives with more than $131,000,000 in bonuses.
On this episode of The Breakdown, NLW examines:
- The logic behind these bonuses
- Why that logic is stupid
- How this sort of reward for personal failure in the wake of 2008 led to the rise of populism on the right and left
- Why we should allow companies to fail
- Why people’s sense that the system is a crony system isn’t wrong