Gross: CEO Crybabies – Newsweek

My sentiments exactly. Follow the link below and read the whole tawdry story.

Banks are profiting from low interest rates and the ongoing federal subsidies and guarantees. Even as the industry squawks loudly about demonization and tough regulation, banks just reported their best quarter results in three years, according to the FDIC.

But CEOs deserve most of the credit for this turnaround. When the economy slowed dramatically in late 2008 and early 2009, they prepared for Armageddon: they slashed costs, restructured, made cold and swift decisions, and relentlessly pursued productivity and efficiency. The result: America’s CEOs collectively reengineered their businesses so they could produce profits with a lower volume of business. They’ve also continued—and intensified—their longstanding practice of beating the living daylights out of America’s labor force.

via Gross: CEO Crybabies – Newsweek.

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