Ex-Citigroup CEO Charles Prince will walk away with a $100 million severance pay package for his part in the $ 13 billion and counting, subprime mess at the bank. He's the latest example of the non-logical policy of paying big cash awards to failed leadership in the executive suites, which include ousted CEOs at Time-Warner, Home Depot, Merrill Lynch and Freddie Mac.
Will there ever be a return of meritocracy? I predict that if this is the best performance that money can buy then the future winners and survivors will be based on a non-monetary system, E.G. barter system, religious and/or tribal groups. These systems/groups can't afford to lose.
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