Many [CEOs behind the financial crisis] still have influential roles in creating the economy today. But we are the crazy ones to treasure them, right? "
It is a snapshot of a Saturday competence from Rep. Alexandria Ocasio-Cortez, and it is not the first time, or probably the last, that the Democratic Congresswoman will cast out social influence in politics, executive compensation and where they cross. 1
The Newman legislator, who considers himself a democratic socialist but becomes a socialist much of the time, was rediscovered a CNBC article capturing how Buffett told room for shareholders at his annual Berkshire Hathaway
recalls that if a bank needs a state rescue, the managing director should lose his net worth .
Here is the full AOC tweet and article link:
Buffett answered a question about Wells Fargo
– of which Berkshire is still a significant shareholder, despite a recent reduction – and its former former CEO John Stumpf (even the Stumpf replacement has since been replaced) . Stumpf was removed during a scandal over a thousand false accounts created by merchants to face high-pressure quotas.
The possibility of failure in one of his firms, or within Berkshire, has been one of his biggest dreads, Buffett being raised early May.
But Buffett said, "If a bank comes to where it needs public assistance, the responsible managing director should lose his net worth and his spouse's net worth."
When such a situation occurs, "it is the shareholders who pay," he added.
AOC's sympathies on Saturday continued: "It is still important that the CEOs who crashed our economy + led millions of people to lose their homes, not just escaped handcuffs but also received bonuses."
More than 1 , 2 million households were lost in the recession, according to a report by the Mortgage Bankers Association in 2010 looking at data between 2005 and 2008. The worst of the crisis expanded to 2009.