1. Petraeus vs Fuld
Today's Nederlog is a follow
on yesterday's The case of David
And I have today changed yesterday's file, namely by
replacing the textual quotations from Wikipedia with pictures
quotations, because I do not want all the links in the quoted text from
my own site: Clicking on the pictures on my site will lead you to
Wikipedia with all the links. (The images are of the Wikipedia aricle
as it was yesterday.)
1. Petraeus vs Fuld
I have looked a little more into "the Petraeus scandal",
it is now known, and found two interesting facts.
First, about the life style of military commanders
including lower ranking generals - and my source is "Petraeus
scandal puts four-star general lifestyle under scrutiny" in the Washington Post:
Of the many facts
that have come to light in the scandal
involving former CIA director David H. Petraeus, among the most
curious was that during his days as a four-star general, he was once
escorted by 28 police motorcycles as he traveled from his Central
Command headquarters in Tampa to
socialite Jill Kelley’s mansion. Although most of his trips did not
involve a presidential-size convoy, the scandal has prompted new
scrutiny of the imperial trappings that come with a senior general’s
me of the lifestyle of Stalin's generals, for which see Montefiore's
"Stalin - The Red Czar". It sounds corrupted and probably is: "All
power corrupts", as Lord Acton observed.
The commanders who lead the
nation’s military services and those who oversee troops around the
world enjoy an array of perquisites befitting a billionaire, including
executive jets, palatial homes, drivers, security guards and aides to
carry their bags, press their uniforms and track their schedules in
10-minute increments. Their food is prepared by gourmet chefs. If they
want music with their dinner parties, their staff can summon a string
quartet or a choir.
The elite regional
commanders who preside over large swaths of the planet don’t have to
settle for Gulfstream V jets. They each have a C-40, the military
equivalent of a Boeing 737, some of which are configured with beds.
Second, from the same article:
dollar as equivalent to 1.413 euros (which is what I found on the
internet) this works out as € 166.312, which is peanuts compared to
what Dutch bureaucrats and middle and upper management take home.
Compared with today’s
plutocrats, their pay is modest. In 2013, the base salary for a
four-star general with at least 38 years of service will be almost
$235,000, although federal personnel regulations limit their take-home
pay to $179,700. Unlike top civilians in government, top generals also
receive free housing and subsidies for food and uniforms. And when they
retire, those who have served at least 40 years get an annual pension
that is slightly more than active-duty base pay — this year it is
For example, the members of the board of directors in Dutch
universities receive € 223,666 a year,
which works out as $ 316,040 - and rest assured these folks
also have other perquisites. Also, the
quoted figure is the maximum as proposed in the Dutch Parliament, which
is the same as the
salary of the Dutch MP, but in fact many of these directors,
directors of simple colleges in Holand (which are not even real
colleges of education, but schools for intermediate or lower education
with inflated titles) receive considerably more.
In any case, a US four star general has less than 75% of the value of
quite a few Dutch managers of schools - at least in terms of such
numbers as I found on the internet. (*)
Then again, compared to Mr Dick Fuld, one
of "today’s plutocrats"
(<- with interesting video-link illustrating the quality of the
man) it follows that US four star generals take home virtually nothing.
quote from Business Week's "How
Much Did Lehman CEO Dick Fuld Really
Make?", from April 29, 2010:
In "The Wages of
Failure: Executive Compensation at Bear Stearns and Lehman, 2000-2008,"
Harvard Law professor Lucian Bebchuk; Alma Cohen, a visiting professor
from Tel Aviv University; and Holger Spamann, a Harvard Law lecturer,
calculate that Fuld earned $522.7 million from 2000 to 2007, only
slightly less than Budde's tally. The study found that Fuld earned
$461.2 million of that total from the sale of 12.4 million shares of
Lehman stock, more than the 10.8 million shares, including unvested
RSUs, he owned at the time of Lehman's bankruptcy.
Mr Fuld -
through his lawyer - did not deny these figures. So let's see the
comparative human value (as expressed in money, widely regarded -
certainly by many bank managers and bureaucrats ! - as the central
value by which one can measure all things) of a US four star
general and a US bankmanager:
8 * 235,000 : 522,000,000 =
= 1 : 277 approximately.
We live in a sick and absurd world.
Update Nov 20 2012: Corrected a typo and
inserted two links I forgot to insert
I do not know whether this should construed as a plea for
increasing the salaries of US generals, and indeed I am not American
I do know that the managers of schools and universities in
Holland currently earn
ten times more than they are worth, and should receive much less than
many of them do, and indeed return part of the incredible salaries -
paid from the Dutch taxes! - they have received, basically by theft.
They could appropriate the huge amounts they did appropriate because
the Dutch state pays schools and universities large sums to educate
their students, maintain buildings etc, and then the bosses and
managers, largely uncontrolled
since generations, started imitating the bank managers, on the pattern:
"If they can do it, we can!"
Also, I do know this is an illustration of the sick morality that has
been introduced by bank managers. For which see above.
(that I prefer
to call M.E.: The "/CFS" is added to facilitate search machines) which
is a disease I have since 1.1.1979: