Self-Serving Executives Are No Surprise
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I’m not at all surprised that executives backdate option grants (“Backdating Is Seen as Option in Tech Realm,” Sept. 10).
Executives are in the business world for themselves first, and public trading of companies’ stocks is mostly a thinly disguised mechanism to allow executives and directors to profit from inside knowledge and favors.
What I don’t understand is this: If large fund managers have no protection against option abuse, how can politicians and economists support throwing individual 401(k)s and Social Security into this shark pool?
At least in Vegas you have some idea of what the house percentage is.
Danila Oder
Los Angeles
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