Know Thy Enemies: Corporate Overlords March On Washington

The Catfood Commission just will not die. Why am I not surprised? But you've got to love Steven Pearlstein's column this morning informing us all of the soon-to-come intervention of the "grownups in the room."

Some grown-ups who have been noticeably absent from this conversation have been the heads of the country’s major corporations, who talk a good game about deficit reduction but haven’t invested the time, money and political capital necessary to jolt the political system from its dysfunctional equilibrium.

That’s about to change. Last week, the first battalion of CEOs showed up in Washington, reporting for duty.

All hail our corporate grownup generals, who have marched on Washington to do battle with the "hysteria, histrionics and hyperbole." Aren't we blessed?

Digby gives us the 411 on our new generals:

David M. Cote J.D.
Chairman and Chief Executive Officer, Honeywell International Inc.
$37,842,723 annual compensation

Alexander M.(Sandy) Cutler
Executive Chairman, Chief Executive Officer, President and Chairman of Executive Committee, Eaton Corporation
$13,586,010 annual compensation

Gregg M. Sherrill
Executive Chairman and Chief Executive Officer, Tenneco Inc.
$5,750,640 annual compensation

Martin L. Flanagan
Chief Executive Officer, President and Executive Director, Invesco Ltd.
$13,420,458 annual compensation

Mark T. Bertolini
Chairman, Chief Executive Officer, President, Chairman of Executive Committee and Member of Investment & Finance Committee, Aetna Inc.
$10,556,335 annual compensation

Thomas J. Quinlan III
Chief Executive Officer, President and Director, R.R. Donnelley & Sons Company
$6,059,714 annual compensation

James Dimon
Chairman, Chief Executive Officer, President and Member of Operating Committee, JPMorgan Chase & Co.
$23,105,415 annual compensation

All of our generals are signature members of the US Chamber of Commerce, and they are very, very concerned about the national debt in this country. Not concerned enough to pay more taxes, of course, but still, they're adults and they're very, very concerned. A year ago, during the debt ceiling battle, they sent a letter to Congress, imploring them to do more to settle the Very Important Question Of Our National Debt, to no avail. Having been robbed of a victory then, or another opportunity to battle over the debt ceiling this summer, they have decided to revive the issue by becoming the Adults In The Room once again.

I don't know. I just can't imagine Jamie Dimon giving any thought to anyone in the below $1,000,000 compensation range, can you?


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