Ashkan Karbasfrooshan

Sirius, GM, AIG: Where Is the Leadership in American Boardrooms?

There's another dynamic, as well.

Whenever someone even raises an objection or criticizes a company or executive... you see shareholders in that company cry foul. Occasionally, management comes out, as well, and attacks the critic. The point is, usually the person doing the criticism has nothing to gain or lose, but those defending the company have a lot to gain if the stock goes up. With their positions entrenched, they are too emotional and attached to think objectively. Sometimes I wish I would have sold a stock sooner myself instead of holding on, blindly trusting management.

Anyway, you saw that when an analyst raised red flags on Citigroup, or previously, Overstock. Both turned out to be right.

My point here, basically, was that these are all poor sectors to begin with, and you have elaborate corporate development deals or requests for government interventions that simply are not necessary or unfair to the average American citizen.

- Sirius/XM was tying two rocks and hoping it would float.
- The Big Three have had problems that have nothing to do with this economic downturn, etc.

Why not defend the industries, companies, and executives? No... too hard. Much easier to attack the critic.

No wonder then that most American investors have lost massive amounts of wealth while the perpetrators of these actions are retiring with millions.

It's a shame. Instead of attacking the critics, why not focus on those who are wasting shareholder money and destroying jobs?