One of my favorite movies is a dark gangster movie starring Joe Pesci entitled Eight Heads In A Duffel Bag.  Pesci, a mob courier is hired to transport the heads of eight murder victims to a mafia boss to prove that the hits had in fact taken place.   Unfortunately and comically, the duffel bag becomes mixed up with a similar bag of a college student who is off on vacation.  Pesci tries to find a way to get the heads back and what follows is a series of misadventures and hilarious incidents, as the heads keep turning up in unlikely locations such as an industrial clothes dryer.  Yes, I said it was dark but my kind of humor.
 
Recalling this movie led me to believe that what with the current state of politics and the financial downturn we are experiencing, it may be time for some additional heads to roll!
 
Let’s start with all the mortgage executives who encouraged people to take out loans without even verifying the income or resources of the borrowers.  People were led down a crimson path somehow believing that their modest incomes would allow them to occupy homes well out of their economic reach.  The loans were structured so that the first couple of years were within reach of their income.  Once the higher interest rate was triggered, the mortgager usually ended up in default but by then these predator lenders had made their commission and had moved on to other victims.  Time for their heads to be placed in a duffel bag!
 
Moving on let’s not forget about the dreadful decisions made by Wall Street executives who despite internal information to the contrary, kept informing investors that all was well.  Now we have the government and of course us taxpayers, bailing out these monetary moguls.  Most have been able to keep their well-padded salaries and their lack of remorse or responsibility does not sit well with the general public.  Open up another duffel bag for their heads!
 
And while we are on the subject of parasites, let’s not forget the mental giants at AIG, the giant insurance company.  After a bailout of billions of dollars from our benevolent government, executives of AIG along with what was characterized as “top performers” who steered business to AIG,  were feted to a spectacular couple of days at a top resort in Monarch, California.  Congressional reports indicate that over $23,000 was spent at the spa alone!
 
My recent call to AIG confirmed the details of the soirée, however the representative stated that “no AIG management benefited from the spa”.  Quizzing the rep as to whether or not the AIG execs had pedicures provided an indignant “no” response.  I guess asking the rep if she had examined their feet for signs of a pedicure would have been a stretch.  In any event, I think a solid case for more heads to roll and find a place in my duffel bag is not out of the question!
 
My purpose in suggesting that heads should roll is not to be construed as an attack on what some would consider extravagant salaries.  I am not a proponent of class warfare.  And in my opinion, placing limits on salaries or even instituting a tax on windfall profits discourages productivity, something our nation excels in.  What does concern me though is when high salaried executives engage in deceit, malfeasance, or just bad decisions and they are allowed to maintain their salary and perhaps trigger a “golden parachute”.  Case in point would be AIG executive Joseph Cassano who earned $280 million over eight years, then left the company in March 2008 and was slated to receive $1 million a month through the end of the year.  It would be counterproductive to dispute his salary but shouldn’t there be some consequences for the CEO when a company fails.  Frankly, I think there is a special place in my duffel bag for his head!
 
Now that our government with their largesse has provided huge cash infusions to many of these companies,  I think it is incumbent upon our representatives to establish strict and measurable goals for the executives.  Failure to meet these mutually agreed upon goals should result in immediate termination with no severance pay or golden parachute.  What with the high unemployment in our nation, I am confident that there will not be a lack of qualified candidates to fill these roles and agree to the terms.  And as a final incentive for these execs to succeed, a subtle reminder that there’s always additional room in my duffel bag may suffice.