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Thread: While Dominicans are poverty-stricken, Government officials live high on the hog

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    Default While Dominicans are poverty-stricken, Government officials live high on the hog

    "SANTO DOMINGO.- Some Dominican Government officials get paid 270 times more than the average, paltry RD$3,600 minimum wage paid to Government workers, according to a document which the newspaper Hoy obtained from several agencies.

    The base salary of the head of the Government-owned Banco de Reservas is RD$600,000, not including other perks taking it to $975,000 monthly.

    In that bank the managers make "an initial" wage of $180,000 and the directors get paid $300,000, plus perks and incentives,"
    Last edited by Robert; 01-14-2007 at 11:03 AM.

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    [QUOTE=vince1956;479397]SANTO DOMINGO.- Some Dominican Government officials get paid 270 times more than the average, paltry RD$3,600 minimum wage paid to Government workers, according to a document which the newspaper Hoy obtained from several agencies.

    The base salary of the head of the Government-owned Banco de Reservas is RD$600,000, not including other perks taking it to $975,000 monthly.

    In that bank the managers make "an initial" wage of $180,000 and the directors get paid $300,000, plus perks and incentives,

    Makes you wonder if and when a politician will come along who says he loves his (this) country will have the cajones to think of the people and not his potentially very heavy back pocket.

    Wouldn't it be just lovely to have some investigative journalist or new party leader come along and beat this topic to death in front of the public until they realizes that the the public would benefit and not only that have the power to change it? How about comparing the effectiveness (lol) and pay of a typical nobody politcian with like a mayor of any typical small city in the US.

    This burns me so bad it makes me want to buy a radio/television station and broadcast this stuff 24/7. But right now I need to run to the local pharmacy to help me with this sudden urge to vomit. These people and those who approve these salaries are as amoral and petty as any crack dealer as far as I'm concerned.
    Last edited by Robert; 01-14-2007 at 11:03 AM.

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    Is annual compensation of US$300k really that high for the head of a bank?

    Personally, I don't automatically object to high salaries, and someone that truly understands finance is worth their weight in gold (and then some). The issues are many, often extremely complex, and you can make or lose millions on a single decision.

    To get someone qualified, you need to pay a competitive wage or you simply can't attract the talent.

    Hector Valdez Albizu's resume:
    Banco Central de la República Dominicana

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    Quote Originally Posted by Chip00 View Post
    These people and those who approve these salaries are as amoral and petty as any crack dealer as far as I'm concerned.

    I guess I know where my comments above put me


    ps: I doubt 270 of those lower paid workers combined could do this gentleman's job.
    pps: Who is John Galt?

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    Quote Originally Posted by CFA123 View Post
    I guess I know where my comments above put me


    ps: I doubt 270 of those lower paid workers combined could do this gentleman's job.
    pps: Who is John Galt?
    It's not just one guy making this type of money but a whole slew of lackies too. What about the pension all these yokels will receive for the rest of their life? What has this country got to show for these deadbeats - shyt!

    US $300k is obscene amount of money taking into account the cost of living between here and the US. However, I'm sure some of the political types will justify it as they need their extra house on the beach, a new jipeta every year, send kids to Harvard, etc.

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    Gives the term 'austerity' a whole new meaning, doesn't it?

    Looks like FINJUS and Participacion Ciudadana don't much like it either.
    Bienvenidos al Hoy Digital
    Last edited by Lambada; 01-14-2007 at 12:24 AM.

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    Default thanks for the guffaw, CFA

    good stuff like this belongs over in the Clown Bin.....


    Quote Originally Posted by CFA123 View Post
    Personally, I don't automatically object to high salaries, and someone that truly understands finance is worth their weight in gold (and then some).


    To get someone qualified, you need to pay a competitive wage or you simply can't attract the talent.

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    [QUOTE=vince1956;479397]"SANTO DOMINGO.- Some Dominican Government officials get paid 270 times more than the average, paltry RD$3,600 minimum wage paid to Government workers, according to a document which the newspaper Hoy obtained from several agencies.

    The base salary of the head of the Government-owned Banco de Reservas is RD$600,000, not including other perks taking it to $975,000 monthly.

    In that bank the managers make "an initial" wage of $180,000 and the directors get paid $300,000, plus perks and incentives,"


    Yesterday, President Hugo Chavez, in his inaugural speach (his second six-year term) before the Venezuelan National Assembly, called those earning ridiculously high government salaries, immoral, and proposed to establish a maximum of US$1400 (in terms of the bolivar's official rate of exchange, and US$1000 of the bolivar's secondary market rate) for government employment. Chavez went ahead an added that "those who don't like it, can go seek work in the private sector or some transnational company".
    Last edited by Robert; 01-14-2007 at 11:04 AM.

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    Quote Originally Posted by Mirador View Post
    Yesterday, President Hugo Chavez, in his inaugural speach (his second six-year term) before the Venezuelan National Assembly, called those earning ridiculously high government salaries, immoral, and proposed to establish a maximum of US$1400 (in terms of the bolivar's official rate of exchange, and US$1000 of the bolivar's secondary market rate) for government employment. Chavez went ahead an added that "those who don't like it, can go seek work in the private sector or some transnational company".
    No doubt he'll attract a lot of top-notch talent to his government.

    But I guess when you're gonna overturn the constitution and become a dictator, top notch talent isn't patricularly important.

    No doubt his inner circle will be doing quite well, as they do in any other Communist dictatorships. The average citizen weren't the ones driving Benzs' and having "dachas" on the Caspian and Black Sea.

    Even in an egalitatrian Workers Paradise, rank has it's priviledges...

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    Quote Originally Posted by CFA123 View Post
    Is annual compensation of US$300k really that high for the head of a bank?

    Personally, I don't automatically object to high salaries, and someone that truly understands finance is worth their weight in gold (and then some). The issues are many, often extremely complex, and you can make or lose millions on a single decision.

    To get someone qualified, you need to pay a competitive wage or you simply can't attract the talent.

    Hector Valdez Albizu's resume:
    Banco Central de la República Dominicana
    I doubt there are more than 2-3 DR!ers who REALLY understand how a Central Bank works, and what the qualifications are to run one.

    Th attract talent, one must pay a competitive salary.

    P.S. John Galt is the man...

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