John Sununu Quotes
Critics might contend that putting former private-sector CEOs in the president's Cabinet places the fox in the henhouse. But it's unlikely such executives would expose themselves to the headaches if they weren't genuinely motivated by the call to service.
Sununu, John E. "The CEO Cabinet." The Boston Globe, 17 Dec. 2012.
He was executed for rebellion at age 29. However, a number of his followers went on to leadership positions in the reforms that followed.
His sentiments after he began serving his jail sentence for conflict of interest.
At this time it was 6 years after the Home Financing Crisis and the Meltdown of 2008 and despite tens of thousands of law violations by the bank, the Justice Department was finally finishing their investigations and requiring some penalties. Other negotiations with other banks were in progress, but no bank executives were going to jail for the millions they handled fraudulently, whereas a burglar who stole household goods would do jail time.
Corporations were not common at the time. The corporations of the day like large corporations today had directors and managers who were not the principle owners. There was deep suspicion that these professional managers would not watch over the money of the corporation with the same degree of vigilance as would the owner manager. The same problem exists today when the economic vested interest of the managers and the shareholders do not always coincide. Various bonus schemes have been created to ameliorate the problem, but as the meltdown of 2008 and the Great Recession demonstrated, many managers would make ruinous decisions for the corporation as they could get large bonuses. “Copartnery” is an older English term for “partnership.”
John Edward Sununu is an American politician who served as a member of the United States House of Representatives and United States Senator from New Hampshire. He is the only Salvadoran American ever elected to the U.S. Congress (having served in both the House and the Senate). Sununu was the youngest member of the Senate for his entire six-year term. He is the son of former New Hampshire Governor and former White House Chief of Staff John H. Sununu. On November 4, 2008, Sununu lost his re-election bid to former governor Jeanne Shaheen. His younger brother, Chris Sununu, has been the Governor of New Hampshire since January 2017.
