ms. anderson a question. ms. rson, according to your testimony in 1980 ceo's of large corporations made about 42 times more than their average worker . today's ceo's now, make over 300 times more than their average worker, very briefly how did that happen? >> well it didn't happen because ceo's just got a whole lot smarter during that time period on the worker end it's happened . on the worker end it's happened because wages have stagnated as unions have declined as we've already discussed. on the ceo and it's happened because stock-based pay has come to dominate ceo pay packages and the argument there was that shifting to stock-based pay would ensure pay for performance and that has really turned into a joke. study after study shows there's no connection between ceo pay levels and their performance and one of the most obvious examples was after the 2008 financial crash when companies gave boatloads of new stock options to their executives when the market was at the bottom. and very quickly those stock options bal

ms. anderson a question. according to your testimony, in 1980, ceos of large corporations made about 42 times more than the average worker. today they make over 300 times more than their average worker. very briefly, how did that happen? >> it didn't happen because ceos just got a lot smarter during that time period. on the worker and it happened because we've stagnated as the unions have declined as we have already discussed. it's happened because they've come to dominate the ceo pay packages and the argument was that the shifting and sure the pay-for-performance and that has turned into a joke. study after study shows there is no connection between the pay levels and their performance. one of the most obvious examples after the 2008 financial crash when companies gave boatloads of stock options either executives when the market was at the bottom and very quickly the stock options ballooned in value as a result of the taxpayers recovery not because of an executive performance. >> thank you very much. my time

ms. anderson a question. according to your testimony, in 1980, ceos of large corporations made about 42 times more than the average worker. today they make over 300 times more than their average worker. very briefly, how did that happen? >> it didn't happen because ceos just got a lot smarter during that time period. on the worker and it happened because we've stagnated as the unions have declined as we have already discussed. it's happened because they've come to dominate the ceo pay packages and the argument was that the shifting and sure the pay-for-performance and that has turned into a joke. study after study shows there is no connection between the pay levels and their performance. one of the most obvious examples after the 2008 financial crash when companies gave boatloads of stock options either executives when the market was at the bottom and very quickly the stock options ballooned in value as a result of the taxpayers recovery not because of an executive performance. >> thank you very much. my time