With the stock market in the can, the economy in sad shape, and people losing homes and jobs at an alarming rate, it is disturbing to read another report about CEO over-compensation.

The New York Times reported Sunday on the growing problem of what many call excessive compensation for CEOs of the top companies.

The argument has been that it is very competitive and companies must pay top dollar to hire and retain talented leaders.

However, as the Times pointed out, the CEOs of 10 financial services companies pocketed $320 million in compensation last year while their banks reported mortgage-related losses of $55 billion.

I could lose $55 billion for a lot less than $320 million in compensation (I’d do it for $32 million).

When will stockholders realize that the lap-dog board of directors and their CEO buddies are taking them for an expensive ride?