Crony capitalism at its finest worst

From the Los Angeles Times:

Despite the Porter Ranch disaster, the top executive over SoCal Gas is getting an enormous bonus
Given that the Porter Ranch gas leak ranks as the worst such leak in U.S. history, with the potential to measurably damage the climate, and forcing thousands of families out of their homes, you'll be glad to know that Debra L. Reed, chairman and CEO of the gas company's parent firm, Sempra Energy, has been docked part of her pay because of the episode.

But you may be appalled to hear that her penalty comes to all of $130,000, and that she's still getting a $3.17-million bonus. That's the largest bonus she's received since becoming CEO of Sempra in 2011 and adding the title of chairman in 2012, according to the company's proxy statement, dated last Friday. It brings her total compensation for 2015 to $16.1 million, meaning that her executive penalty for presiding over an elemental corporate fiasco comes to about eight tenths of 1% of her pay.

Others on Reed's management team also have been docked, according to the proxy. They are President Mark A. Snell, Executive V.P Steven D. Davis, CFO Joseph A. Householder and General Counsel Martha B. Wyrsch. Altogether, they're being deprived of about $157,000, but they're still getting about $3.9 million in bonuses, combined.

Good lord. There is a huge difference between the crony capitalism we see today and free-market capitalism which this nation was founded on and to which we desperately need to return. These people need to have their bonuses revoked - they did nothing to protect their customers and the environment.