Posted on 02/03/2009 7:18:14 PM PST by sloop
Just another way that Barry helps us get to shrug.
If these rules were in place before the bailout, I’m sure there would not have been a bailout.
Is the gov’t going to force corporations that don’t want federal aid to accept it anyway, as they did with some banks?
There is one way to avoid government meddling on the private affairs of a corporation. Let it fail if they make dumb decisons like over paying CEO’s.
what about UAW workers who receive government bailout money??? will they be capped on their six figure salaries???
“A Communist is a Socialist with your gun.”
Ouch! I’ve never heard that one before.
Succinct isn’t it?
ditto for the hospitals who receive my tax $$$...is his wife ever gonna repay any of the $200K salary increase she got just prior to her hospital getting a $1-million earmark??
“Look at the three US centers of finance, New York City (finance and trade), Chicago (commodites) and San Francisco (Pacific trade and finance). All three cities are located in blue states, represented by Dem Senators. Wall Street gave more money to the Dems than GOP hoping to curry favor.”
I know. We are in Bizarro World these days.
Will there be ceilings on the salaries of Movie Stars & Atheletes? The heads of the UAW & AFL-CIO?
Then if I were a CEO, I'd start emptying my own wastebaskets, have my job description reclassifed as an extremely well paid "janitor" and give the title of "CEO" to the guy who mops the floors.
How dare you speak to your "servants" that way? (snicker...snicker)
Oh wait! Only in the former Constitution were these WH morons your "servants"!
the good management will leave for greener pastures and the company will need another infusion of tax-payer money.Would that be the good management that drove these banks into bankruptcy? I wouldn't hire these bozos to clean my bathroom. If I were them, I'd take the pay cap because their other option is to sneak into Mexico and work at a factory.
The Jamaican bob-sled team could use it as a training tool.
The real question is: When will Obama and Co. decide that ALL corporations need to fall under the same rules? That will bring on a backlash that will send the Dems spinning.
By what constitutional authority can the POTUS regulate private sector pay?
I have to disagree with just about everyone here. The companies getting substantial taxpayer money have a choice. Take taxpayer money with strings attached or go chapter 7 and out of existence.
The CEO’s in charge of these upside down companies were at the helm when these companies went down the tubes, why compensate them with millions and bonuses? For performance?
The first group of companies took a net loss of 23 billion in 2008 and handed out 26 billion in TAXPAYER funded bonues...this is complete insanity.
So what we have is privatized profits and socialized losses...at OUR expense. And people here are bitching about compensation caps? If we are going to socialize Wall Street losses with taxpayer money then by God we will temporarily socialize the gains and compensation so long as taxpayer funds are holding major stakes in these corporations. Quasi-socialization of the gains and restrictions and strings attached is how we get OUR tax dollars back!
Once they become solvent and profitable again, they can go back to privatizing gains and compensation. The alternative is to go belly up and let the whole corporation crumble in to nothing. These companies aren’t being forced to do a damn thing, they have a choice, they can go belly up into bankruptcy court anytime they choose or work with us and our conditions.
The cap is absolutely appropriate since they are temporarily government entities and should take caps in pay like government managers, directors and politicians have. Let them earn their way out of needing bailout money and thus earn the right to have the cap removed when they pay back the government funds or divest government investments.
Lastly, the slippery slope paranoia is simply alarmist and ignorant. These are quasi-governmental institutions we are talking about here and thus it is appropriate for the taxpayer investments to be protected by handing out money with serious conditions, this is OUR money!
Why bitch about protection of OUR money? This is what made Paulson such a flop, just doled out our cash to Wall Street with zero conditions and they spent it on themselves, not to get the credit markets moving again, but on themselves.
Will this include Boeing/McDonnell Douglas, Lockheed Martin, Northrop Grumman, General Dynamics???.........they pretty much exist hanging off the public teet.
And the President’s authority to do this derives from — well, where, exactly?
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