Administration, Congress seek to rein in exec pay

[Sweet Willy]

Oh really? I think it has....

I'm all ears.

I haven't seen anything bought but losers and bankrupt crap.

see post 15 .....

Doesn't support the OP's claim that Obama is targeting profitable companies.

I agree, the auto bails were BS. I hate to see GM go but hey, let 'em go.

Regardless, buying broke ass, bankrupt companies isn't the claim here.

 

[Kevin_Kennedy]

I'm all ears.

I haven't seen anything bought but losers and bankrupt crap.

see post 15 .....

Doesn't support the OP's claim that Obama is targeting profitable companies.

I agree, the auto bails were BS. I hate to see GM go but hey, let 'em go.

Regardless, buying broke ass, bankrupt companies isn't the claim here.

No, it's not the claim. The claim is that Obama is seeking to cap the pay of executives of any publicly traded company, which they have absolutely no authority to do.

 

[RodISHI]

"The Obama administration struck a delicate balance on executive pay Thursday, blaming flawed compensation packages for encouraging disastrous risk-taking but insisting it doesn't want to dictate how corporations reward their top people...

"I can say with certainty that nobody in the Obama administration is proposing such a thing," he said.

"Yet, at the same time, he and officials with the Federal Reserve and the Securities and Exchange Commission laid out a case for how payment structures rewarded short-term gains at the expense of long-term performance and contributed to the nation's financial crisis."
Administration, Congress seek to rein in exec pay - Yahoo! Finance

Tell me Obama isn't doing exactly what Chavez is doing in Venezuela...

Chavez targets and seizes companies that make a profit....

GM being going broke many many moons now....Chrysler going broke many many moons now.

 

[RodISHI]

see post 15 .....

Doesn't support the OP's claim that Obama is targeting profitable companies.

I agree, the auto bails were BS. I hate to see GM go but hey, let 'em go.

Regardless, buying broke ass, bankrupt companies isn't the claim here.

No, it's not the claim. The claim is that Obama is seeking to cap the pay of executives of any publicly traded company, which they have absolutely no authority to do.

They should make it mandatory that the shareholders vote to set the pay caps...simple problem solved.

 

[driveby]

see post 15 .....

Doesn't support the OP's claim that Obama is targeting profitable companies.

I agree, the auto bails were BS. I hate to see GM go but hey, let 'em go.

Regardless, buying broke ass, bankrupt companies isn't the claim here.

No, it's not the claim. The claim is that Obama is seeking to cap the pay of executives of any publicly traded company, which they have absolutely no authority to do.

Exactly, why doesn't Obama start capping pay in his own house first ?

 

[Toro]

There is little doubt that excessive compensation schemes contributed to the crisis. Stan O'Neil, who was the former CEO of Merrill Lynch and bought the subprime mortgage companies which has destroyed the company, walked away with nearly $80 million in severance and pay of around $200 million as CEO. What does it matter to him that Wall Street has all but disappeared? He has his pile. A guy who was hired as CFO of Morgan Stanley was paid $15 million for four months work. There are a lot of guys like that on Wall Street.

People argue "Its the free market, let the market decide." Well, not really. Pay is set by compensation committees, which are appointed by boards, whose members are often recommended to the nomination committee by the Chairman, who is often the CEO, and whose pay is determined by those whom he helps get appointed to the Board. Shareholders have virtually no say in how executives are paid and it is almost impossible for shareholders to fire executives if the board is stacked with insiders who are loyal to the CEO. This is a free market?

Regulators have always had the ability to cap executive pay at banks if they felt that the pay threatened the viability of the bank, though it was rarely used. I don't like the idea of the government setting pay, but if the banks are going to be regulated by the government and have a hand in the government for being bailed out, then the government should be able to cap pay.

A better way is to make it far easier for shareholders to remove boards and executives and set compensation. The government has announced two initiatives over the past few months that will make it easier to do so.

 

[AllieBaba]

Government regulators?

 

[ItsFairmont]

In prison there are fancy-boys (oten called bitches) who give in to the tough guys and "give" then what they want.


In American Society these same people are poor or middle class, and they are called Conservatives.