House Votes To Restrict Wall Street Pay

Discussion in 'Politics' started by The Illusion, Jul 31, 2009.

  1. The Illusion
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    The Illusion Energist

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    WASHINGTON (AP) -- The House voted Friday to slap restrictions on how Wall Street executives are paid after nine banks that took government bailout money rewarded thousands of their employees with bonuses topping $1 million each.

    Bowing to populist anger and defying President Barack Obama's suggestion that government rely on incentives instead of intervention to curb excessive salaries and bonuses, the House passed the bill on a 237-185 vote.

    "This is not the government taking over the corporate sector. . . . It is a statement by the American people that it is time for us to straighten up the ship," said Rep. Melvin Watt, D-N.C.

    Although the bill doesn't give Obama exactly what he wanted, it advances the first piece of his broader proposal to increase oversight of financial institutions. The Senate was expected to take up the package after Congress returns in September from its summer recess.

    Read more at: AllAroundPhilly
     
  2. xsited1
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    xsited1 Agent P

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    Liberal fascism at its finest.

    [​IMG]
     
  3. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    The federal government doesn't have the authority to restrict pay.
     
  4. The Illusion
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    The Illusion Energist

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    Thats what made me so mad about it.........

    Jamie
     
  5. Immanuel
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    Immanuel Gold Member

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    Since when has that stopped them from doing something like this?

    And hell, if they can't stop it then they will simply come of with some BS tax that will take it away from the execs anyway.

    Immie
     
  6. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    Well they didn't have the authority to bail out these companies in the first place, so the answer to your question is never.
     
  7. Fatality
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    Fatality SunCrackedSoul

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    well they can tell the feds to fuck off or they can grovel at their feet. i give you one choice as to which it will be and it wont be telling them to fuck off. they made their bed by taking the money now they are getting boned in that bed by the fucktards they dealt with.
     
  8. Oddball
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    Oddball BANNED Supporting Member

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    Pure, unadulterated fascism.
     
  9. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    I don't know if giving the money to all the Wall Street bozos is such a bad thing or not... I think I would rather give it to somebody that can have a good time with it rather than to use it to build tunnels so turtles can cross the road without getting run over.
     
  10. RetiredGySgt
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    RetiredGySgt Platinum Member

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    Sure it does, just ask Jillian she will explain to you how the words "the general welfare" actually give the Federal Government unlimited powers contrary to everything EVER written about the Constitution and its powers by the men that WROTE it.
     

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