Marxist-Leninist Bullsh*t!

[auditor0007]

Obama Imposes Pay Cap on Executives By JIM KUHNHENN, AP
posted: 11 MINUTES AGOcomments: 2509filed under: Political News, Bailout Vote, The Obama PresidencyPrintShareText SizeAAAWASHINGTON (Feb. 4) - President Barack Obama imposed a $500,000 pay cap on some senior executives whose firms receive government financial rescue money, a dramatic intervention into corporate governance in the midst of financial crisis.
Standing with his Treasury Secretary Timothy Geithner, Obama said the United States doesn't disparage wealth nor does it begrudge those who succeed, but lavish bonuses for executives at companies seeking taxpayer dollars was unfair.

Obama Imposes Pay Cap on Executives

I realize there should be accountability, especially from these execs who have paid themselves ridiculous bonuses at a time when many are receiving funding through the bailout. Here is the problem I have; if some of these companies now feel it is time to go in a new direction and choose to remove some of these CEO's and other executive officers, how will they replace them with qualified candidates when they will be limited in what they can pay?

I'm not saying they should be allowed to pay anything they want necessarily, but $500,000 for a top exec of these huge corporations is a very low salary in most cases. The truly qualified will seek employment elsewhere leaving these companies with their current executives or with new ones who will likely be less qualified.

 

[Shogun]

President Barack Obama imposed a $500,000 pay cap on some senior executives whose firms receive government financial rescue money


absolutely. If a CEO type can't keep their own shit together and have to beg for a bailout then they can do without the fucking caviar for a while. Anything less than this policy would incite an accurate criticism that bailout money is going to line the wallets of the upper class instead of stimulate the economy.


You people need to be glad pussy Euros lobbied our American President away from "Buy American" standards and be done with it. Lord fucking knows the last thing that will stimulate our economy is.. buying French steel.

 

[WillowTree]

I absolutely agree with pay caps if the company is receiving Federal Taxpayer money.. yep,, and I would go so far as to say if you come to Washington begging for money cause you screwed yer company up you should resign on the spot.

 

[Red Dawn]

Obama to Limit Executive Pay to $500,000


Obama is going to propose a cap on executive pay for any entity that takes government aid. The New York Times reports the limit is $500,000:

The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan.

Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends.

The new rules would be far tougher than any restrictions imposed during the Bush administration, and they could force executives to accept deep reductions in their current pay. They come amid rising public fury about huge pay packages for executives at financial companies being propped up by federal tax dollars.

http://www.nytimes.com/2009/02/04/business/04pay.html

 

[Truthmatters]

Hey its our money on the line.

It just may clear out the scumbags from these Cos.

The people who are currently there are the ones who let this shit happen and profited from it.

 

[Modbert]

Obama to Limit Executive Pay to $500,000


Obama is going to propose a cap on executive pay for any entity that takes government aid. The New York Times reports the limit is $500,000:

The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan.

Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends.

The new rules would be far tougher than any restrictions imposed during the Bush administration, and they could force executives to accept deep reductions in their current pay. They come amid rising public fury about huge pay packages for executives at financial companies being propped up by federal tax dollars.

http://www.nytimes.com/2009/02/04/business/04pay.html

Sorry bucko, no million dollar bonuses for these guys if they take this aid money. There is a reason why it's called a bonus, it's for doing a good job which none of these companies taking aid have done. So therefore, they don't deserve it.

 

[editec]

Obama Imposes Pay Cap on Executives By JIM KUHNHENN, AP
posted: 11 MINUTES AGOcomments: 2509filed under: Political News, Bailout Vote, The Obama PresidencyPrintShareText SizeAAAWASHINGTON (Feb. 4) - President Barack Obama imposed a $500,000 pay cap on some senior executives whose firms receive government financial rescue money, a dramatic intervention into corporate governance in the midst of financial crisis.
Standing with his Treasury Secretary Timothy Geithner, Obama said the United States doesn't disparage wealth nor does it begrudge those who succeed, but lavish bonuses for executives at companies seeking taxpayer dollars was unfair.

Obama Imposes Pay Cap on Executives

I realize there should be accountability, especially from these execs who have paid themselves ridiculous bonuses at a time when many are receiving funding through the bailout. Here is the problem I have; if some of these companies now feel it is time to go in a new direction and choose to remove some of these CEO's and other executive officers, how will they replace them with qualified candidates when they will be limited in what they can pay?

I'm not saying they should be allowed to pay anything they want necessarily, but $500,000 for a top exec of these huge corporations is a very low salary in most cases. The truly qualified will seek employment elsewhere leaving these companies with their current executives or with new ones who will likely be less qualified.

I'm fairly confident that we can hire qualified people for a half-mil a year who will be more than suitable.

Now in the case of firms which owe their existence to the US government thanks to these bailouts, a pay cap is entirely justified.

The GOLDEN RULE is in effect, after all.

As to pay caps in businesses which have NOT gotten US tax dollars?

None of the government's business.

If the stockholders are foolish enough to truly think that somebody is worth $500 million a year, who are we to tell them they don't have that right?

I mean I think they're total fools, (no CEO on earth is worth that amount of money) but so what?

 

[PoliticalChic]

All you Obama voters out there, connect the dots and pin the tail on the donkey. Who did Lenin mean when he used the phrase "useful idiots"?

 

[jillian]

pooh....

If they want our money, they can't give themselves billions of dollars in bonuses for driving their companies into the ground.

They can choose not to take our money.

BTW, the proposal says they can DEFER bonuses until they pay us back. They just can't have it on our dime.

I'm okay with it.

 

[toomuchtime_]

Obama Imposes Pay Cap on Executives By JIM KUHNHENN, AP
posted: 11 MINUTES AGOcomments: 2509filed under: Political News, Bailout Vote, The Obama PresidencyPrintShareText SizeAAAWASHINGTON (Feb. 4) - President Barack Obama imposed a $500,000 pay cap on some senior executives whose firms receive government financial rescue money, a dramatic intervention into corporate governance in the midst of financial crisis.
Standing with his Treasury Secretary Timothy Geithner, Obama said the United States doesn't disparage wealth nor does it begrudge those who succeed, but lavish bonuses for executives at companies seeking taxpayer dollars was unfair.

Obama Imposes Pay Cap on Executives

I realize there should be accountability, especially from these execs who have paid themselves ridiculous bonuses at a time when many are receiving funding through the bailout. Here is the problem I have; if some of these companies now feel it is time to go in a new direction and choose to remove some of these CEO's and other executive officers, how will they replace them with qualified candidates when they will be limited in what they can pay?

I'm not saying they should be allowed to pay anything they want necessarily, but $500,000 for a top exec of these huge corporations is a very low salary in most cases. The truly qualified will seek employment elsewhere leaving these companies with their current executives or with new ones who will likely be less qualified.

Well, if you're trying to deflect media attention from rich Democrats who don't pay their taxes and you have no real plan to pull the economy out of the recession it is certainly a good idea to beat up on banking executives, and if that doesn't work, to take a few whacks at auto executives, and if the economy still can't be charmed out of the recession, it won't hurt to do some trash talking about the health insurance industry, either.

 

[PubliusInfinitum]

Hey its our money on the line.

It just may clear out the scumbags from these Cos.

The people who are currently there are the ones who let this shit happen and profited from it.

Well, this is what happens when ya go on the dole... and as long as it's a reg during that period, that's what one can expect.

There's an old expression: He who pays the fiddler, gets to pick the tune...

Lee Iacoca found he didn't like such restrictions when Chrysler was bailed out in the 80s and as a result paid the coin back in record time.

What will be interesting is watching the left decide that they get set salary caps TO PREVENT (fill in the fallacy)...

 

[Shogun]

yea dude.. it really is "taking a whack" at motherfuckers who drove their own business into the ground while sporting a caviar lifestyle!




good grief.

 

[Said1]

I hope preventative measures don't lead to new and creative ways of cheating.

 

[WillowTree]

I hope preventative measures don't lead to new and creative ways of cheating.

if there's a way to cheat Geithner will find it. now won't he?

 

[RodISHI]

Obama Imposes Pay Cap on Executives By JIM KUHNHENN, AP
posted: 11 MINUTES AGOcomments: 2509filed under: Political News, Bailout Vote, The Obama PresidencyPrintShareText SizeAAAWASHINGTON (Feb. 4) - President Barack Obama imposed a $500,000 pay cap on some senior executives whose firms receive government financial rescue money, a dramatic intervention into corporate governance in the midst of financial crisis.
Standing with his Treasury Secretary Timothy Geithner, Obama said the United States doesn't disparage wealth nor does it begrudge those who succeed, but lavish bonuses for executives at companies seeking taxpayer dollars was unfair.

Obama Imposes Pay Cap on Executives

I realize there should be accountability, especially from these execs who have paid themselves ridiculous bonuses at a time when many are receiving funding through the bailout. Here is the problem I have; if some of these companies now feel it is time to go in a new direction and choose to remove some of these CEO's and other executive officers, how will they replace them with qualified candidates when they will be limited in what they can pay?

I'm not saying they should be allowed to pay anything they want necessarily, but $500,000 for a top exec of these huge corporations is a very low salary in most cases. The truly qualified will seek employment elsewhere leaving these companies with their current executives or with new ones who will likely be less qualified.

Well, if you're trying to deflect media attention from rich Democrats who don't pay their taxes and you have no real plan to pull the economy out of the recession it is certainly a good idea to beat up on banking executives, and if that doesn't work, to take a few whacks at auto executives, and if the economy still can't be charmed out of the recession, it won't hurt to do some trash talking about the health insurance industry, either.

You are right the insurance industry needs to be next on the chopping block list!

 

[editec]

pooh....

If they want our money, they can't give themselves billions of dollars in bonuses for driving their companies into the ground.

They can choose not to take our money.

BTW, the proposal says they can DEFER bonuses until they pay us back. They just can't have it on our dime.

I'm okay with it.

Thanks for further clarifying the issue.

Nothing like having the actual details to make things more understandable, is there?

 

[Zoom-boing]

Are the pay caps permanent or just until the banks pay back the bailout money? I don't like the idea of government setting salaries for anyone. I see this as just more government control. They need to hold the banks accountable for the moneis they already received. Any money used toward bonuses, golden parachutes, pay, etc. should be given back. The money was provided to lend; they need to start lending it. No further money should be given until they start lending the first $350 billion. Has anyone heard or read where, exactly, that money is? Last I heard the banks were mum on this.

 

[jillian]

Are the pay caps permanent or just until the banks pay back the bailout money? I don't like the idea of government setting salaries for anyone. I see this as just more government control. They need to hold the banks accountable for the moneis they already received. Any money used toward bonuses, golden parachutes, pay, etc. should be given back. The money was provided to lend; they need to start lending it. No further money should be given until they start lending the first $350 billion. Has anyone heard or read where, exactly, that money is? Last I heard the banks were mum on this.

According to Claire McCaskill, who authored the bill, they exist only until the money is paid back.

Anyone who takes money from the government is subject to controls.

 

[GHook93]

Fuck these scumbag asshole. They dug their own graves! If we are going to give them bailout money, then fuck them and the horse they road in on.

How can AIG get a large bailout and then spend $60 mil on a corporate jet. Its like a welfare receiptant getting $1,000 and spending $900 on alcohol and drugs.

I know the arugment that dictating salaries are communist/socialist. Hey if they don't want limits on their over-bloated salaries that they obviously didn't earn, then don't take any fucking tax payor provided bailout money.

I know there are some people that say who will work for $500K as an executive, my hunch is that will scare off many people, but I have a hunch that there are many out of work HIGHLY compenate businessmen that would love a shot at the job!

 

[Zoom-boing]

Are the pay caps permanent or just until the banks pay back the bailout money? I don't like the idea of government setting salaries for anyone. I see this as just more government control. They need to hold the banks accountable for the moneis they already received. Any money used toward bonuses, golden parachutes, pay, etc. should be given back. The money was provided to lend; they need to start lending it. No further money should be given until they start lending the first $350 billion. Has anyone heard or read where, exactly, that money is? Last I heard the banks were mum on this.

According to Claire McCaskill, who authored the bill, they exist only until the money is paid back.

Famous last words, imo.

Anyone who takes money from the government is subject to controls.

Funny, government didn't bother putting any controls on how the banks use the money (I mean, REALLY??), yet jump right in when controlling how much an exec. can get paid. I find it mind-boggling that $350 billions dollars seems to have just 'disappeared'.