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Obama sees executive pay rules as next financial reform: report
Yahoo!/Reuters ^ | October 25, 2012
Obama sees executive pay rules as next financial reform: report - Yahoo! News
WASHINGTON (Reuters) - President Barack Obama said in an interview released on Thursday that the next important step for making the financial sector safer is to make sure executive pay is less closely tied to risky bets.
In an interview to be published on Friday in Rolling Stone magazine, Obama said that despite passage of Dodd-Frank financial reform legislation, there is more to be done to make financial markets safe after the damage caused by the crisis of 2007-2009.
"The single biggest thing that I would like to see is changing incentives on Wall Street and how people get compensated," Obama said. It's questionable, even after enactment of Dodd-Frank reforms, that those incentives have completely been changed, he added.
The Rolling Stone interview stirred controversy because of the president's use, at one point, of a barnyard epithet that some saw as an attack on Republican Mitt Romney.
The White House did not dispute the remarks but a re-election campaign official stressed that the comments were "part of a casual conversation at the end of the interview." The wide-ranging interview covers Obama's first term, what he views as his biggest accomplishments and his fierce fight with Romney for the White House.
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Wow, this fucker wants to control the private sector. Why not do what China does?
The issue is tjat some of these highly paid execs make their money off the risky investments by others. However the investor can lose yet the execs pay remains the same. Sharing the risk doesnt seem all that unreasonable to me.
Don't like the risk...don't make the investement.
I wonder what Obama did for the Solyndra investors ?
He wants to control how people get compensated.
That's blatant tyranny.
w/o reading single post, I will bet my avi for a week that every liberal and all but one middler supports this.
China is becoming more free
America is becoming less
We must vote Obama out.
DARNIT
Not a single liberal bothered with disappointing me.
color me not shocked
He wants to control how people get compensated.
That's blatant tyranny.
w/o reading single post, I will bet my avi for a week that every liberal and all but one middler supports this.
Except this is actually how much of the rest of the world operates, guy.
Only in America do we really think that CEO's deserve to get 475 times what line workers get for mediocre performance.
[
aww, poor baby needs his obamamy to make it ALLLL Better!
liberals cheer the downfall of freedom, then try to claim they are like the Founding Fathers.
sad really, and very pathetic
DARNIT
Not a single liberal bothered with disappointing me.
color me not shocked
Why would they?
In fact, I haven't heard a sane defense yet of 8 figure CEO pay yet.
Other than, "Mine, mine, mine, mine, mine!"
[
aww, poor baby needs his obamamy to make it ALLLL Better!
liberals cheer the downfall of freedom, then try to claim they are like the Founding Fathers.
sad really, and very pathetic
Ooooh... "Freedom" Right.
Let me get my "Conservatard to English Dictionary"
"Freedom- the right of the rich to act like complete douchebags without any regard to the well-being of society or the country."
DARNIT
Not a single liberal bothered with disappointing me.
color me not shocked
Why would they?
In fact, I haven't heard a sane defense yet of 8 figure CEO pay yet.
Other than, "Mine, mine, mine, mine, mine!"
b/c you bleat about freedoms, then scream to have them taken away.
But that's the standard hypocrissy.
[
well duh
When it comes to freedom, we take the good with the bad.
Big government fails every time, yet liberals insist on trying it here.
Why would they?
In fact, I haven't heard a sane defense yet of 8 figure CEO pay yet.
Other than, "Mine, mine, mine, mine, mine!"
b/c you bleat about freedoms, then scream to have them taken away.
But that's the standard hypocrissy.
Isn't an issue of "Freedom" guy.
Corporations are legal entities, subject to the laws and can only exist due to what the rest of us allow.
The "Freedom" argument went out the window the minute these guys insisted their corporations were "Too big to fail" and needed public bailouts.
We're all socialists, now.
[
well duh
When it comes to freedom, we take the good with the bad.
Big government fails every time, yet liberals insist on trying it here.
Guy, don't get high on your own supply.
Government does most of what it's tasked to do pretty successfully. The roads are paved, the police respond to emergencies, the military does its functions, etc.
Simply no reason why CEO's should get 475 times what a line worker gets. Simply no reason they should get an 8 figure salary when they had to go to government for a bailout.
b/c you bleat about freedoms, then scream to have them taken away.
But that's the standard hypocrissy.
Isn't an issue of "Freedom" guy.
Corporations are legal entities, subject to the laws and can only exist due to what the rest of us allow.
The "Freedom" argument went out the window the minute these guys insisted their corporations were "Too big to fail" and needed public bailouts.
We're all socialists, now.
sweet
When does my rent get paid?
nah, not playing along.
At no point does anyone give up freedom just b/c the government gave them money.
If that was true, we could tell people on welfare how to act, or else.
so, you failed again by talking to much.
Isn't an issue of "Freedom" guy.
Corporations are legal entities, subject to the laws and can only exist due to what the rest of us allow.
The "Freedom" argument went out the window the minute these guys insisted their corporations were "Too big to fail" and needed public bailouts.
We're all socialists, now.
sweet
When does my rent get paid?
nah, not playing along.
At no point does anyone give up freedom just b/c the government gave them money.
If that was true, we could tell people on welfare how to act, or else.
so, you failed again by talking to much.
Ummm, guy, we do tell people on welfare how to act.
So if we can tell folks on Welfare how to act, we should tell CEO's how to act, too.
Seems reasonable to me.
Welfare Reform in the United States Requires Welfare Recipients to Go to Work
The Welfare Reform Act
The Personal Responsibility and Work Opportunity Reconciliation Act of 1996 -- A.K.A. "The Welfare Reform Act" -- represents the federal government's attempt to reform the welfare system by "encouraging" recipients to leave welfare and go to work, and by turning over primary responsibility for administering the welfare system to the states.
Under the Welfare Reform Act, the following rules apply:
Most recipients are required to find jobs within two years of first receiving welfare payments.
Most recipients are allowed to receive welfare payments for a total of no more than five years.
The states are allowed to establish "family caps" that prevent mothers of babies born while the mother is already on welfare from receiving additional benefits.
