Torn on this one

Discussion in 'Economy' started by RetiredGySgt, Sep 21, 2008.

  1. RetiredGySgt
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    RetiredGySgt Platinum Member

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    Paulson Plan May Spark Showdown Between Democrats, Republicans - Yahoo! News

    If we buy these Companies then I see no reason why we can not set the pay for their employees including CEO's. I do not support though the idea that we should save the people that made bad loans when they should have known better.

    I do not like the Government bailing these companies out but see the need to do so.
     
  2. HoleInTheVoid
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    HoleInTheVoid Active Member

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    Are their executive officer pay plans mitigated by profitability? Most companies are so structured.

    If so you should be able to sleep soundly.
     
  3. RetiredGySgt
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    RetiredGySgt Platinum Member

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    CEO's routinely get paid huge sums even if their companies are deep in debt.
     
  4. HoleInTheVoid
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    HoleInTheVoid Active Member

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    Well, in the case of Mr Raines, it was done fraudulantly; but because it happened in the past does dictate it need happen in this case as your inquiry centers on the rightness or wrongness of a proposed course of action.

    As I implied in my first response I am unsure of the pay structure for these rubes. If I were a shareholder...and now it seems as if I am against my wishes and better judgment...I would want those who failed me so catastrophically to pay in the bitterest of terms.
     
  5. KittenKoder
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    KittenKoder Senior Member

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    I concur, if they screwed up then make them pay, if not then hurry up and fix the problem so we can get our money back as tax-payers. I would rather that money go to helping the country than into a risky stock.
     
  6. editec
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    editec Mr. Forgot-it-All

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    IF the US taxpayer gets put on the hook for the bad paper that the banks have, THEN the US taxpayer should just BUY those banks outright.

    Enough with this bailout shit.

    The banks fucked up, the taxpayer is going to have to save them, so the US government should OWN those banks, lock stock and barrel.

    Ssrew the investors who didn't put enough pressure on the boards of directors to run a tight ship, and screw the CEOs and top management, too.

    You want capitalism? There's how your capitalism is supposed to actually work.

    The US Taxpayer is coming up with the capital, ergo the golden rule should be put into effect.

    Him what has the gold RULES.

    The USA should take over those banks which are failed, simple as that. Not bail them out buy them up for whatever they are really worth TODAY.

    Pay for whatever residual market value of those banks is left and not a penny more and the US should OWN the value it puts into the bank according to the current stocks valuation of those banks. (which in many cases is ZERO, I suspect.)
     
  7. HoleInTheVoid
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    HoleInTheVoid Active Member

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    Koder,

    Alas, the % of this mess that equals CEO pay is miniscule. I'd prefer criminal charges if such can be legally proven.

    editec,

    I don't want the banks bought. I want the buy them bank and regs tightened to keep the fraud from being repeated.
     
  8. KittenKoder
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    KittenKoder Senior Member

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    That would be nice as well, though at this point it's only a possibility for the near future as we still have to get this current mess straightened out. Throwing money at it wasn't the best solution, but now that it's done and we are being ignored thus far, we can only hope for some kind of a return on the forced 'investment'. Criminal prosecution can be taken as well, but we may have to wait for the next pres and hope they follow our wishes better than the current one.
     
  9. editec
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    editec Mr. Forgot-it-All

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    Here's the thing...san regulations the MILLIONS of bad decisions made that brought us to this crises were NOT illegal decisions.

    The people who caused this mess were just maximizing their profits.

    We gave them persmission to speculate and speculate they did.

    We also set up the system such that they took the risks, but they who decided to take those risks got paid handsomely for it and then had none of that risk thrust upon them.

    Oh sure the banks might go down, but they get to keep their bonuses, and those obscenely fat paychecks they made off their mistakes.

    Nice system, eh?

    For the masters of the universe it is.

    For the rest of us?

    We're screwed.

    Deregulation was the proble3m.


    Find the people who screamed that government was the problem, and there you will find the fathers of this disaster.

    this board is rife with people who enabled these idiots.

    Some of them are so clueless that they STILL think this disaster is some kind of liberal plot to besmirch the good name of Adam Smith.

    The come at economics with less than an 8th graders' understanding of that most complex of all social sciences, and they think because they can quote Ayn Rand or some carefully redacted quotes from Adam Smith (a man who was NOT an economist, BTW) they know what the fuck they're talking about.

    They remind me of the liberals who truly believe that a single payer health care insurance sccheme is really going to bring down the cost of health care.

    They are ideaogues without a clue.
     
    Last edited: Sep 21, 2008
  10. PeterS
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    PeterS Active Member

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    No, Executive salaries are dictated by scarcity of labor not profits with the bigger bonuses given to get rid of someone then retain them.
     

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