Bank pay control, UNBELIEVABLE

[Ravi]

I have a feeling most of you people read nothing but right wing blogs.

Here's a nice little article that shows why this is being done.

Oct. 23 (Bloomberg) -- American International Group Inc.’s highest-paid executives in the unit blamed for pushing the insurer to the brink of collapse haven’t returned bonuses as they’d promised, according to the Obama administration.



Four of five managers in AIG’s Financial Products unit under the jurisdiction of pay master Kenneth Feinberg didn’t make good on pledges to return the retention bonuses as of August, Feinberg said in documents released yesterday. The fifth employee hadn’t made any promise, Feinberg said. The pay master rejected AIG’s proposal to pay the five executives a total of $13.2 million this year.

AIG’s Top Swaps Managers Kept Bonuses, Feinberg Says (Update1) - Bloomberg.com

Feel free to continue championing these assholes.

 

[JakeStarkey]

The rightwing reactionaries here call themselves conservatives. They are not conservatives. They are simply delusional fools who believe an universe that does not exist anymore. It changed last fall, and they won't get it back next fall or any fall after that. They are not mainstream, they don't represent mainstream, and mainstream despises them. Let's move on.

 

[Againsheila]

I don't feel bad for a minute about these International Bankers who might get payed less than they deserved to begin with. However, When it's this out of control International Socialist Government sticking their noses into the Capitalist free market, it is a very sinister anti-Constitutional situation that any American with a brain should be concerned about.

It starts with these guys, and ends with everyday citizens who run small companies and it will surely without a doubt eventually bring down this Nation and reduce us to a turd World heap of crap. Too bad the Obama International Marxists who occupy our Government, as well as the bums who sit on their butts all day long, could care less until it hits their wallets at the end of the day. Which rest assure, it eventually will. ~BH

Why is it everyone wants socialism when it's in their favor? The banks had no problems with socialism when it came to the government bailing them out from their own mistakes, but NOW it's a problem when it comes to controlling their salaries? Here's an idea, they can give back ALL the money and the government won't control their salaries, how's that?

 

[Ravi]

I don't feel bad for a minute about these International Bankers who might get payed less than they deserved to begin with. However, When it's this out of control International Socialist Government sticking their noses into the Capitalist free market, it is a very sinister anti-Constitutional situation that any American with a brain should be concerned about.

It starts with these guys, and ends with everyday citizens who run small companies and it will surely without a doubt eventually bring down this Nation and reduce us to a turd World heap of crap. Too bad the Obama International Marxists who occupy our Government, as well as the bums who sit on their butts all day long, could care less until it hits their wallets at the end of the day. Which rest assure, it eventually will. ~BH

Why is it everyone wants socialism when it's in their favor? The banks had no problems with socialism when it came to the government bailing them out from their own mistakes, but NOW it's a problem when it comes to controlling their salaries? Here's an idea, they can give back ALL the money and the government won't control their salaries, how's that?

Stop being sensible.

 

[PubliusInfinitum]

I have a feeling most of you people read nothing but right wing blogs.

Here's a nice little article that shows why this is being done.

Oct. 23 (Bloomberg) -- American International Group Inc.’s highest-paid executives in the unit blamed for pushing the insurer to the brink of collapse haven’t returned bonuses as they’d promised, according to the Obama administration.



Four of five managers in AIG’s Financial Products unit under the jurisdiction of pay master Kenneth Feinberg didn’t make good on pledges to return the retention bonuses as of August, Feinberg said in documents released yesterday. The fifth employee hadn’t made any promise, Feinberg said. The pay master rejected AIG’s proposal to pay the five executives a total of $13.2 million this year.

AIG’s Top Swaps Managers Kept Bonuses, Feinberg Says (Update1) - Bloomberg.com

Feel free to continue championing these assholes.

Wow.. so you're stating as FACT; that the administration's illicit use of its executive power is limited to these individuals at AIG?

Well that IS NEWS!

Perhaps you should pen off a quick note to the AP... because they're confused; if your argument is valid and true...

U.S. President Barack Obama is welcoming the Treasury Department's order to slash top executives' pay at seven big companies that have not paid back their government bailouts. The U.S. central bank will also examine the way bankers are paid.

The government is telling the seven companies that have received the most federal aid to drastically cut the pay of their 25 highest-paid executives. ...

VOA News - Obama: Big Executive Bonuses Offend Our Values 

 

[Darkwind]

I don't feel bad for a minute about these International Bankers who might get payed less than they deserved to begin with. However, When it's this out of control International Socialist Government sticking their noses into the Capitalist free market, it is a very sinister anti-Constitutional situation that any American with a brain should be concerned about.

It starts with these guys, and ends with everyday citizens who run small companies and it will surely without a doubt eventually bring down this Nation and reduce us to a turd World heap of crap. Too bad the Obama International Marxists who occupy our Government, as well as the bums who sit on their butts all day long, could care less until it hits their wallets at the end of the day. Which rest assure, it eventually will. ~BH

Why is it everyone wants socialism when it's in their favor? The banks had no problems with socialism when it came to the government bailing them out from their own mistakes, but NOW it's a problem when it comes to controlling their salaries? Here's an idea, they can give back ALL the money and the government won't control their salaries, how's that?

Well, that is an interesting claim. If I recall correctly (and I do) it was pretty much those who are against socialism who were speaking the loudest about allowing those who partook in the bail out to fail completely. It would have been a better solution and a solid lesson in business ethics to the remaining banks.

But that is neither here nor there as we are actually speaking about the wrong of the government violating, willy-nilly, contracts that make them look to be on the side of the people when in fact, any violation of contract law by our government puts them squarely against the interests of the people.

And in fact, many of the companies wanted to pay back the money but were denied. For those who understand what a powerful central government can do to liberty and freedom, that in and of itself is probably the most frightening aspect of all this.

The loan shark is now telling the mark that he isn't going to be allowed to pay back his loan until the shark gets its full measure.

 

[Oddball]

I don't feel bad for a minute about these International Bankers who might get payed less than they deserved to begin with. However, When it's this out of control International Socialist Government sticking their noses into the Capitalist free market, it is a very sinister anti-Constitutional situation that any American with a brain should be concerned about.

It starts with these guys, and ends with everyday citizens who run small companies and it will surely without a doubt eventually bring down this Nation and reduce us to a turd World heap of crap. Too bad the Obama International Marxists who occupy our Government, as well as the bums who sit on their butts all day long, could care less until it hits their wallets at the end of the day. Which rest assure, it eventually will. ~BH

Why is it everyone wants socialism when it's in their favor? The banks had no problems with socialism when it came to the government bailing them out from their own mistakes, but NOW it's a problem when it comes to controlling their salaries? Here's an idea, they can give back ALL the money and the government won't control their salaries, how's that?

In principle, I agree with conditions on the pay of execs who took the bailouts.

However, this is the Executive branch ruling by fiat and voiding contracts and pay structures that were already written and agreed to.

I couldn't care less about party affiliation here....A tyrant is a tyrant.

 

[Darkwind]

The rightwing reactionaries here call themselves conservatives. They are not conservatives. They are simply delusional fools who believe an universe that does not exist anymore. It changed last fall, and they won't get it back next fall or any fall after that. They are not mainstream, they don't represent mainstream, and mainstream despises them. Let's move on.

Speaking of delusional......

 

[PubliusInfinitum]

I don't feel bad for a minute about these International Bankers who might get payed less than they deserved to begin with. However, When it's this out of control International Socialist Government sticking their noses into the Capitalist free market, it is a very sinister anti-Constitutional situation that any American with a brain should be concerned about.

It starts with these guys, and ends with everyday citizens who run small companies and it will surely without a doubt eventually bring down this Nation and reduce us to a turd World heap of crap. Too bad the Obama International Marxists who occupy our Government, as well as the bums who sit on their butts all day long, could care less until it hits their wallets at the end of the day. Which rest assure, it eventually will. ~BH

Why is it everyone wants socialism when it's in their favor? The banks had no problems with socialism when it came to the government bailing them out from their own mistakes, but NOW it's a problem when it comes to controlling their salaries? Here's an idea, they can give back ALL the money and the government won't control their salaries, how's that?

Hmm... this projects that 'everyone' approved of the socialist bailouts... and this based upon your use of the compound word: "everyone".

So given that 'everyone' did NOT approve of the TARP Bailout; and EVERYONE did not approve of the Socialist Policies which these companies reacted to; and accepted in so reacting...

Thus it seems fairly short sighted to construct an argument which projects that EVERYONE CANNOT ABHOR the manifestations of such policy... PARTICULARLY THOSE OF US WHO STATED A DECADE AGO, THAT SUCH ANTI-AMERICAN POLICY WOULD LEAD TO PRECISELAY THIS KIND OF ANTI-AMERICAN POLICY... and the predictable catastrophes that are inherent to such.

Would ya like to re-frame your argument to represent the fact that those who approved of socialist policies are the one's who can not complain that their means to exercise their rights are being limited, when they have conceded the responsibility which sustains those rights to those who are presently LIMITING THEIR MEANS TO EXEARCISE SUCH?

Because that's precisely the facts and as such is a position behind which myself and the few remaining Americans can get behind.

 

[PubliusInfinitum]

The rightwing reactionaries here call themselves conservatives. They are not conservatives. They are simply delusional fools who believe an universe that does not exist anymore. It changed last fall, and they won't get it back next fall or any fall after that. They are not mainstream, they don't represent mainstream, and mainstream despises them. Let's move on.

Speaking of delusional......

Well that's the nature of delusion... it appeals to popularity as if such is somehow tied to validity...

Conservative Principles; the immutable principles of nature are no different today, than they have ever been...

The irrational, unsustainable principles of Marxism being advanced, and manifesting themselves in the catastrophes which Nature requires that they will, only proves that as a fact.

Yet this imbecile ignores the facts and claims that the perceived popularity of such, somehow changes the laws of nature.


But hey... that what provides the basis, which establishes the recognized traits; thus implants the label, upon addle-minded fools.

Sorta Cool, huh?

 

[Darkwind]

The rightwing reactionaries here call themselves conservatives. They are not conservatives. They are simply delusional fools who believe an universe that does not exist anymore. It changed last fall, and they won't get it back next fall or any fall after that. They are not mainstream, they don't represent mainstream, and mainstream despises them. Let's move on.

Speaking of delusional......

Well that's the nature of delusion... it appeals to popularity as if such is somehow tied to validity...

Conservative Principles; the immutable principles of nature are no different today, than they have ever been...

The irrational, unsustainable principles of Marxism being advanced, and manifesting themselves in the catastrophes which Nature requires that they will, only proves that as a fact.

Yet this imbecile ignores the facts and claims that the perceived popularity of such, somehow changes the laws of nature.


But hey... that what provides the basis, which establishes the recognized traits; thus implants the label, upon addle-minded fools.

Sorta Cool, huh?

Some people just need to find a way to validate their own fears. I've come to realize that is much of what passes for the modern liberal.

 

[JakeStarkey]

PI and the other delusionaries believe they are relevant to the process. They are not, simply mere puppets in a buffoonish side show, similar to the low-brow comedic actors that Shakespeare liked to employ for relief.

 

[Oddball]

Wow....What a comprehensive, principled and fact-packed post!

 

[Ame®icano]

I heard yesterday that one of these guys is going to have to take a 50% pay cut. From $38 million all the way down to $19 million.

I wonder how he'll manage to get by?

That's not the point, Kojak. The point is we have the government running the bank.

Can't be any worse than the private sector running the bank. Look what caused this recession to begin with!

GOVERNMENT!!!

[ame="http://www.youtube.com/watch?v=_MGT_cSi7Rs"]Let's take a look, shall we?[/ame]

 

[PubliusInfinitum]

that's not the point, kojak. The point is we have the government running the bank.

can't be any worse than the private sector running the bank. look what caused this recession to begin with!

government!!!

nailed it!​

 

[Ravi]

PI and the other delusionaries believe they are relevant to the process. They are not, simply mere puppets in a buffoonish side show, similar to the low-brow comedic actors that Shakespeare liked to employ for relief.

That is probably true. They usually don't make a peep until Glenn Beck or another of their heroes stirs them up into a frothing frenzy. It is perfectly clear to anyone that is rational that the people that are being looked into SIGNED on to this.

The announcement is the third effort by Washington to respond to public outrage over outsize pay packages. On Feb. 4, the Obama administration announced a proposal to set a $500,000 cap on cash compensation for the most senior executives at troubled companies getting “exceptional assistance,” and restrictions on cashing in stock incentives.
That plan did little to quell public sentiment as details of bonuses were disclosed at major companies receiving federal assistance. Two weeks after the Obama plan was announced, Congress approved a $787 billion economic stimulus bill that included tougher restrictions.
That provision, inserted by Senator Christopher J. Dodd, the Connecticut Democrat, over the objections of the Obama administration, instructed Treasury to come up with rules for the five top officers and the 20 highest-paid executives at the largest of the troubled companies.
The legislation also barred top executives from receiving bonuses exceeding one-third of their annual pay. Moreover, any bonus would have to be in the form of long-term incentives, like restricted stock, which could not be cashed out until the company repaid the government.

http://www.nytimes.com/2009/06/11/business/11pay.html?hp

 

[Contumacious]

I hear we allegedly landed on the moon, too.

GS and GE have paid back the money...and are not issuing loans backed by the government any longer. Other companies have not paid back the money and continue to issue loans backed by the government.

It really isn't rocket science.

So I take it that - somehow - you have PERSONAL KNOWLEDGE of this events - you have seen photocopies of the cancelled checks - or are you just gullible and naive.

.

Contumacious, you are sounding just goofy. .

I believe that the word you were looking for was astute.

.

 

[WillowTree]

Hey! hows about the CEO of Fannie Mae? Did he get a 90% salary cut?


lay yer bets down folks.

 

[RetiredGySgt]

Unlike a Treasury plan to slash pay at certain companies that were bailed out with large sums of taxpayer money, the Fed proposal would cover thousands of banks, including many that never received a bailout.

Go figure.

Fed outlines plan to police bank pay - Yahoo! News

 

[jeffrockit]

No one was forced to take the money. Or pressured. And all that wanted to pay it back paid it back. Nice lies, though, dipshit.

Nice name calling. I guess that is the extent of your argument. What are you 15?