Posted on 02/04/2009 9:16:46 AM PST by NormsRevenge
President Obama sent a clear message to corporate executives and Republicans opposing his stimulus plan — he's in charge.
In sternly worded remarks from the Grand Foyer of the White House Wednesday morning, Obama decried excessive executive bonuses and severance packages as "the height of irresponsibility," and he announced that he is capping compensation for executives who receive "extraordinary help" from the federal government at $500,000.
"For top executives to award themselves these kinds of compensation pacakages in the midst of this economic crisis is not only in bad taste, it's a bad strategy, and I will not tolerate it as president," Obama said.
Furthermore, additional bonuses can only come in the form of stock that can't be cashed in until taxpayer assistance is repaid, and companies receiving help will have to disclose all their "perks and luxuries."
"We're taking the air out of the golden parachute," Obama said.
The president also sent notice to Republicans on Capitol Hill that they should act quickly on his stimulus package, saying that he has "heard the criticisms of this plan that echo the very same failed theories that helped lead us into this crisis — the notion that tax cuts alone will solve all our problems."
"I reject that theory, and so did the American people when they went to the polls in November and voted resoundingly for change," the president said.
The bell for Round 1 rings.
Kaa-CHinnng!
That doesn't sound like he's seeking bipartisan compromise. What a Commie putz.
Obama’s wife made what...$300,000?? For doing what??
“We’re taking the air out of the golden parachute,” Obama said.
—
This I got to see.
Some should be used to help potential cabinet members and appointees to do their taxes, others to find out what happened to the first $350B given to the banks, at least a few to have vigilant auditing of the Secretary of State's husband's foreign income, and still others to audit the Obama Campaign's unprecedented $750M war chest.
We need a cap on Campaign Fundraising for Presidential candidates.
The Republicans need to pound 0bama mercilessly over all the pork. MERCILESSLY!
“It’s good to be the King!” - Barack Hussein “I Won” Obama
Good point....BTW..at the rate Zero’s going, GOP may be a lock to retake the House in 2010
I guess Bambi doesn’t get the separation of powers concept. He is President, but he doesn’t get to call the shots with the Legislature.
The dictator has spoken.
“”I reject that theory, and so did the American people when they went to the polls in November and voted resoundingly for change,” the president said.”
How many times does a President have to say “I won”? Because he is wording it differently, but that is the message in this sentence to the Republicans. He just parsed his words instead of bluntly stating “I won”.
Don’t underestimate the GOP’s ability to snatch defeat from the jaws of victory.
She made $300,000 for being his wife. The hospital did away with her position.
The stimulus bill passes tomorrow whether Republicans like it or not simply by having a vote in the Senate and House. Get YOUR party to stand behind you on this bill and lead the way Mr. President!!!
Whatta dork.
“Obama’s wife made what...$300,000?? For doing what??”
Pay for play.
Folks if you put caps on executive pay, company travel, entertainment etc. it is going to trickle down to the restaurant, hotel, and spas etc. As a result these businesses are going to have problems as will other businesses that supply them. Somebody is not thinking this true. This is what happens when governments interrupt the natural flow of things. I remember a few years ago when they put an excise tax on yachts and as a result sales fell through the floor and many of these businesses had to close.
Somebody explained that accepting this money essentially brought these companies under the power of the Treasury Department - which is part of the Excutive Branch. Therefore, the legislature never even gets involved.
NO PRESIDENT URKLE...THE PEOPLE ARE IN CHARGE. YOU WORK FOR US YOU MORON!
He’s such a poor sport....
lol.
I’m glad Mel Brooks didn’t make a sequel to ‘History of the World’ yet.
one of the first things i was asked the other day getting my taxes done was would i like to contribute 3 dollars to the presidentail campaign fund. not only did i say no but hell no.
I hope he keeps saying things like this.
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Remember those kiddy seats for cars which had a fake steering wheel for the child to “steer” with?
Think Obama sitting in the Oval office.
This loon couldn’t direct a radio set.
Then pass your damn bill Obama, take the credit when it fails, and leave the GOP alone.
tick....tick......tick......
LOL! Yeah.
it sounds like he’s reminding himself (and us) that HE WON !!
I’m not opposed to capping salary and perks for corporate execs who screw up their companies and seek a federal bailout. Actually, some jailtime would be ok by me.
But, will we next move to cap income/perks for Hollywood stars/producers/directors who make bomb movies ? They may not get a bailout (yet) but they do get so nice little tax incentives. There’s even a term for it “Hollywood Accounting” which effectively shows that no movie ever makes a profit, so no taxes necessary.
This is bizarro world. What kind of idiot thinks it was
“tax cuts” that put us into this mess?
Obama is looking and sounding desperate. Support for his stimulus fiasco is cratering by the day.
“”For top executives to award themselves these kinds of compensation pacakages in the midst of this economic crisis is not only in bad taste, it’s a bad strategy, and I will not tolerate it as president,” Obama said.”
Who does this commie RAT think he is? Hugo Chavez?
He has no say in the matter unless he wants to veto whatever congress passes.
Not only that, but I would imagine that it will lead to rookies being in charge of these companies ... never a good thing. No exec used to getting paid millions is going to stick around for $500,000.
Even that dimwitted McCain staffer Nicole Wallace said today that this is typical Obama, it will sound good to people but in the real world it will never work.
You guys just don’t think or read the details.
#1 - this does NOT apply to banks that have ALREADY taken TARP funds, so this is an empty feel-good pronouncement playing to the “responsible”
#2 - when you run your firm into the ground such that the only thing holding you out of the smoking crater is the taxpayer teat, then you might rightfully be considered a government employee and get the corresponding GS pay scales.
Gheesh, folks, you want them to get rewarded for perpetrating fraud, paid for by the taxpayers ?
I think he meant to say KING there....
Obama’s wife made what...$300,000?? For doing what??”
For being NObama’s wife.
It was over 300K I cannot recall if it was 317 K or 371 K.
BTW- Since Michelle left that ‘job’——it has NOT been filled by anyone else.
One has to wonder why, and if the real truth is that the ‘job’ for Michelle was created just for her. Back door campaign contribution, etc.
Where will Zero get the mega-bucks next time around after he has "impoverished" his sugar daddies?
Hmmmmmm. The emperor has no clothing? It’s amazing how many people in this country who voted for this schmuck are keeping their heads buried in the sand - not wanting to know about or hear anything negative regarding their messiah.
“FRee Market v. Obama “
Not that Obamachev would know, CEO award themselves nothing. CEOs answer to board of directors, compensation committees etc.
The Dalibama is panicking about his poll numbers already. Demonizing CEOs isn’t going to help.
Companies should think twice about taking TARP money. Bankruptcy would offer more independence.
We didn't vote resoundingly. Last I checked 45% of us didn't vote for this crap and considering that the media practically begged the people who did into voting for him, he's a bit cocky.
Two questions:
Where exactly in the Constitution is the authority for this granted?
Where exactly in the TARP legislation is this authority given to the President?
Just askin'.....
L
“I reject that theory, and so did the American people when they went to the polls in November and voted resoundingly for change,” the president said.”
How unifying! Why all this outrage at the GOP? You don’t need one stinking vote from republicans, you afraid to take ownership and responsibility for your leadership?
Uhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh!
What change would that be, Obama???
The 20 lobbyists you hired??
The ethics rules you waved to hire your lobbyists friends??
The tax cheats you appointed to cabinet positions???
All those Clinton cronies you hired???
Sounds like that’s the Change you bring to me.
Respect is earned you douche bag, all because the media’s orgy with you during the campaign and a bunch of ignorant people voted for you doesn’t mean you get respect. Pull your head out of your idealogical, sycophantic, myopic, self-aggrandizing, socialist a*s and get things done with some common sense!!
FU!!!!
they put an excise tax on yachts and as a result sales fell through the floor and many of these businesses had to close.”
That tax on yacht’s and lrge boats and expensive cars came from Jimmah Carter—NObama’s mentor and hero.
LMAO. What a rookie. He can't even have a decent - or indeed ANY - presser to answer questions. Such a joke.
The strong-arm Chicago way doesn't work in DC, pal. You blew chunks in the House, losing ALL Republicans with your arrogant "I won" attitude.
Now watch your attitude lose Republican votes in the Senate, possibly even some Democrats.
2 weeks into his administration and Obama is a miserable failure, a laughingstock. The more people know him, the more people reject him. The more they understand his socialist agenda, the more they reject it. The more people realize his appeasement on the world stage, the more they reject it. His polls are dropping like a rock. Even the fawning media aren't able to save him. He is an incompetent fool with delusions of grandeur.
Bring on 2010 & 2014! I'm ready to fight this punk!
“”I reject that theory, and so did the American people when they went to the polls in November and voted resoundingly for change,” the president said.”
Obama conveniently forgets the fact that he promised to cut taxes while running for President. Americans won’t.
OBAMA THE LIAR!
He lost this already and he owns the "Obama Depression".
I will not tolerate it as president,” Obama said.
I think he meant to say KING there....”
The first 4-5 days after Nov 4, all you heard from him and his lackies was NObama will RULE...rule...rule. Never the word LEAD.
He really thinks it was a coronation, not an inauguration.
Wish the Supremes had had the nerve to look harder at Berg’s lawsuit.
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