Dismay on Wall Street over Obama pay cap

Agence France Press ^ | 2/4/09 | Agence France Press

[Grim]

Wall Street and the business community gave a lukewarm response Wednesday to the US administration's plan to cap executive pay, fearing it may lead to a talent exodus and delay recovery in the finance sector.

The reaction came after President Barack Obama announced that executives of finance firms taking government bailouts would have their annual salaries limited to $500,000 dollars, a move aimed at protecting taxpayer interests.

[Grim]

Talent?

Where are they gonna go, anyway?

[a fool in paradise]

Let’s limit the salaries of former members of federal government too. Al Gore’s $100 ponzi warming scheme? The Clintons millions?

Double Standard?

[max americana]

The soup kitchen?

[MrEdd]

Dismay in general public over continued bailouts.

[oldbill]

tango foxtrot bravo

[theDentist]

Dismay on Wall Street over Obama pay cap

Dismay? Dismay?? HAHAHAhahahahaaaa! What'd these idiots think he was gonna do? Don't they read the papers? Haven't they noted the daily headlines about the excesses of the top management of companies? Didn't they know that was just the press laying the groundwork for this socialist sh**?

[steve-b]

The people who managed the companies until they needed a bailout might leave?

Let them have one last indulgence -- spring-hinged doors that will stay open long enough to not hit them in the ass on the way out.

[Carley]

Especially with that comment that these proscriptions were only the beginning.

[Welcome2thejungle]

They shoulda thought about all this BEFORE contributing to the freaking Marxist.

Got that Jim Cramer?

[Obamageddon]

"their annual salaries limited to $500,000 dollars"

Obama didn't mention salaries, he said "compensation". I take that to mean the entire compensation package.

[Carley]

Congress orchestrated the need for these bailouts.

When will bawney and dood get their punishment.

Emanuel, Gorelick, and assorted other pigs who fed at the trough of taxpayer money.

[dragnet2]

This is all a diversion, with the Federal government kicking up dust in an effort to deflect or obscure the cause of this melt down, when in reality, the Federal Government is the most corrupt of them all, and is the cause of this epic disaster.

[ml/nj]

Where are they gonna go, anyway?

Maybe to Fannie or Freddie? I hear they give eight figure bonuses.

ML/NJ

[April Lexington]

If they had thought that asking for bailout money would result in slashing their compensation they would never have lived so close to the edge. The banks would not be teetering today. They thought they could just loot and have Uncle Sam clean up the mess. Now its too late. The banks need the money to survive and the executives have to take the pay cuts or hand over the jobs the affirmative action crowd who thinks $500,000 is a lot of money.

Check mate! Socialists 1; Capitalists 0

[rednesss]

"Where are they gonna go, anyway?"

Have you seen those smarmy ads for that job website The Ladders. 100+K pay for 100+K talent?? Give me a freakin break, TALENT?? Itzhak Perlman has talent, not these clowns. These guys are to talent, what Kathy Griffin is to entertainment.

[ml/nj]

tango foxtrot bravo

These threads sure do pull out the latent socialists here on FR !

ML/NJ

[Badeye]

Same thought here.

[Boiling Pots]

They wholeheartedly supported him in the election.

Now they’re going to whine?

You get what you vote for.

I will not shed any tears for any Wall Street employee, no matter what their pay is.

[QenBirQeni]

This is the most riddiculous thing I have ever heard. What the hell? Why stop at $500K. This capping of CEO salaries is a dumb idea. Who the hell is
advising him?

[petitfour]

Somebody keeps electing and giving campaign contributions to these people. Don’t know who is worse—the dopes giving politicians money or the politicians.