Posted on 02/04/2009 12:03:52 PM PST by 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.
(Excerpt) Read more at breitbart.com ...
I wish all of them ill - Wall Street, Washington, the MSM.
Thanks Comrade Obama!
Instead of being punch drunk on some guy’s skin color, the north easterners should of researched a little better before voting. Florida sucks too and drank the kool/flavor-aid but the State usually does not get fooled twice unlike the NE which gets perpetually fooled.
Man, you nailed that one!
Salary cap = $500,000
Bonuses = $47 million
I am sure they can learn to flip burgers at McDonalds....one of the few companies not losing money these days. And, maybe the Wall Street Whiners can learn a little about business, too...
From each according to their ability to each according to their need.
0bamunism is a wonderful thing isn’t it?
The ONE has determined that others need it more than you - so what does he care if it ends up in a damaging hit of capability to some business?
They were probably just those filthy dirty profit taking leaches anyhow.
Zero wonders who would miss them anyway.
You bet they do. The insiders, those with special interest are propping up this government house of cards, all balanced on the head of a pin.
Latent socialists?
When the market is rigged so that the ‘captains of industry’ who produce poor results are guaranteed millions in compensation, I would think that true capitalists would be outraged, rather than looking for socialists under every bed.
While we are talking about compensation. Might has well start limiting and capping amounts of Welfare. No more increases for Congress as well.
Sacrifice and all.
Exactly.... like Hitler’s first supporters, they suddenly find that he’s throwing them into the grinder for his own political gain.
Does anybody really think that anybody - ANYBODY - is indispensible? Any CEO, Senator, banker?
On November 22, 1963, the most important position in the world suddenly became vacant. The world did not stop rotating. The sun came up. The republic continued.
You could remove every CEO, every senator, every banker, every anchor, and by the next week everything would be back to normal. They wouldn’t even cancel American Idol.
While it is none of the government’s business what an executive makes (unless it’s my tax money), it is also dumb for conservatives to be defending these crooks.
Amen.
It’s going to be interesting when the marxist’s desires are pit against a previously agreed-to compensation contract. Lawyers will get wealthy on that one.
Exactly. Almost no one on “Wall Street” has a base salary over $500K. It’s all in the bonuses.
True Capitalists are not whining for these Wall Street Losers. Their bad decision making is now coming back to haunt them.
Only the Business Socialist cabal...who believe that failed CEOs should continue to be compensated big bucks...are the ones supporting the failed CEOs and the Wall Street crowd
Maybe the Wall Street Whiners can move to India or Communist China....they are hiring...I know that because a lot of American jobs moved there
ANOTHER ONE !
Actually Mac, the way it works is that those of us who believe in FREEDOM think it's none of our business, and certainly none or any politician's business. I really don't care if GM gives its entire receipts to its Chairman of the Board. That's a problem for GM stockholders if it turns out to be a bad move, not for me. Obama & Co. have never run a five million dollar company, and now they're going to step in and run billion dollar companies? Get real!
ML/NJ
General counsels, marketing directors, human resources directors, etc. Everybody takes the hit.
I'd also love to hear how this applies to global organizations like Citigroup. Does the CEO of Latin America or Eastern Europe or Asia get his or her pay limited as well?
On January 20, 2009, it again became vacant and is expected to remain so for at least 4 years.
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