Posted on 01/30/2009 11:55:19 AM PST by Red in Blue PA
WASHINGTON (CNN) -- One day after President Barack Obama ripped Wall Street executives for their "shameful" decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough.
An angry U.S. senator introduced legislation Friday to cap compensation for employees of any company that accepts federal bailout money. Under the terms of a bill introduced by Sen. Claire McCaskill, D-Missouri, no employee would be allowed to make more than the president of the United States.
Obama's current annual salary is $400,000.
(Excerpt) Read more at cnn.com ...
The better answer is to not hand out bailout money.
My I suggest that you should be opposed to bailouts AND salary caps? When a used car salesman sells you a rusted out lemon, don't buy the undercoating with it.
Agree.
But if there is bailout money, terms should come with it. These are those terms.
ah, fascism... sigh... those were the days.
The left has been nostalgic for the days of Wilson, Hitler, & Mussolini for decades.
The whole point is, they won’t stop there.
Before you know it, all executive salaries will be controlled with the excess going to the government to hand out to who they see fit.
It’s classic Marxism 101. And once it starts, it will keep on going.
I’m all for it, but then the corporate whores (who gave tens of millions to Obama) ought not squeal like stuck pigs.
Just sayin’ that if you take the money you can kiss your autonomy goodbye because the overlords will treat you like the oil company for nothing more than political expediency and to save their sorry bacon.
“My”=”May”
That’s what the Constitution is for...
but the USSC has ruled that ANYTHING could qualify as “interstate commerce”, so, in effect, the whole premise of the Constitution is null and void.
This bill is directly coming from Obama through his tart McCaskill, she’s his go to in the senate now after laying down flat for him right through the primaries.
What we’re seeing is what we knew all along.
The only reason to give these bailouts is so that they could have control over the people receiving them.
It’s the same reason to have socialist healthcare.
“Before you know it, all executive salaries will be controlled “
Sorry. This only applies to those taking bailout dollars. You can put your tinfoil hat away.
And who started handing out millions in cash to Wall Street corporations? A Republican administration. I would say who needs Democrats when Republicans do the job for them.
That minor detail appears to have slipped past practically everyone posting on this thread.
More hate-filled bigotry from the left.
They didn’t complain when Clinton got $20 million for brokering the Dubai port security deal.
The survival of America as a free, capitalist country depends on the GOP senators standing firm on this issue. Our future is in the hands of McCain, Snow, ...
It's time to pray.
I'm with you, however I would go further and, as a condition for getting the bailout, I would demand the resignation of every executive who was responsible for the poor decisions leading to the need for a bailout in the first place.
Amazing that people cannot even be bothered to read a few lines. Or if they do, their reaction is so knee-jerk to be naturally opposed when they should be for this common-sense legislation.
.....and I would insist on the gallows for the worst of them.
But I don’t think that would ever make it through an Obama administration, call it a hunch;-)
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