Obama’s cap on CEO pay strives to end era of excess

Christian Science Monitor ^ | February 4, 2009 | By Mark Trumbull

[Oldeconomybuyer]

Beware of the media-political complex.

[BenLurkin]

The Board of Directors sets compensation. If the major shareholders found it to be “excessive” then the Board would withhold approval.

[brownsfan]

“The Board of Directors sets compensation. If the major shareholders found it to be “excessive” then the Board would withhold approval.”

Provided you don’t take taxpayer’s money. When you beg for a handout, the rules change.

[wiseprince]

Bad precedent

[org.whodat]

Top bankers “convinced the world that they were the smartest human beings on the face of the earth…. It turns out they weren’t all that smart.”

He did hit a home run with that one, but they still have the loot?

[dfwgator]

Bad precedent

Bad president, too.

[Wally_Kalbacken]

Exactly - note to self: Don’t take TARP or any other federal assistance with strings, because the strings will f*** you up, sooner or later.

[VA_Gentleman]

Good grief, a $500K on annual pay. No mention of stock options, etc. That will be easy to get around.

[refermech]

Not to worry, their pay will be going down anyway because the banks will fail.

[Pietro]

I knew this was coming, and in a certain sense these guys brought it on themselves but still its a terrible precedent and deeply disturbing.

[BenLurkin]

Really?

Who makes the rules?

[jennyjenny]

Am I right in that it was perfectly okay for these guys to give money to obama and contribute to his inauguration, but not okay to pay themselves a bonus?

[byteback]

Goldman announced that they’ll return their TARP money....others to follow. Good deal if you and your employer are cash rich....not so good if you want a loan.

[Major Matt Mason]

I don't like the fact that incompetent bankers were rewarded for screwing up, but this is a terrible idea. How long before the government decides what everyone can make, not just executives? This is un-American, period.

[Oldeconomybuyer]

Will this administration put a cap on salaries and expense accounts for the following executives:

UNION LEADERS who benefited from the auto bailout?

SCHOOL ADMINISTRATORS who stand to benefit from the “stimulus”?

LEGISLATORS who receive State bail out funds?

ENVIORNMENTALISTS who receive “stimulus” money to study the green toed frog?

[Waco]

How much is a good pitcher worth nowadays, a quarter back, a singer with a BIG nose? Makes ya feel real good, don’t it?

[org.whodat]

Who makes the rules?

The same kind people who made rules that allow corporations. And according to the constitution they have the legal authority to change those rules.

[jersey117]

Am I right in that it was perfectly okay for these guys to give money to obama and contribute to his inauguration, but not okay to pay themselves a bonus?

You nailed it! This guy is dangerous. He's ringing in socialism in faster than I thought he would. Joe the Plumber had it 100% right.

[griswold3]

“only the beginning of a long-term effort”

Remember Obama there is no ‘golden handcuffs’ to keep talented executives at these companies. Those preferred stocks the taxpayer now holds could end up junk.

[thulldud]

Who makes the rules?

He who has the gold, makes the rules.

And, he who has the guns, has all the gold he wants.