...
It’s hypocritical.
Did Obama's campaign manager go on welfare like these banks did? No, he didn't. As a result, He's entitled to make as much as he damn well pleases on any legal business deals in which he involves himself.
Agreed.
Bawney Fwank said that this cap could encompass ALL businesses.
Barney Frank: TARP’s comp curbs could be extended to all businesses
Would be part of broader bill limiting hedge funds, credit-raters, and mortgage securitizers; ‘deeply rooted anger’
By Neil Roland
February 3, 2009 3:01 PM ET
Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said.
“There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today.
He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies....
http://www.financialweek.com/apps/pbcs.dll/article?AID=/20090203/REG/902039977/1003/TOC
It' kind of funny, many of these banks were forced to make the unwise decisions that caused them to be in a position where they could be coerced into taking taxpayer money to survive and have gained control over private enterprise.
Now we can call it welfare and actually support the takeover because it's our money.
Got to give 'em credit, it was a brilliant plan to get the peoples support for fascism