No
Posted on 02/05/2009 12:24:07 PM PST by AJKauf
President Obama, with Treasury Secretary Timothy Geithner by his side, announced that executive compensation for firms that accept tax payer bailout money in the future will be capped at $500,000 plus restricted stock. They insist that there will be no way to circumvent this limit by granting 7 figure bonuses. Executive compensation on Wall Street certainly needs to be reigned in, but I am not sure that this is the way.
Although I worship at the altar of capitalism, I have been embarrassed and shocked not only at the debased greed of my colleagues but also their total obliviousness and disregard for the economic suffering they have wrought. Much of Wall Street, deposed Merrill Lynch CEO John Thain, and former New York City Mayor Rudi Giuliani have been behaving like Marie Antoinette. ...
(Excerpt) Read more at pajamasmedia.com ...
No, we shouldn’t allow the Federal Government to ‘cap executive salaries’.
We shouldn’t all them to bail out companies, PERIOD.
No
I don’t know. Should we drug test welfare recipients?
You take the King’s shilling, you dance to the King’s tune. These guys brought it on themselves and they STILL don’t get it. They’ve made themselves the most hated group in the country—and hate is NOT too strong a word for it. Having their salaries cut is the least of their concerns. They should be worrying about grand jury investigations and getting beat up by strangers in the street.
as others have said, if you are a company asking for a federal hand out, you have to obide by the rules they impose. These companies were STUPID to do so. They probably thought that since they were big backers of BaCrack, he’d be nice to them and let them do what ever they wanted with the money. Oh how wrong they were. If they are smart, they’ll give back the money.
No. No socialist caps on compensation. No socialist bailouts. No socialist control of private industry. Nobama!
This sounds stupid and scary but then again, did they think this money was free?
Of course we should allow the federal government to cap execs’ pay who wait bailout money.
It will, if enforced, allow the best talent to go to companies that DO NOT accept bailout money. And having no companies accept bailout money, after all, should be the goal.
There is no point preserving capitalist ideals in this socialist scam— in doing so we are giving our tacit approval.
I agree that “No” is the correct answer. But I would add that if the Dems want to try to go down that road we should just stand aside & watch the trainwreck. Some of their biggest donors are Wall Street types.
Cap ‘em, hell, they should get NO salary. Zip, Zero, Zilch.
If your plumber “fixed” your plumbing the way these guys “ran” the financial system......or your mechanic, lol.
>>Nobama!<<
Well said!
Nothing is free, everything comes with a price.
If the companies weren't bailed out the executives would have been unemployed. Why not just fire the exec's and replace them in a manner similar to the Fed's taking over an insolvent bank?
Well, it's better than executions.
From what Hannity just said, THIS WILL NOT APPLY THO THOSE WHO ALREADY RECEIVED THEIR BAILOUT. I guess they still honor a scrap of the Constitution after all and don’t want to raise the ex post facto flag - probably afraid it could be used to go after their back taxes or something.
It's not?
True...these Wall Street Welfare Queens took from Uncle Sam...now Uncle Sam gets to dictate rules. Execs who took Bailout money should be under some sort of compensation restriction.
I am surprised how many so-called conservatives have gone so Socialist....they want to let these guys collect unlimited salaries while on the government dime.
Exactly
A lib friend of a neighbor of mine WAS making 1.5 million at his (now government owned) company p/y. His salary will be cut to $500,000. I heard him say to his wife...”maybe we shouldn’t have voted for Obama”. True story.
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