Posted on 04/06/2009 3:16:24 AM PDT by Scanian
your brains or your signature will be on this resignation letter.
That's what Treasury Secretary Timothy Geithner might as well be saying to the next corporate CEOs he intends to muscle out of their posts. Bloomberg reports Treasury's highest-ranking tax evader said he is gearing up to turn senior management and boards of directors at banks that require "exceptional" assistance from the U.S. government into roadkill.
"If in the future, banks need exceptional assistance in order to get through this, then we will make sure that assistance comes," while ensuring taxpayers are protected, Geithner said today in an interview on the CBS "Face the Nation" program. "Where that requires a change in management and the board, then we will do that." [...]
"Where we've had to do exceptional things," the government has replaced management and boards of directors, Geithner said. [...]
The Treasury secretary pledged to enforce congressional legislation that limits pay at companies receiving government loans. Geithner said the Obama administration has no intention of letting banks get around the rules.
"Our obligation is to apply the laws that Congress just passed," he said. "We want the American taxpayer's assistance going to generate greater lending, not providing excess compensation
(Excerpt) Read more at spectator.org ...
Tyrany gonne wild.
Neither Geithner nor Obama have the Constitutional authority to oust the CEO of any non-governmental business.
But then Barry has not yet shown us that he is even meets the qualifiations to be POTUS.
Scary! Truly scary. Where will it end? Or will it?
I’m waiting for Barry and Geithner to order some CEO to step down and for that CEO to have the guts to say “Screw You”. What could Barry do, put him in jail? If he did then we would now have political prisoners and the press would have a field day.
Ya know, they keep violating the Constitution over and over and get away with it because no one challenges their authority.
It won’t end if all people do is talk about it and then let it pass.
Turn senior management and boards of directors at banks that require “exceptional” assistance from the U.S. government into roadkill,ant people say the mafia is gone obama & Co. act more like mafia every day.
It is the least a communist can do.
LLS
The presstitutes would cheer their dear leader.
LLS
I wonder if this isn’t a good thing; perhaps even part of their strategy.
Banks that can are trying like hell to give the TARP money back, whether the government is willing to take it back is of great interest to me. Aside from that, who is ever going to ask for help again? It should encourage all companies to do anything, including bankruptcy, to avoid dancing with the devil. Bankruptcy is a better fate than prostrating yourself at the feet of Obama.
No worse. Don't forget Timmuh is in charge of the I.R.S.
Lord Zero’s administration is screwing with some awfully powerfull people. It may come back and bite him.
Michelle Bachmann already asked Geithner where in the Constitution he had that right and Geithner smugly non-answered that the Congress gave him that right.
He might as well have admitted that the Congress disobeyed the Constitution and he was their accomplice.
Putting aside the fact that we shouldn’t be bailing out the banks, taking public money makes the banks into public enterprises. Let the employees and executives at the banks be paid on the government salary schedule.
Where else are their unique talents at running banks into the ground going to be employed ? Do they really think there are jobs in other banks just waiting for their exhalted selves ?
Banks=epic fail. Let them go; we wont miss them.
Much like when you're over extended in debt, the last thing you need is more debt.
Simple, cut off the gravy train. You unde4rstand he's (should that be He's?) using our money to lure companies in and then banging them over the heads w/ it.
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