Posted on 05/13/2009 8:25:18 AM PDT by StopBigGovt
The Obama administration is ironing out the details of dictating compensation across the financial services sector, even at banks who have NOT received the burdensome TARP funds. Once done with the financial services sector, will Obama move on to dictating terms across the entire private sector?
I must have missed the part of the US Constitution that gives the POTUS/TOTUS the power to set salaries at private companies
It’s still the USA, but the ‘A’ now stands for ‘Argentina’.
Why hasn’t anyone tried to fight this little bastard in court yet? 95% or more of “his” ideas are UNCONSTITUTIONAL!
Gawd, we’re going to have our own little Sambo Chevez!
Let's take one of the major banks who did not take TARP funds and who passed the 'stress tests' without the need to raise additional capital. They apparently have their house in order. Should Obama be able to dictate to them as well?
Mugabe Light.
One who 'dictates' is by definition a DICTATOR!
OOOOOH BBBOOOOOYYYY.....this should make Wall Street really happy.../s
What obamma says does not have force of law, except for presidential orders applying to those firms that do business with the government, what congress does is a different matter. Corporation rules can be changed by law.
If true this will lead to a legal challenge. Anerica will find out whether SCOTUS is on the side of TOTUS or if it is on the side of America.
Market down 142 already. I wonder why???
So now TOTUS is “law”?
I haven’t seen any reference in this article to the courts being consulted, nor about any malfeasance other than executives making more than TOTUS thinks they “need” to do their jobs.
This type of govt intrusion into private business operations is called fascism, BTW. Except even fascists usually confine themselves to directing the operations of companies in which they have established a govt “partnership”- by force if necessary - as in TARP.
“The stock holders and boards have a decision to make, get their house in order are the government will do it.”
LOL. I agree that a lot seems amiss in corporate America. But that the gvt could put anything in order is laughable. Certainly the gvt will beat its chest and issue lots of orders. But the end result will not be order. It will be a National Socialist economic system.
155 points and dropping like a stone
zerO is gonna get a smack upside the head by Soros and Goldman Sach- unless this latest depression-inspiring market crashing inept meddling was timed and orchestrated to be in their best financial interests
Here is the original article:
http://online.wsj.com/article/SB124215896684211987.html
“The Obama administration has begun serious talks about how it can change compensation practices across the financial services industry, including at companies that did not receive federal bailout money, according to people familiar with the matter.”
175 now....2 minutes later
175 points
even the shills at Reuters seem to be speechless at this latest anti-business atrocity
the good news is it would be nice to see Captain Crunch figure out why tax revenue goes off the bottom of the charts when the top executive wage in the US is $249K
Sarah Palin’s daughter has a Lemonade Stand. This means she has more business experience than Barack Obama.
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