Posted on 05/14/2009 10:21:07 AM PDT by Sub-Driver
Edited on 05/14/2009 2:09:16 PM PDT by Admin Moderator. [history]
Congress should take up an effort to set limits on executive compensation not just for financial companies, but for all publicly held companies, House Financial Services Committee Chairman Barney Frank (D-Mass.) said Thursday.
Frank said that there should be limits on compensation "not in terms of dollars but in terms of rules," arguing that the current compensation structure enjoyed by financial executives incentivized risk-taking that led to the current crisis.
Gee Barney,
Perhaps we, the people, should put a cap on YOUR pay - Say, $1.00 per year.
Sure, just do a wage and price freeze on everybody.
*Just like Nixon.
How about limits on the net worth of Congressmen and their families?
great. we know where this is going; we are headed for a maximum wage.
>> “When you become a public corporation, you’re availing yourselves of a framework of law that gives you limited liability, protects you in various ways.”
Is this d!ckhead for real? ANY corporation, public OR private, is “availing itself of a framework of law that gives you limited liability, protects you in various ways”.
Furthermore, fagboy, “public” doesn’t mean YOU own it. Overreaching scab.
They are PRIVATE corporations, non governmental. It doesn’t matter if the corporation has one owner or ten thousand shareholders, that doesn’t give the government the right to interfere in the internal affairs of the company as long as it is not doing anything illegal. Barney Frank should be the last guy talking about appropriate compensation for work product as he is behind every financial crisis to date. Not only doesn’t he deserve a penny from the government based upon his past performance, but he should pay back his entire congressional salary since he was elected, with interest and punitive damages for his dreadful misconduct, non feasance and misfeasance in office.
Lobbyists
Environmentalists
Trial Lawyers
Professional Athletes
Union Bosses
Movie and Television
....are exempt
Whether you’re gay or not, Bawney Frank is going to screw you.
Don’t forget ACORN>
But government should have no involvement in what goes on in your household and behind closed doors, right?
Hypocrite
The Democrats truly hate America and want to ruin for the rest of us. What is this country coming to? God help us.
“The Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power. Not wealth or luxury or long life or happiness: only power, pure power. What pure power means you will understand presently. We are different from all the oligarchies of the past, in that we know what we are doing. All the others, even those who resembled ourselves, were cowards and hypocrites. The German Nazis and the Russian Communists came very close to us in their methods, but they never had the courage to recognize their own motives. They pretended, perhaps they even believed, that they had seized power unwillingly and for a limited time, and that just round the corner there lay a paradise where human beings would be free and equal. We are not like that. We know that no one ever seizes power with the intention of relinquishing it. Power is not a means; it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power.”
George Orwell, _1984_
Wouldn’t be better to have more limits on congress?
Hey, Fathead Frank! Who legislated this “framework of law” in the first place? Was it “we the people” or “we the politicians and our insider buddies”? If the old law isn’t right, THEN CHANGE IT. Don’t go adding more law just to gain control.
And deduct a $1.00 for every billion we spend above the deficit.
Meanwhile the unions who support Frank are demanding unlimited pay raises....
This quote shows that Frank is not only a Socialist, Homosexualist, but amazingly ignorant.
Private corporations enjoy the same “framework of law that gives you limited liability, protects you in various ways.” as public corporations. The only difference is that private corporations have a much more limited group of shareholders and are not publicly traded.
If private corporations did not have limited liability, there would be no private corporations, as they would remain either sole proprietorships or partnerships to avoid double taxation.
It is astonishing that the Chairman of the House Financial Services Committee does not know this!
As far as executive pay for public corporations go, I believe it should be limited only by what the shareholders are willing to pay the executives. I would favor legislation giving more power to shareholders (also known as owners) to control what executives are paid, at the companies they own, though.
You 1st.
10% cut in your pay, Drop your premire medical plan and take a lower cost MSA, eliminate your Pension and performance base your salary.
For every 1% out of balance the federal budget is, it equals a further reduction in your pay in the same percentages.
Then will talk...
Is he also asking for $$ limits for purveyors of small privately held companies that operate from their basements...
I’m just asking.
Sidenote:
Just wait ‘til the Hollywood types get a hold of this and realize that Sony Pictures, GE/NBC, CBS/Viacom/Turner, etc. are publicly held entities. And then wait until they get ticked and start cutting the pay of the ‘talent’ to be more in line with ‘corporate compensation’ guidance.
This will go over as well as mandating CFLs in the changing/makeup rooms.
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