Posted on 06/11/2009 7:53:52 AM PDT by pillut48
WASHINGTON (AP) -- The Obama administration says executive compensation must be better managed to prevent the sort of risk-taking that jeopardizes the economy.
Gene Sperling, who advises Treasury Secretary Timothy Geithner, said Thursday the administration does not want to impose caps on executive pay. But he also laid out for the House Financial Services Committee a list of guidelines calling on publicly-held companies to link compensation to long-term performance, not short-term gains.
(Excerpt) Read more at finance.yahoo.com ...
No one should make more money than anyone else. It’s just not right. There should be one fixed income for all, paid by the government. And there will be only one model of car to buy, and one toaster, and one jacket, and one toothpaste. This will save enough to pay off the debt. Everything manufactured by the government. Looks like some pretty boring times up ahead if this really plays out according to the Buffoon in Chief.
Watch the limit go to $399,999. Zero’s ego won’t let anyone make more than him.
The Republicans lost all moral grounds to oppose this the second they voted for anything that had any wage regulation language, minimum or otherwise in it.
And the people who did nothing and let it happen are just as culpable.
And we'll all pay the staggering price.
How about Congress itself? Why isn't the structure of their pay linked to long-term performance? Since they are public servants why aren't they at least working for $1 per year until things turn around?
As long as the women can make dinner in the kitchen, buy some clothes, and watch Dancing with the Stars....
Bread and Circuses. They dont care beyond that.
Once we have $5.00/gallon gas and they can't afford to go places and buy things, they will get mad.
Once we are forced to pay 5 times what we pay now for cheap coal fired electricity and their service is inconveniently interrupted by the stupid smart grid during a Wii game because the local solar plant is having a rainy day, they will get really mad.
Once their own job salary is set low because everyone is rich compared to someone else, they will get violently mad.
The problem is, we have to have the repressive socialist issues like those stated above before your average local voter dingbats will notice.
Meanwhile, the GOP is afraid to call the Democrats what they are: Socialists. Maybe that’s because there isn’t two cents worth of difference between the Demo-Socialists and the Republicans. We have taxation without representation. Where in the Constitution does the federal government have the power to dictate salaries and bonuses? Nowhere!
While it is true that the bank regulators can raise “safety and soundness” issues, and criticize a bank for excessive expenditures when capital is not adequate, it is a giant leap to have the federal government involved with setting salaries or fees for plumbers, lawyers, doctors, auto company executives, assembly line workers, firemen, police, et cetera ad nauseum.
Obama and his Demos in Congress are National Socialists. They undermining the Constitution, our freedom, and our country.
Meanwhile Politicians are RAKING in the cash....
Some research outfit came up with the stats that indicate that every government new-hire costs the USA millions (since most never get a real/private job thereafter). Obama ‘new-hires’ will reach hundreds of thousands times those millions, costing America an arm and a leg forever. Obviously Congress costs the USA trillions due to unintended consequences of their daily gaffes. So yep, the Fed gummit is due for a haircut.
How much you wanna bet they get rid of the reference to “Sunday” in the Consitution as a first order of business, and also “the year of our Lord.”
They hate those things being there, and they scream and shout that they have no religious significance whatsoever, that they are just formulaic.
LOL!!
More importantly, what of all the potential purchasers of corporate bonds in America? if one is witness to a hanging (GM bondholders) by an angry mob (obama administration), would one invest in the activity that brought on the hanging?
Amen! I've provided my services to a fortune 100 company for close to 20years now and have watched many a CEO come and go.
In my humble opinion....no one is worth 42 million a year, but that's just how I feel personally.
Currently that same CEO that reaped this compensation package has done a splendid job. I give him kudo’s....I guess until my job gets shipped overseas.
Anyhow, the government is too large, too intrusive, too greedy.
Whether it be Republican or Democrat congress or administration....I want them out of private business.
Period
I bet he caught it in the first place from Madonna.
Because too many people see them as “fat cats” getting their just desserts. They won’t be outraged until they are the “fat cats” themselves.
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