Posted on 10/22/2009 4:32:33 AM PDT by SeekAndFind
If they did buy munis, then essentially the poor and middle class in New York will be taxed, and they will be given the money.
Well, obviously the Obamanoids threatened Kramer enough to get him in line. Never understood how a libtard who makes millions in the stock market reconciles their good fortunes.
If you take the king’s shilling, you do the king’s bidding. If they didn’t want politics overriding business decisions, they should not have taken the government bail out money.
“Hey, there’s no God-given right to work at those companies,” Cramer said.
Actually, there is a God-given right to the pursuit of happiness, which equates to a mutual private agreement between an employee and the employer.
TC
Ignoring for a moment the whole issue of "How much, if any, government intervention in bailing-out/running private companies is appropriate", the folks whose pay is being restricted have been instrumental in running their companies into the ground.
Maybe "second-best" employees would actually do a better job.
At least make sure not to hire any f****** Harvard MBAs. They're the Kiss of Death.
There were probably a few top people at these companies that made the bad decisions. Those people deserve to have their pay eviserated or, in some cases, prosecuted. However, there are likely many hundreds, even thousands of talented, dedicated employees that make up the backbone of these companies. If those people get shafted, they will leave for elsewhere. As a result, these companies will be a virtual shell of themselves.
This whole issue proves, yet again, that the Feds had no business getting involved w/ the private sector businesses.
But Goldman Sachs and JP Morgan (who probably got the greatest benefit from the TARP) used “our money” so effectively, they have now paid back the TARP, yet continue to pay large salaries. But their salaries aren’t regulated. Something smells like cronyism to me. Plus the fact that with the other companies, there’s no formula for reductions, it’s just a subjective determination by some czar what each will be allowed to make.
Flashback April 01, 2009
RE PAY CUTS- Neil Cavuto Gets Heated with Congressman Alan Grayson. http://www.freerepublic.com/focus/f-news/2220221/posts
Until SOMEBODY stands up to this abuse of power, it will continue.
If they don’t fight it, they deserve what they get. This is not legal and the Czars should NOT have this power... they should be advisors only.
“If you take the king’s shilling, you do the king’s bidding. If they didn’t want politics overriding business decisions, they should not have taken the government bail out money.”
Very well stated. I don’t know why others here don’t get it - I believe it’s just the firms that have taken bailouts that will be restricted in what they pay their “best and brightest” (i.e., those who helped run their companies into the ground).
So if they don’t want their compensation regulated, don’t take the bailout! If the free market ran its course, these people would have likely been out of work anyway! At least they still have their jobs, even if at a reduced salary. That’s more than many of us have.
Wow. What a video.
That is the creep that told all Republicans to die quickly... he looks strangely a lot like Axelrod. Greasy and dirty and used-car-salesmanny.
Yuck !
Man, that’d be a REAL shame.
Welcome to the USSA, this will surely help the economy.
Pray for America and Our Troops
If the government bails out all the news organizations it can cut the salaries off all the reporters like Olberman by 90% !
LOL I would like to see how that changes their political tune.
Yeah, maybe they can go to China and “help” the economy there.
The court jester arguing for dictatorship. Where does the government get the authority to dictate incomes of individuals at private businesses?
America at this time is lost, we have to get her back!
Cramer admits to making millions. He should no longer be paid by the network and live off of his millions while he works.
Therein lies the problem. Yes, Wall Street screwed up and they shouldn't have taken the TARP money but the government (Freddie and Fannie) had a big hand in causing the financial crisis as well. If they are dictating pay for Wall Street jobs today -- it could be Main Streets job tomorrow. This is a slippery slope. Do we really want to go down this road?
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