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I have a better idea: why not put a cap on salaries of movie stars, entertainers, and athletes. After all, they really don't work for it, and it's unecessary to society. Let's impose a 150k a year maximum salary. Put the rest of it into a pool and raise the minimum wage to 20 bucks an hour!
You notice the left never has a problem with salaries when it comes to entertainment.
Could you give us a primer on the notion of "fiduciary duty"? And is defying "fiduciary duty" a suitable target for prosecution?
Merrill Lunch's Thain handed out bonuses out of the shareholder's money despite the fact that the company had written down tens of billions of dollars. Guys like him on Wall Street are showing NO RESTRAINT, even FINANCIAL RECKLESSNESS, in their actions. What would you have law enforcement and securities policy makers to do to protect the interests of shareholders?
What's wrong with this picture?
http://static.10gen.com/alleyinsider/~~/f?id=49834bdf796c7aef00a374d9&maxX=361&maxY=218 (broken link)
Last edited by ParkTwain; 01-30-2009 at 04:12 PM..
I have a better idea: why not put a cap on salaries of movie stars, entertainers, and athletes. After all, they really don't work for it, and it's unecessary to society. Let's impose a 150k a year maximum salary. Put the rest of it into a pool and raise the minimum wage to 20 bucks an hour!
You notice the left never has a problem with salaries when it comes to entertainment.
I think that people in the entetainment and sports industry make way too much money, but if people are stupid enough to buy expensive tickets to sports games to watch a steroid filled guy play a game, athletes will always make an outlandish salary. As for the movie stars, most are putting out assembly line crap movies, so I do not understand how the profits on these films make their salaries possible. Just goes to show that the bar is set very low for what is considered entertainment.
Stopping the Hemorrhaging of Our Economy- so we can begin recovering (New bill introduced- Sen. of the hour)
I would like to "nominate' Sen. Claire McCaskill as " Senator of the Hour".
Sen. McCaskill introduced a bill that would limit the amount of pay for executives of companies receiving bailout money.
No more executives walking out the front door with 18 Billion in bonuses while they knock on public doors asking for handouts!
President Obama took the first step towards addressing this flagrant abuse by stopping the use of bailout funds for purchasing a 50 million dollar jet. President Obama's statements also made it clear to execs that another 18 billion for bonuses would not be tolerated this year.
We can't start recovery when we are still hemorrhaging!
Thank you Sen. McCaskill for being a leader among the nation's triage team.
We have to stop the hemorrhaging of our economy before we can send it into recovery!
We have to let these bailed out companies know that we will not forget their actions during this difficult time for our country. If they can't earn our trust- they shouldn't expect to see consumers supporting them in the future.
I dislike most of government, and really do not want their hands involved in our markets. That being said, as soon as a company accepts taxpayer funds to bail them out, I think there should be strings attached, and cutting out ridiculous bonuses would be a great start.
Right on!
The Government's hands have been in the markets since Congress passed the Federal Reserve Act of 1913.
It's about time Obama orders an audit on the Federal Reserve Bank.
I am sure the Fed is run efficiently - but I'd like to see Salaries and Stockholder Portfolios.
This is exactly the "no strings attached" bailout as designed by Bush will at least in the top 20 of Bush boneheaded decisions. There is a lot of competition, but it could probably rise as high as 14 or 15 on the list.
But that was Bush bailout money designed to be given to the fat cats, one of the last 'mission accomplished' in the destruction of this country in the 8 years of arrogance, greed and incompetency.
WASHINGTON (CNN) -- One day after President Barack Obama ripped Wall Street executives for their "shameful" decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough.
An angry U.S. senator introduced legislation Friday to cap compensation for employees of any company that accepts federal bailout money.
B... b... bu... but, when you sell your soul to the devil aren't you s'posed to get something back in return?
"We have a bunch of idiots on Wall Street that are kicking sand in the face of the American taxpayer," an enraged McCaskill said on the floor of the Senate. "They don't get it."
Pot, meet Kettle.
A little geography lesson for the Dem Party schill....
In the meantime... (http://gatewaypundit.blogspot.com/2009/01/its-recession-congress-gives-lawmakers.html - broken link)
At the same time that President Obama is wagging his finger at Wall Street for their year end bonuses and auto executives are being harassed for flying on private jets, the Democratic-led congress just gave each lawmaker an extra $93,000 in petty cash to spend.
They say they need it to help their constituents and to help the economy. After all, it takes a lot of money to spend other people's money.
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Stopping the Hemorrhaging of Our Economy- so we can begin recovering (New bill introduced- Sen. of the hour)
