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Obama DOES NOT HAVE THE LEGAL AUTHORITY to interfere with and dictate to, the compensation paid to corporate executives.
This is an illegal intrusion into private business operation
Then again, Obama does not care about the Constitutionality of what he does.
He does not care about the rule of law.
Wouldn't the government bailouts give the government the highest percent of shares in the company? Doesn't that give them the authority to make decisions?
The only thing that keeps are country a democracy is that each citizen has a vote.
Are you implying that capitalism has taken our democracy away?
Capitalism in this form is eating away at our democracy. Corporate Fascism does not equate to democracy. The rules have to change as there have been no rules. I say "tough $hit" to Wall Street thugs. We don't need anything that is too big to fail. You live by the sword, you die by the sword. If we have not learned this lesson of what minimum regulation can do, this American experiment that is still relatively young, does not deserve to succeed.
Capitalism in this form is eating away at our democracy. Corporate Fascism does not equate to democracy. The rules have to change as there have been no rules. I say "tough $hit" to Wall Street thugs. We don't need anything that is too big to fail. You live by the sword, you die by the sword. If we have not learned this lesson of what minimum regulation can do, this American experiment that is still relatively young, does not deserve to succeed.
Oh yeah! I agree! Let the company totaly fail. Then let the executives find out how much of a salary and bonus they get!
How would you like your loan terms changed after the fact and you get no input or time to pay it off ?
Hi HappyTexan,
I think if you make a deal with the devil then you shouldn't expect the rules to remain the same. BTW, I don't think that's fair either.
As for the rules being changed midstream, I don't know if that's the case and in this instance I will have to plead ignorance. I would need to do more research on the issue.
As for your question about my loan terms being changed and having no input or time to pay it off I would honestly say that if that happened to me I would NOT be happy.
The bottom line is I am not an expert on the issue but I believe if those companies took a big bailout from the government (in essence, a take-over), then they should expect the government to do a little bit of dictating.
I'm a conservative and didn't approve of these bailouts from the beginning, and I also don't like to see these corporate thieves steal money in the way of huge bonuses.
I hope that I've clarified my situation.
BTW, I can disagree with anyone on this forum, left or right. It doesn't mean that I think I am the end all do all. My offerings are only my opinion and I certainly respect yours.
Yeah and we are the government remember "by the people for the people...." What our elected representitives are doing is foolish and vindictive and is hurting our asset.
Let me see if I understand you correctly. The bank executives ran the company into the ground. You want to pay them bonuses to keep them on for more of the same!
Capitalism in this form is eating away at our democracy. Corporate Fascism does not equate to democracy. The rules have to change as there have been no rules. I say "tough $hit" to Wall Street thugs. We don't need anything that is too big to fail. You live by the sword, you die by the sword. If we have not learned this lesson of what minimum regulation can do, this American experiment that is still relatively young, does not deserve to succeed.
I'm a conservative but I've always said that capitalism can even be taken too far. And I agree that the Wall Street Thugs have been raping the American people (they are STILL doing it if you watch the news). I heard on the news today that something like $300 Billion is being set aside to reward these criminals. $300 BILLION! That is near ONE BILLION dollars for every person in America, give or take! And this is a group of people that number in the THOUSANDS!
People, we are BEING TAKEN FOR A RIDE! We as Americans are being sucked dry!
I also agree that NOTHING is too big to fail and that if you live by the sword you die by it. Good post.
One caveat though... I have quite a disagreement with the current administration on many issues. So don't think I'm a shill for either party. I call 'em like I see 'em.
Let me see if I understand you correctly. The bank executives ran the company into the ground. You want to pay them bonuses to keep them on for more of the same!
Fire them all I DON"T CARE but who will you get to replace them for 200K per annum. If the goal of this pay cut was to punish they current leadership they would have fired them and hire replacements at market rate. They cannot hire anyone to replace these people at market rate any replacements would be paid 200K NO ONE WILL DO IT!
Wouldn't the government bailouts give the government the highest percent of shares in the company? Doesn't that give them the authority to make decisions?
Obama DOES NOT HAVE THE LEGAL AUTHORITY to interfere with and dictate to, the compensation paid to corporate executives.
This is an illegal intrusion into private business operation
Then again, Obama does not care about the Constitutionality of what he does.
He does not care about the rule of law.
Wouldn't a requirement of immediate and full payback of government funds, if not implemented, give him a bit of leverage concerning compensation?
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