Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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.
I do believe you nailed it. If you sell majority control you can't complain when they want to make the rules. If you want Obama out of the boardroom don't accept his check.
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.
I'll agree with you on that Berneke. Let the Devil change the rules and watchout.
But..if they can change the rules midway with the banks and, in effect, modify that bill without really modifying it, what's keeping them from doing it with let's say this healthcare reform bill or the cap and trade bill or any other bill ?
Pass a bill but later on interpret it differently or add authority that was not there before without a true amendment to it ?
I'm no fan of the banks nor was I in favor of the bailout but the government doing this could lead to a dangerous precedent down the road with something that will affect us, the taxpayer. Then how will we feel ?
Having read all the comments here, this conservative still has to agree with Berneke (the Berneke here on C-D). These companies were not run by teenagers. These were mature executives who knew they were dealing with the devil when they accepted help from the Puppetmaster Supreme. Dance on strings is all they can do now. I'll watch the show but they need not ask for my sympathy.
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...
No, the goal of this pay control is not to punish anybody, but to let them know, the bail outs weren't meant to be bonus giveaways. It was meant to help the economy and the businesses that depend on these institutions, not so that the CEO could buy another yacht.
First, the money went into fattening the cats (of course, the tin foil hatters believed we'd be living in caves if the banks weren't bailed out). Now after you approved of fattening them, you want to alter the contract midstream?
Apparently, history only belongs in the books. It is tin foil hatters that scare me the most. They can avoid accountability by simply being ideologues, screaming from the sidelines.
As for the bail outs, I wanted these institutions to be (temporarily) nationalized so tax payers are the stock holders and dictate the policies, not the fat cats that you seem to have a soft corner for.
Administration plans big pay cuts at bailout firms - Yahoo! News (http://news.yahoo.com/s/ap/20091021/ap_on_bi_ge/us_obama_executive_pay - broken link)
"The Obama administration plans to order companies that received huge government bailouts last year to sharply cut the compensation of their highest paid executives, according to a person familiar with the decision."
Excellent. Why should executives and CEO's be getting bailed out when they are in business because of OUR tax money?
This is the first time that I agree with the Obama administration.
No, the goal of this pay control is not to punish anybody, but to let them know, the bail outs weren't meant to be bonus giveaways. It was meant to help the economy and the businesses that depend on these institutions, not so that the CEO could buy another yacht.
Yeah that makes a lot of sense tank a company to make a point. LOL
Administration plans big pay cuts at bailout firms - Yahoo! News (http://news.yahoo.com/s/ap/20091021/ap_on_bi_ge/us_obama_executive_pay - broken link)
"The Obama administration plans to order companies that received huge government bailouts last year to sharply cut the compensation of their highest paid executives, according to a person familiar with the decision."
Excellent. Why should executives and CEO's be getting bailed out when they are in business because of OUR tax money?
This is one where I give a huge to the Obama administration.
There is an old saying, "You take the King's shilling and you are the King's man." these companies took the bailout and are now owned by the government.
I approve of limiting executive pay. These salaries are mostly the result of collusion between executives on each other's boards of directors. I believe this to be illegal but nobody has investigated the crime.
IMHO the executive pay in the millions of dollars should be government limited by a maximum income tax rate in the mid to high 90% level. Let the people that own and run the country pay for the maintenance out of their own pocket.
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!
This is only true in your imaginary country with 300 inhabitants.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
