AMERICAblog: Obama to announce executive pay limits
JackDallasQueer
· 9 months ago
Right...I have like $185 in my checking account today which has to last till the end of the month for everything and some of these bail out execs are staying at 400 a night hotels for a conference on my tax money. And most CPAs will tell you that these creeps pay ZERO income taxes. It is time to seriously start organizing a national tax strike. Why the hell should I have to pay ten grand a year to these people when they make millions. Socialism? Why the hell not. Capitalism has not worked for most of us.
quark
· 9 months ago
Off topic --- but important as hell
Our dear ally Great Briton has decided it is OK to deport a gay man to a country where he will be executed solely for his sexual orientation. His "crime" that merits this deportation? Staying in GB too long because the hearing process went on for years.
... and the country where his very being is so illegal he would be executed for it? The new improved Iraq - where we the people of the USA created a theocracy closely aligned with Iran's Shiite Ayatollah's.
No Iraqis should be returned to that country who do not want to be returned, if a country believes in human rights. It's sickening to hear Rethug cheerleaders on the MSM touting the meme that Iraq is a "democracy" now when it's no such thing. There's no "victory" in Iraq, just a change of one repressive govt to another.
Older_Wiser
· 9 months ago
But the execs will be yelling "socialism" at the same time they're getting fed at the taxpayers' trough. Well, tough, you overpaid morons, we're the BOSS now.
I agree with Jack, and there are plenty of folks out there in his shape--most, I would suspect, living from paycheck to paycheck, or in the case of fixed incomes, eking out food on very little after paying first of the month bills.
When I see articles about the rich thinking of nothing of paying $400 for one meal, I realize, hey, that's more than what we spend on groceries each month, trying even now to get our grocery bill down by cutting corners, buying less expensive items, and cooking from scratch entirely. I'm making broccoli soup for lunch; I can make soup out of most anything in the cupboard and freezer.
It's 20 degrees where I am in NC (beginning of foothills), lower with the wind chill factor, and snow on the ground which I predicted yesterday (how about just going outside and looking at the snow clouds building up?), but the "meteorologists" on TV completely missed it, saying it would stay in the mountains. With 2 inches on the ground in Charlotte, and no salt or snowplows at the ready yesterday, it's socked in, with 40 traffic accidents already this morning. : )
Yankee
· 9 months ago
AIG and Detroit Automakers? Detroit is getting squat compared to the crooks at AIG.
This is a pony show. These banksters need to be nationalised and thrown out on their bums.
Older_Wiser
· 9 months ago
AIG is doing nothing but compensating themselves for all those worthless credit default swaps out there. Those are the 800 lb gorilla in the room, and most on Wall St. have indulged in them. $55 Trillion in US credit default swaps, with $15.7T backing them up (hundreds of trillions over the globe), and there was a report on Bloomberg yesterday that said corp bonds are losing value. Easy to figure that one out.
Angellight
· 9 months ago
It is patently obvious and a derelict of their duty to the public, that the GOP are working for the next elections and not the peoples' economic crisis looming so large at this time. Some Republican Pundits charged with this task, call the Stimulus a stinking corpse, instead of what it is -- a valuable work in progress for this country. Like any creation, in the early stages, it is chaos and not fully formed, such as a fetus, a painting, any work of art, and yet the artist ploughs on knowing the beauty to be eventually created. Why in the world, would some Pundits criticize the early form instead of giving support, is beyond the pale, especially when they know to publically criticize it is to get the ball rolling to derail it. May be they do not love this country more than their party affiliation!
At this critical stage in our rapidly-crumbling economy, it would seem that the Republican Senators would do everything they can to do something, to tell the American people, I am on your side, and not always to quickly say no to the middle class and the little people; no to schools, education, infra structure, green jobs, all of which have too long been denied and neglected and Yet, always yes to the Special Interest Groups, to wars, to big oil and their tax breaks .
It is a sad fact that for average American citizens, the GOP is becoming the party of NO! We can not depend on the GOP to help us, they never have. In 2010, we will know what to do.
bob_h
· 9 months ago
Why don't we require that all future bonuses be in the form of subprime CDO's?
Older_Wiser
· 9 months ago
Over at Bloomberg.com, they're reporting $500,000/yr for those firms, along with stock compensation which would not be allowed to be exercised until the firms get off the dole. From that story:
Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos. awarded their employees a cumulative $145 billion in bonuses from 2003 through 2007, according to estimates based on company reports.
That’s more than the annual gross domestic product of the Philippines. Lehman has since gone bankrupt, while Bear Stearns and Merrill have been taken over by commercial banks.
Also over at Bloomberg.com is a story on Daschle's ties to a private equity firm, and how many using the revolving door system get rich from their ties to companies when they leave govts, and the return to those companies in the form of influence peddling, effectively making our elected reps simply odious lobbyists, of course. Disgusting.
UncleGlenny
· 9 months ago
Glenn Greenwald has been tearing into this recently.
. Americans can't imagine this, but the Europeans and some British overseas colonies used to bank with the government. The Post Office used to act as a sort of Savings & Loan there up until they started privatizing and deregulating everything, like that idiot Reagan. Let's all just move our accounts to the Federal Reserve and eliminate the middle-man. Credit us with the profits or put them towards fixing this country and taking care of the less-fortunate, like REAL Christians. End socialism for the rich, fight for capitalism of, by and for the rest of us! Economic democracy, what a concept! .
Older_Wiser
· 9 months ago
Well, to put it bluntly, I won't be happy until I see our elected reps and Wall St. sucking the collective cock of the public. I mean where is capital actually created? On the backs of working people, after all. Those yahoos create absolutely nothing but paper and put their own value on it, creating enormous profits at our expense. It's all fake, people. You can blow up a balloon, too, making it a pretty airish toy and nice to look at, but eventually it deflates and becomes what it once was--just a piece of rubber.
oh_yeah
· 9 months ago
Make do
Older_Wiser
· 9 months ago
Pssst, Chris! The Pedant says it's "make do" not "make due."
Jon
· 9 months ago
How about limiting the CEO's salary to 10 times that of the lowest paid employee of the company? That way if the CEO wants more money, the rest of the employees get more too. :-)
erwin
· 9 months ago
Jon they will not work they got to use others hard working effort and steal millions in the name of bounce. another point if he gets million in the name of bounce it is our money from mortgage interest and credit and investment money and bank deposit they invest it for 12% interest and give us 0.5% interest that is how their money comes from they are just smart in how to steal like dick cheney
punky jo
· 9 months ago
My fiance is retired from airforce after 28 years very patriotic this seems to be turning to dictatorship instead of free enterprise!!! We don't make very much money and this feels awful that executives make soo much money but at the same time this is america and should be free!!! What next is going to happen what about movie stars and big sports they make loads is the government going to press them too!!! Why not start with how much raises the sennate & representatives make they never get turned down on their raises or their retirements. Why haven't anybody from Obama's administration checked out the disaster in mo,ky,ar and surrounding states to see what they can do for them my daughter is in mo and still with out power!! with her family and infant !!!! People are dying there!!!! Why aren't they covering this more and why aren't they getting help!!!!
Jayson
· 9 months ago
Just another case of the government not doing something obvious when they are bailing out all these companies. If they try to apply this to companies who already have received money they will be doing something that they won't allow the private sector to do. That being that they are giving themselves the ability to re-write the terms and conditions of the loan of this money. Just because the government failed at their job when they failed to provide proper oversight and to include provisions like a celing on CEO pay doesn't give them them the right to go back and get a do over on the terms of the loans already made to corporations as long as the corporations are meeting the terms of their loan.
Skip Murray
· 9 months ago
Let's do a quick recap: A company director loses his company major monies, puts jobs at risk and is rated by his performace (accompanied with MBA from X University), Job badly done and naturally he loses his job. This is something that I would understand same as an employee who performs badly. There will be no reward for a bad job. Now, if the question is "well, we must keep highly motivated, skilled upper management for fear of these folks offering their servides in "unregulated" financial instituations" Ah, when I hire new employees I question as to their last employment and how well they performed. Surely, an employee who loses BILLIONS OF $ would not be of great interest in acquiring his skills...........................Whoops, no a valuable Capt. of Finance is a valuable asset. Give the money back and hang your head in shame.
erwin
· 9 months ago
You right I consider when they perform bad and get bounce money in millions it is stelling from employee money and hardworking.the $500,000 limit is too much we will see every one will write a check for hime self in that amount and they may creat fake CEOs to get the money, I consider it stelling, and this FAT LAZY CATS got used to stell and get easy money with out even work. suck the blood of hard working employee but no one can stand against him may lose his job if stop the CEO from stelling
NewJersey
· 9 months ago
If Obama worked for me I would have fired him already....
erwin
· 9 months ago
Good Job mr president stop those fat cats to abuse american people, some one may ask how?. USA has more than million radio show all they do just talk, shame shame, no one wants to stop them from taking our money except the very bracve president Mr Obama. I think every time they pay the fat ass CEO they have to raise my mortgage interest or interest on my credit card or play around with our live saving investment. If we think about it some one like Sara Palain got $150,000 from the senate Macain it was our tax money or not. i dont want my money gose to a pocket of a theif she already stills alot from Alska oil. what you think Macain if you think they need money why you didnt pay them from your poket so she buys another dealer ship for her husband, wow America wake up.
erwin
· 9 months ago
Why Dick cheney after 8 long years remeber American Safety. some one ask hime what he did, when terrorist attacked us. why for 8 long years they couldnt solve this problem and he and Georgy left the country in a mess. I know what dick Cheney was doing, he was busy growing his company and making more money by investing in the oil of middle East and they call him in Iraq Mr 5% because he taking %5 of oil of Iraq during the first 3 years of invasion of Iraq of course he will deny it but any one been in Iraq or Iraqi them selves in the business of exporting cruel oil knew that, Then Mr cheney dont try to be an expert for nothing. please pay your taxes for the last eight year. I dont think as vice president you did any thing good except making your fortune huge from oil export.
Steeltown
· 9 months ago
In my opinion its not the salary that is the issue. It's the bonuses. I can understand how they have million dollar salaries when I look at the size of the companies these people are supposed to run. The major problem area is when the CEOs get 10,30, 50,100 MILLION in bonuses and the companies are losing money. Personally I think CEO's bonuses should be some percentage of company profits. With stock options, CEO's will always be able to 'get over' regardless of how the company is doing in reality.
All Comments
Our dear ally Great Briton has decided it is OK to deport a gay man to a country where he will be executed solely for his sexual orientation. His "crime" that merits this deportation? Staying in GB too long because the hearing process went on for years.
... and the country where his very being is so illegal he would be executed for it? The new improved Iraq - where we the people of the USA created a theocracy closely aligned with Iran's Shiite Ayatollah's.
http://www.guardian.co.uk/uk/2009/feb/03/gay-ir...
I agree with Jack, and there are plenty of folks out there in his shape--most, I would suspect, living from paycheck to paycheck, or in the case of fixed incomes, eking out food on very little after paying first of the month bills.
When I see articles about the rich thinking of nothing of paying $400 for one meal, I realize, hey, that's more than what we spend on groceries each month, trying even now to get our grocery bill down by cutting corners, buying less expensive items, and cooking from scratch entirely. I'm making broccoli soup for lunch; I can make soup out of most anything in the cupboard and freezer.
It's 20 degrees where I am in NC (beginning of foothills), lower with the wind chill factor, and snow on the ground which I predicted yesterday (how about just going outside and looking at the snow clouds building up?), but the "meteorologists" on TV completely missed it, saying it would stay in the mountains. With 2 inches on the ground in Charlotte, and no salt or snowplows at the ready yesterday, it's socked in, with 40 traffic accidents already this morning. : )
This is a pony show. These banksters need to be nationalised and thrown out on their bums.
At this critical stage in our rapidly-crumbling economy, it would seem that the Republican Senators would do everything they can to do something, to tell the American people, I am on your side, and not always to quickly say no to the middle class and the little people; no to schools, education, infra structure, green jobs, all of which have too long been denied and neglected and Yet, always yes to the Special Interest Groups, to wars, to big oil and their tax breaks .
It is a sad fact that for average American citizens, the GOP is becoming the party of NO! We can not depend on the GOP to help us, they never have. In 2010, we will know what to do.
Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos. awarded their employees a cumulative $145 billion in bonuses from 2003 through 2007, according to estimates based on company reports.
That’s more than the annual gross domestic product of the Philippines. Lehman has since gone bankrupt, while Bear Stearns and Merrill have been taken over by commercial banks.
Also over at Bloomberg.com is a story on Daschle's ties to a private equity firm, and how many using the revolving door system get rich from their ties to companies when they leave govts, and the return to those companies in the form of influence peddling, effectively making our elected reps simply odious lobbyists, of course. Disgusting.
http://www.salon.com/opinion/greenwald/2009/02/...
http://www.salon.com/opinion/greenwald/2009/02/...
Americans can't imagine this, but the Europeans and some British overseas colonies used to bank with the government. The Post Office used to act as a sort of Savings & Loan there up until they started privatizing and deregulating everything, like that idiot Reagan. Let's all just move our accounts to the Federal Reserve and eliminate the middle-man. Credit us with the profits or put them towards fixing this country and taking care of the less-fortunate, like REAL Christians. End socialism for the rich, fight for capitalism of, by and for the rest of us! Economic democracy, what a concept!
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