the argument could be made that it was political reason's for the bailout whether these salaries are capped or not. Capped: Must be the Dem's trying to control more stuff. Not-Capped: Must be the Rep's trying repaying favors.
Well, it was a Democratic bill, so I don't understand how the GOP can be held responsible for the uncapped wages.
I'm assuming that President Obama's fringe benefits add up to more than $100K annually (housing, car, plane, Camp David, food, entertainment, etc.). Will he limit his overall compensation to $500K? I think not.
President Obama ate $53/lb steak last Wednesday night along with over 30 guests from Congress (spouses included) and keeps the White House thermostat "cranked" because "he's from Hawaii". Dare I say hypocrite? I don't mind the guy playing the class warfare card against Wall Street execs, but he's hardly scaling back on his own accord.
I see the political reasoning a bit different from a Dem POV. I see it as the Dems giving in to public outrage that CEO's are getting big bonuses/astronomical wages when they're relying on the government to bail them out of financial ruin. If taken from an economic POV instead of a political POV the CEO's should get paid what they've always been paid. As long as you believe in any form of trickle down. I've always believed that if the rich stop spending, we're all fucked - so let them earn (spend) away.
Mitch McConnell has threatened filibuster. Reid isn't going to take it to the floor until he's sure he has the votes to get cloture. Whether it's a "turd sandwich" I'm undecided on, but Democrats would wait until they were sure they had the votes either way.
I don't see it, and Harry Reid should call the bluff so he can scapegoat the GOP for being obstructionists. That's a political move that would actually make sense for the Democrats if they believe in this bill. Force GOP members to cave as the economy continues to crumble.
what was the point of bailing the companies out if they are just going to put rules in place that make it more likely that they'll fail again? who is going to want to work at these places if other places are paying more? everyone will just compete for the other jobs and the leftovers will end up at the bailed out companies and of course they'll want to leave as soon as a spot somewhere else opens up.
Well, this didn't take long. http://www.financialweek.com/apps/pbcs.dll/article?AID=/20090203/REG/902039977/1003/TOC
Capping executive salaries for all US companies? I don't think it has any hope of happening. A random, extreme comment from a senator =/= legislation.
Pretty soon legislation will be moot as the Republic will own all. In a socialist/communist government, that's the norm. Its a gradual process, but actually faster than one would think
He's a congressman who happens to head the House Financial Services Committee. This isn't just some freshman rep from Bumfreak, Oklahoma flapping his gums.
It's happening at a dizzying pace right now. I am amazed that the House GOP is actually standing up to it.
Bank of America is dropping fast. Merril Lynch WAS a toxic asset and they're gonna get fucked. http://finance.yahoo.com/news/Bank-of-America-tumbles-on-rb-14256843.html
The point was to avoid a (more) sudden collapse of the economy. There is a reason why few people want to work for the government. The pay sucks. The taxpayers are cheap, cheap bastards who are happier to get third-rate services than to pay for first-rate services. Those people now work for the government, more or less. Too bad for them - they should have run their companies better. barfo
