even those who's firms did not recieve TARP funds. Basically if he pulls this off it fundamentally changes everything in terms of white collar pay. It won't stop at the Financial Services sector, it will go into all sectors of the economy. Currently, due to the economy, there is a lot of focus on the compensation that executives recieve. It's not like nobody new executives were well paid before the recession. But it's certainly been highlighted and made a focus of criticism. I think there are a lot of people who previously didn't really care that much, but who now are angry and want execs pay brought under control. I doubt if they do this even in Euro Style Socialism. Obama to go after Exec Pay [/url]
The execs don't help themselves by being so morally bakrupt. Read the GM stock sale debacle yesterday.
You got that right.....why not dentists, attorneys, small business owners......why not everybody? If we mandate compensation, why not mandate production, prices, investment, profits? Surely the central government knows best? Where does it stop? Absolutley unthinkable.....this unprecedented intrusion of the central government into the affairs of private parties each giving their consent in a lawful transaction should be a very scary proposition for every US citizen.....the intended consequences are bad enough, the unintended consequences are absolutely staggering. This is madness.....
TOK, do you really think that the central government can achieve the health care savings necessary over time to fund his healthcare initiatives without going after providers????? I might be wrong, but I don't think so.....you're next......Gip, Bobda, you fellas better keep your heads down....... The message is clear.....if you make too much money, if you have achieved in excess of that which this administration and this congress believes should be a societal norm, you are a detriment to society and your wealth will either be garnished in the form suffocating taxation or capped......the fruits of your labor will be confiscated to provide for those that have either performed no labor nor borne fruit. Your level of skill, effort and achievement is not longer relevant in this society. Pelosi, Reid and Obama have deemed it so......look what they are doing to our country.
Gee what about Hollywood folks and pro athletes? Oh wait, many might support the Democratic Party. Wouldn't want to interfere with their ability to fund Obama's folks. And no one dare oppose this confiscation. If so you'll be branded "nasty."
A pro athlete who is overpaid and woefully underperforms does not bring down the rest of the economy with him. He doesn't suddenly disapprove car and home loans or raise individual credit card rates exorbitantly to make up for his own failures. A Hollywood actor just takes your 10 bucks and gives you a lousy performance but his inadequacies do not contribute to your job loss.
....and neither does anybody else. Barney Frank and Franklin Raines had more to do with preciptating this crisis than did anybody in the financial world. This has nothing to do with sound policy-making. It has everything to do with furthering a political and social agenda..... The notion that Nancy Pelosi, Harry Reid, Barack Obama and Rahm Emanuel are better situated to determine compensation policies than are the firms' owners is absurd and contrary to every rational economic model the world has ever known - with one notable exception......Marxism. This is all about continuing the populist war against the investing class of this country and redistributing its wealth to those whose skills, efforts or lack thereof have not produced similar achievement. It's all about not wasting a good crisis..... <object width="425" height="344"><...width="425" height="344"></embed></object>
It's interesting that Frank and Pelosi always seem to be the kingpins of the Dem party that seemingly control a whole voting body and a sitting GOP president. Frank/Pelosi was somehow more powerful than Bush/Cheney....the latter of which was the most powerful duo in office when most of this B/S was going down?
The track record of each as it relates to this situation could not be more clear.......with devastating consequences. Barney was rewarded for his insight and efforts on behalf of the country with the chairmanship.....well done Barney.....and Nancy, et al. It is however perversely consistent with party themes......results don't matter, it's the thought that counts. :roll: <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/63siCHvuGFg&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/63siCHvuGFg&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
So every individual in financial services is responsible for the economy? How about naming off all the remedial legislation that the Democratically controled congress passe in the final Bush years that was vetoed. Let me save you some time, there wasn't any. Bush was blamed for everything from oil prices to hurricanes. Besides pissing away trillions of dollars just what have the Dems done (besides stopping waterboarding of course. The number one crisis facing this nation.)
I believe this to be the crux of the matter. Much has been made of the top earners getting all the breaks and the current trend is to blame them for all the problems. And it is a populist war, Obama has a crisis and is using it to skewer the top earners.
Two things for today. 1. Dave, I find it funny that you believe it is possible that Rush Limbaugh is the leader of the GOP pulling the strings behind the scenes..however you don't believe that Nancy Pelosi and Harry Reid...both elected officials.. Harry Reid is the leader of the Democrats in the Senate (source) and Nancy Pelosi is the (source)Speaker of the House of Representatives. Somehow people like Tip O'Neal were once considered the most powerful men in America holding that title, but because these two hold similar positions..they are somehow less powerful..?? 2. How about we play a fun little game. Let's take all the money in America and divide it up equally. Reset to zero.. Everyone starts with the same.. How long until the wealthy take the poor's money? Sure there would be some who could slide up the economic scale using this model. But by and large, those who know how to make money will find a way to make it again. Those who don't will find a way to give it away. Wanna bet?
Corey, I'm in....when do we start. Can we all agree that you can't change the rules in the middle of the game in favor those who have underperformed, again? Can we agree that we won't take the chips from those who have been successful due to their own devices and redistribute them to those who have not....again due to their own devices or not as the case may be.....if you keep taking my chips, what incentive would I have to play and why would I put forth my best efforts to achieve when at the end of the day, if I don't try or succeed, you'll give me my chips back anyway.....what is it exactly that is worth any meaningful effort? What's the point? :?
Amen to that Corey.....I don't know about you, but I see no reason to repeat their failures with our children's future well-being on the line.
Not at all my man... But sometimes people get what they deserve. I am truly terrified as the GenY kids grow into the voting block. Those are the 'trophy kids" meaning 'everyone gets a trophy'.. They weren't beaten by their parents by and large and they have a very skewed point of view as they have no real recollection of the Cold War. They believe in the earnest nature of the Pelosi types. I think this next 10 year run will tell us a lot about the legacy of America on the big book of civilizations.
Corey The administration's new interrogation policy is that if the terrorists do not talk, they are given a time out. And even if they don't disclose any information they still receive a certificate of participation.