Obama caps Executive pay.

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  • Texas42

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    Obama caps executive pay tied to bailout money - Yahoo! News

    I was just wondering, was this an Executive order? Was this congress's doing? I think these guys are crooks, but I don't think we should have bailed these businesses out. It hurts our system, but on what authority does Obama have in doing this? The article just says, "the Obama Administration."

    At best it is a retroactive legislation. As I understand it, there is a precident on executive orders. They can't legislate. This sounds like legislating to me.

    I guess we should be prepared for socialism and more orders from the Obama administration.

    How did we elect this man, comrades?
     

    JKTex

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    Um, it's restricting certain compensation where "our" money was sent. Would you rather "our" money get spent however the business wants to spend it, like making sure Exec. bonuses get paid? Making sure the $750k a year base salary is made, etc. etc.

    He's putting his foot, what foot he can, down on businesses that took the handout. Anyone that would infuse personal capital into a business to get them on their feet would do the same thing.

    They need to be held accountable for how "our" money is used. Otherwise, they can hand it back over and be on their way.

    BTW, $550,000 is pretty decent annual pay. For someone who's used to making multi-millions, they can easily continue to live well. However, a lot of those businesses have already made their own changes, including CEO's taking $1 salary and no bonus. It's not unheard of, and actually pretty common for high paid exec's to cut their compensation to 0 during hard times. Many companies that are not taking hand-out money have already done that and much more. The majority of American business's do run their business the right way, for success. It doesn't make good media fodder though, so we hear about the other ones, the ones that piss up off and make us watch the news more.
     

    DeadFishEye

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    IMO:
    If you get a bailout you shouldn't be entitle to bonuses and keep your lavished lifestyle UNTIL you pay back every penny you borrowed!
     

    Texas42

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    I'm just saying that it was stupid for the government to give out money. It messes with our free market system (what was left of it). It hurts us overall.

    Now they are back tracking and making up rules by the seat of their pants.

    I think these guys (the guys who are getting bonus' with taxpayer money are crooks, but we should have thought of this BEFORE we gave them the money. Now it is just government interfering with buisness.
     

    JKTex

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    Obama caps executive pay tied to bailout money - Yahoo! News

    I was just wondering, was this an Executive order? Was this congress's doing? I think these guys are crooks, but I don't think we should have bailed these businesses out. It hurts our system, but on what authority does Obama have in doing this? The article just says, "the Obama Administration."

    At best it is a retroactive legislation. As I understand it, there is a precident on executive orders. They can't legislate. This sounds like legislating to me.

    I guess we should be prepared for socialism and more orders from the Obama administration.

    How did we elect this man, comrades?

    I'm just saying that it was stupid for the government to give out money. It messes with our free market system (what was left of it). It hurts us overall.

    Well, that's not what you said. Maybe what you meant, but it came out, well, very different. Like, accusations of socialism, etc. And confusion about when the "bail out" started and who all was involved.

    Now that we're on another subject.... :p I agree it's a mess and the TARP money wasn't used wisely, but in a sense, it's all trial and error right now. We just can't afford the errors. It was expected that anyone taking TARP money would not spend it frivolously and would be financially prudent, but that turned out not to be the case. Some of the companies that took TARP money figured they could go on business as usual as if the TARP money was separate from their day to day business, or thought they cold get away with it. The people involved now, were involved then so it's not as if the last administration dropped a turd in the current administrations lap. They knew about and hand a hand in the turd. They're just having to make adjustments as they go, and smacking down the businesses that took the money is part of it. We have a stake in them now.

    It'll still be a bumpy ride but it's ride we have no choice but to take.
     

    oldguy

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    Well, that's not what you said. Maybe what you meant, but it came out, well, very different. Like, accusations of socialism, etc.

    Clearly we are moving in the direction of socialism to believe otherwise would be naive.
    America turned down this ugly road some years back and this administration will only hasten the trip.
     

    lunchbox

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    at what point do they stop needing more millions its outrageous the money they have and they are well connected and got the government to shell out more for them


    its a bunch of
     

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