Jesus F Christ - Executive Pay Caps Cut Out Of Stimulus

[COLGATE4]

We've been sold down the road again!!! After all the brave talk about making Wall Street and Bankers who got us into this ungodly mess responsible and subject to SOME scrutiny and control, once again our fearless Democratic legislators waited until they got this POS into Conference Committee to gut any restriction on these bastards paying themselves multi million dollar packages while their workforce is being shoved out the door with both hands.
I really believed that with Obama and a Democratic majority in both houses that we had the chance of a lifetime to right some very wrong things, but once again, all this demonstrates is that legislators, regardless of party, are opportunists who only seek to maintain their own advantage and elect ability. :grr:

[LoZoccolo]

1. They were gonna get around it anyway, but now it's the Republicans' fault.

Score one for Obama.

[Donnachaidh]

3. uhh -- no it's not

BOTH sides get an F for this little clusterf*ck.

[LoZoccolo]

6. Nope. n/t

[HowHasItComeToThis]

14. WON'T IT BE FUNNY IF...

OBAMA WON'T SIGN THE BILL.... SAYING YOU ALL F'D IT UP....


IT IS NOT WHAT THE PEOPLE WANT

[The Brethren]

17. Thank you for saying that.

Unfort. this is being touted as one party vs. the other issue. But it isn't. It's an American issue. And some of the "you scratch my back and I'll scratch yours" behind the scene deals going on with both sides and the money whores is disgusting.

[Thrill]

2. Why does that need to be in a stimulus Bill?

.

[Donnachaidh]

4. probably the only way they were going to actually enforce it. n/t

[Thrill]

7. LOL you acually think it would be enforced?

Its one thing to cap the salaries and bonuses of people taking TARP funds. This is a totally different thing.

[The Brethren]

22. There's actually a lot more

then so called "stimulus" in this bill.



Full text of the Stimulus Plan ("American Recovery and Reinvestment Act of 2009"): Orig. House version -- http://appropriations.house.gov/pdf/RecoveryBill01-15-09.pdf , House spreadsheet -- http://spreadsheets.google.com/ccc?key=pV-c6t5fOVmNorqMpHvnCMw ; Senate version -- http://appropriations.senate.gov/News/2009_02_02_The_American_Recovery_and_Reinvestment_Act_of_2009.pdf ; and Senate compromise -- http://www.govtrack.us/congress/billtext.xpd?bill=h111-1 , Text and $$$ details of Senate compromise -- http://appropriations.senate.gov/News/2009_02_08_UPDATED_Appropriations_Provisions_of_American_Recovery_and_Reinvestment_Act.pdf?CFID=4043629&CFTOKEN=40573040 in addition to -- http://readthestimulus.org/amdth1.pdf ; along with -- http://www.readthestimulus.org/ .

[sandnsea]

5. Jesus P Christ - This never had anything to do with pay caps

:grr:

[shraby]

8. Isn't that supposed to be in the financial

bailout bill? The stimulus package and the financial bailout that Geithner is working on are two separate things.

[ComtesseDeSpair]

10. I agree...

That doesn't belong in the stimulus. I don't think this is a problem. Now, if it isn't included in other legislation, THEN we can get angry.

[undergroundpanther]

9. Pay caps reduce the

incentive for GREED to interfere with the job.
Why do companies have to bribe this so called "talent" that make their companies crash? Pay lavishly those who shamelessly cook the books by giving them obscene bonuses? Why hire the same scum from the same"talent pool" at all? To me obviously they are failures that talk a good show, tell the owners of companies what they want to hear,always"EVER FORWARD" preaching the liars gospel of growth forever.I think much better talents at managing exist in better people overlooked in favor of fast talkers selling lies .Good People overlooked by stupid companies beholden to the cult of CEO.

Might I suggest fire the fast talkers and hire a person struggling in poverty, trying to climb out,trying to make ends meet to help you manage money. The poor and working poor in many cases are responsible people,those who can work will work if given a chance to,and living in poverty makes sure you know how much things cost,right down to the last nickle.Because poverty creates the strictest of budgets on those who try to make a legit existence.
Unless of course your company has no legit reason to exist,no purpose beyond being a cash cow for the parasites of bad 'talent'.

[terisan]

11. Pay caps for every industry/corporation getting govt money? That would include GE (parent of

MSNBC, and possibly other corporations that support Democrats.

Jeff Immelt , CEO of GE who advises Obama administration, gets a multi milliondollar paycheck and has come out against pay caps.

What is the position of Google billionaires and Warren Buffett on pay caps?, How about David Geffen? or maybe George Soros? or Hollywood execs and stars.


I'd like to see them all limited in salary at x times the average worker but I don't think most of the big money Democratic supporters are for pay caps in any industry---hits too close to home.

Lesson: multimillionaires have more in common economically with each other than they do with us. Keith Olberman is getting 7.8 million--if GE is getting loan guarantees should his pay be capped?

[GliderGuider]

12. People who expect different behaviour from this parcel of rogues are hopelessly naive.

As terisan hints above, politicians as a class do not set the socioeconomic agenda, they merely implement it. The plans themselves are formulated by very different people. It's in politicians' best interests to make it seem as though they are at the top of the power hierarchy. In fact they are not. They simply have access to the levers of legislation, and those levers get dutifully pulled on behalf of the true power-brokers of the system -- those whose names you rarely hear, and who are definitely NOT subject to electoral recall. People think politicians run the show because the system has been tuned over the years to make it look like that -- it's part of the curtain drawn across our minds to keep us from seeing (and interfering with) the men behind it.

Anyone who thought that this situation would magically change simply because the political lever-pullers had a different party affiliation doesn't understand how the system works. You have bought into the story, not the reality.

This idea is fleshed out a bit more here: Political Will, Political Won't. The article is written from an ecological perspective, but exactly the same dynamics are playing out in the economic sphere.

[Bigmack]

16. YES!!!!!

When you're "right" as in correct, you're "right!" Ms Bigmack

[dixiegrrrrl]

19. Verily.

[girl gone mad]

13. Even that little slap on the wrist..

was too much for them to have to take.

Our government is making revolution inevitable, one baby step at a time.

[Still Sensible]

15. What are you talking about?

The stimulus package isn't sending money to any "...bastards paying themselves multi million dollar packages..." There is nothing in it for "...Wall Street and Bankers."

[The Brethren]

18. Part of the stimulus plan is going to companies

supposedly to create more jobs by investing in companies. Hence the concern about pay caps to execs. of these companies/recipients and restrictions. One paper, everything can look well intended and aboveboard. But if execs. once again use government monies for their personal gains then this is a waste.

[SlowDownFast]

20. Sharpening my pitchfork. It's getting very sharp. Rec'd. n/t

[4_TN_TITANS]

21. This is a golden opportunity for Obama

to call out his own party and demand sacrifices from the CEO's before he will sign it. Otherwise, the Repubs will jump on the chance to claim it was all smoke and mirrors.