Obama to set salary caps? oh this is cool

[Mr Bogus]

The commander in chief is now going to dictate how much money some people are allowed to earn! this is great news!! This opens the door to nation wide pay rates established by the Govt!.. any idea how cool this is?

Ballplayers are next in line.. 10M plus a year? nope
Airline execs, promoters, trash collectors, auto techs are all in line to get their pay rate set by the guys in Washington!! I can hardly wait!! Wonder if us IT guys are going to get a raise or not? (we could do bad things to computers ya know) is about time we got some real "CHANGE"

as reported by CNN:

NEW YORK -(Dow Jones)- NEW YORK -(Dow Jones)- If President Barack Obama's target of $500,000 in compensation became a new benchmark for bank executive pay, top officials at regional banks as well as those at heavily criticized big investment banks would take a hit.

 

[skinner.45]

yah... a 1/2 mil a year for a CEO... i dont care how good you run your company oh wait you ran them into the ground... for get these idots..... make them work for minimum wage by the hour see if they show up to work yah right they are all up in arms about 1/2 mil a year... what a joke... better figure out something better than that

 

[dadofthree]

It won't matter to the big guys, they'll just take the rest in bonuses and paid vacations, etc., etc.

 

[Mr Bogus]

It won't matter to the big guys, they'll just take the rest in bonuses and paid vacations, etc., etc.

no sir, he also closed off stock options and any other left handed income gaining loophole...

now just who do you think he will get next?

 

[GSXTacy]

I dont have any problem with this when they are using government money to bail them out. I wish you guys would just chill out a little bit, you gave Dumya an 8 year pass and you want to knock Obama when he hasnt even been in office a month. I have never seen so many political threads started. Frankly Randy, you sound like Rush, everytime the guy sneezes, you guys find something wrong with it.




Ill still ride with ya though, I just might have to turn off the chatterbox!

 

[skinner.45]

hasnt done anything yet..... he'll get me next cut my 30,000 a year down to well whatever unemployment gets you for 6 months.... his current idea is on the right track but it still needs alot of work before im satisfied and i agree PRO athletes $$$ come on ... NBA they dont even try to hustle till about 92 seconds left in the game

 

[WuzzaCBXRider]

"now just who do you think he will get next?"

He's coming after YOU MrB!!!!!!

 

[CTA_Busa_LE]

thing to keep in mind here. It all sounds great but give it two years and it will have been forgotten, things will go back to the way there were and nobody will care.

This issue is a double edged sword. I agree there should be oversight on the companies that have received federal bailout funds, however I don't like the government dictating what a fair rate of pay is. It's simply a no win situation as things are right now.

 

[Mr Bogus]

"now just who do you think he will get next?"

He's coming after YOU MrB!!!!!!

oh great... after seeing that execs make $4700 an hour... I sat down with management and we are going to fix a couple things...

First I am going to become a minority race
I am going to get fired
I am going to get some subsidized housing
I am going on food stamps
I am going to get free health care

AND THEN I finally qualify for Obama bucks!!!!! (and I no longer have to work)

Looks like middle class whites are going to be specifically excluded from any bail out money and some how, I think that sux... what did I ever not do in order to be worthy of some free help?

 

[Mr Bogus]

I dont have any problem with this when they are using government money to bail them out. I wish you guys would just chill out a little bit, you gave Dumya an 8 year pass and you want to knock Obama when he hasnt even been in office a month. I have never seen so many political threads started. Frankly Randy, you sound like Rush, everytime the guy sneezes, you guys find something wrong with it.




Ill still ride with ya though, I just might have to turn off the chatterbox!

dang and I do not listen to Rush even... I was just trying to return the 8 years of updates dished out by liberals a few weeks of their own treatment tends to really rile the worst of them up.. We have not even gone to the calling the commander in chief names yet.. (still working on that list) day you hear me talking politics outside this venue, just shoot me please.... I leave that to the lawyers....

btw didn't I say it was a good thing?

 

[runeight]

I dont have any problem with this when they are using government money to bail them out. I wish you guys would just chill out a little bit, you gave Dumya an 8 year pass and you want to knock Obama when he hasnt even been in office a month. I have never seen so many political threads started. Frankly Randy, you sound like Rush, everytime the guy sneezes, you guys find something wrong with it.




Ill still ride with ya though, I just might have to turn off the chatterbox!

Eight year pass?

The media and Liberal pinheads refused to work with anything Bush 43 offered, ignored signs of a failing housing market and an economy heading where it is today.

I listened to these "pinheads" for eight years. Nope, I'll bash O bobo's sorry azz as long as he is in office.

r8

 

[GPW]

Careful some of you more "healthy" guys will pass from heart failure before he is out of office. Relax.....

 

[runeight]

Careful some of you more "healthy" guys will pass from heart failure before he is out of office. Relax.....

Not me. I'm "lovin it"!

Watching the pinheads.

r8

 

[skydivr]

I want some strings attached to loaning MY money (cause I PAY taxes)...

Frankly, if you (and you are) loaning money to these people, would you think that gives you the right to put the lid on excessive pay/bonuses? Maybe that will provide them incentive to pay the Government back quicker...there should be strings attached to their bailout. Some better run banks out there don't need to borrow $$ from TARP, and they are entitled to pay whatever bonus they want.

Look at it in this light: I'm currently involved in a bankruptcy as chairman of the unsecureds committee. The unsecureds lost a lot. The debtor was paying himself an exhorborant amount of salary (not a bonus tied to performance, but a guaranteed salary), far in excess of what I'd consider reasonable even in a successful, financially solid company. Was shameful; he has 2 MB's; one for him and one for his girlfriend (who also by the way worked for him). Now that he's in CH11, I am objecting to his salary (this guy says he HAS to have $189K/year to survive on a company that generated less than $10MM sales; with that kind of $$ he could pay himself half that, and hire the talent he needs to help run this company better); I want his pay tied to a performance bonus that also benefits recovery of our debt.

Sounds kinda like the bailout, doesn't it?

 

[Powers739]

Isn't that for companies that received bailout assistance. If so, it makes since to me. Why should they be able to reap benefits for a failing company? I think if I loaned that type of money out, I would want them to just pay themselves and get a new jet...

 

[Mr Bogus]

Isn't that for companies that received bailout assistance. If so, it makes since to me. Why should they be able to reap benefits for a failing company? I think if I loaned that type of money out, I would want them to just pay themselves and get a new jet...

The money is an alleged bail out "LOAN" not a free hand out.. What does happen is now the companies become "Govt" controlled.. yes it looks nice on the outside but on the inside, what has happened is that Govt is now running the very infrastructure of the economy.. This has NEVER worked... You are giving the office keys to a group that can not adequately manage their own respective disciplines much less one they do not have a clue about..

This WILL spread outside of these business operations to the private sector.. mark my words... could be in my lifetime, wage caps will be in place by the govt in all sorts of places..

 

[Powers739]

It's going to be interesting times...

 

[BusaBoy86]

oh great... after seeing that execs make $4700 an hour... I sat down with management and we are going to fix a couple things...

First I am going to become a minority race
I am going to get fired
I am going to get some subsidized housing
I am going on food stamps
I am going to get free health care

AND THEN I finally qualify for Obama bucks!!!!! (and I no longer have to work)

Looks like middle class whites are going to be specifically excluded from any bail out money and some how, I think that sux... what did I ever not do in order to be worthy of some free help?

Agreed...Clinton made similiar promises and middle class Americans never saw anything...setting pay rates so everyone gets paid the same...kinda seems a bit like communism to me

 

[99'busa]

comment already mentioned

 

[99'busa]

The money is an alleged bail out "LOAN" not a free hand out.. What does happen is now the companies become "Govt" controlled.. yes it looks nice on the outside but on the inside, what has happened is that Govt is now running the very infrastructure of the economy.. This has NEVER worked... You are giving the office keys to a group that can not adequately manage their own respective disciplines much less one they do not have a clue about..

This WILL spread outside of these business operations to the private sector.. mark my words... could be in my lifetime, wage caps will be in place by the govt in all sorts of places..

I still am in favor of it for now. If a co. is looking for any kind of assistance from the govt. (in other words US tax payers) than they should have their books open for us to see how things are being spent and take financial cuts of their own. This is the responsible thing to do. If nothing else this will make companies think twice before asking us to bail them out. The govt should be the last resort.