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Old 02-04-2009, 11:08 AM   #1
longride
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Nothing like a little drama from Obamalama! He likes drama with his pork barrel bill. He thinks he's going to actually 'fix' something. As if.

Finance - Obama: Catastrophe coming if Congress doesn't act
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Old 02-04-2009, 11:43 AM   #2
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He also put a $500K cap for Executive Compensation for any and all corporations On The Take.
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Old 02-04-2009, 11:45 AM   #3
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Yay!!!!!!!!!!!!!!
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Old 02-04-2009, 11:52 AM   #4
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He also put a $500K cap for Executive Compensation for any and all corporations On The Take.
And how did he do that? Divine Decree? He's a king now? The Prez can just order private industry salary levels by fiat? Why stop with bailed out firms? Isn't in the "public interest" for the govt to set "fair" pay levels?

Watch the idiots cheer this turn of events.
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Old 02-04-2009, 01:45 PM   #5
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I think its funny that AIG, Bank of American and Citigroup are not included in the salary cap. Aren't they the some of the biggest offenders?? And didn't one of them just drop a ton of money on the super bowl??
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Old 02-04-2009, 02:28 PM   #6
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I think its funny that AIG, Bank of American and Citigroup are not included in the salary cap. Aren't they the some of the biggest offenders?? And didn't one of them just drop a ton of money on the super bowl??
SCL- economics aren't your strong suit, huh?
So, let's give you a little breakdown before these capitalist pigs tear your statement apart.
1- AIG was highly leveraged into the mortgage business. You know the business- right? Uncle Sam comes along to the bankers in the 90's (the Clinton yrs) and tells lenders to make it easier for those that AREN'T qualified. Well, guess what blew up? Under qualified people defaulted on loans they shouldn't have made in the first place.
AIG made mistakes, but instead of letting AIG fail (like any capitalist would do) the Gummit said "here's $80bil- throw a party"- "you're too big to fail"
Blame your congressman for voting for that one.
2- BOA- spend $10mil on advertising for Superbowl. It was a contract signed in July of 2008- they already paid that money out. Just 'cause gummit cheeze is paying the bills doesn't advertizing stops. Lame arguement for BOA.
3- Citi's plane was ordered before the crash, too. They cancelled it.

The rules are stupid. Follow this logic. Fortune 1000 businesses all over pay CEOs millions to do the hardest thing in the world. Run Fortune 1000 companies profitably. If the "restrictions" go into force do you think that the "best" people for the job will actually apply for those jobs or do you think the "b- team" will be hired? If the "b- team" is just that- plan B odds are that the business's survival rate will be near zero. Don't cha think?

Welcome to the real world and congrats on taking the on politics on MO. It's a dod eat dog world and you're wearing the milkbone underwear.
Stick around- we really get into all kinds of thread oddities here.
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Old 02-04-2009, 02:52 PM   #7
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I think its funny that AIG, Bank of American and Citigroup are not included in the salary cap. Aren't they the some of the biggest offenders?? And didn't one of them just drop a ton of money on the super bowl??
Yes, BOA spent $10,000,000 on Super Bowl fun for their execs and guests. I'm going to find a bank that didn't need a bailout and put my money with them. If BOA can't be profitable with all the frikin fees and crap they charge, they are hopeless.

As for capping the salaries, if the banks get our tax dollars, why the hell wouldn't you want some sort of oversight? I think they should audit the living **** out of all of them once they take tax money and fine them double for every dollar of tax money that went into bonuses, jets, executive retreats, etc. These ****ers have been running rampant in greed and excess for decades. They couldn't even manage to stay afloat, so now somebody has to first wipe their ass and then kick it.
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Old 02-04-2009, 04:21 PM   #8
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As for capping the salaries, if the banks get our tax dollars, why the hell wouldn't you want some sort of oversight? I think they should audit the living **** out of all of them once they take tax money and fine them double for every dollar of tax money that went into bonuses, jets, executive retreats, etc. These ****ers have been running rampant in greed and excess for decades. They couldn't even manage to stay afloat, so now somebody has to first wipe their ass and then kick it.
You can't run a private business with Govt oversight capping salaries. The guys that have the knowledge to pull these companies out of the gutter will never seek these positions if they are impeded by salary rules. Not to mention that our Constitution forbids the intrusion of the feds in setting rules for those very "private" businesses. As much as you would like to think that this is a good idea it's really a recipe for failure.
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Old 02-04-2009, 04:24 PM   #9
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Either bail them or don't. Stay out of running their business unless they Gov wants to run them all. If you don't trust them, don't bail them out.
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Old 02-04-2009, 04:55 PM   #10
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Either bail them or don't. Stay out of running their business unless they Gov wants to run them all. If you don't trust them, don't bail them out.
We should never have bailed them out. All it does at best is prolong the misery. However, since the government has decided to socialize the financial industry, they might as well go all the way.
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