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418 Comments
- dexter411, on 03/21/2009, -38/+158Whether or not you think it's smart business sense for a company to pay its CEO $30M a year, the idea of federally regulating the salaries of private businesses (i.e. those not receiving taxpayer funds) is a scary prospect.
- JenniferInMO, on 03/22/2009, -54/+107The idiocy on this thread is amazing:
Thread: "Socialism! Get your guns!" Ayn Rand, liberty, "our Founding Fathers would take up arms." Blah, blah, blah!
Me: Uh, Obama has not proposed pay caps. Did you all read the article before seething and foaming at the mouth? He has proposed more "oversight on pay." That could mean more transparency, more information or industry created guidelines. Specifically, it mentions giving shareholders more information and more control over executive pay:
FTA:
"During the presidential campaign, Mr. Obama repeatedly urged regulators to adopt new rules to give shareholders a greater voice in setting executive pay for all public companies. And last month, as part of the stimulus package, Congress barred top executives at large banks getting rescue money from receiving bonuses that exceeded one-third of their annual pay."
Thread: Oh ... "But he's not an American citizen!" "Burn him!" "Throw him in the lake."
Just another nutter thread. - PuterPrsn, on 03/21/2009, -42/+86Idon't see how this can possibly be legal - especially for those companies that have not taken any government funding to stay afloat. What private companies pay their employees is no one's business except the IRS when it's time to calculate personal income taxes.
Here's proof that what Obama is after is complete control over all Americans, from regulating what is acceptable income to what portion should be paid in taxes.
New Zealand is looking better and better. I'm going to start looking for a job there next week. - inboxnews, on 03/21/2009, -39/+82fta... "The new rules WILL COVER all financial institutions, INCLUDING those NOT NOW COVERED by any pay rules because they are NOT RECEIVING federal BAILOUT MONEY. Officials say the rules could also be applied more broadly to publicly traded companies, which already report about some executive pay practices to the Securities and Exchange Commission."
- JenniferInMO, on 03/22/2009, -27/+57Yes, it was much better when we were getting ***** by people who weren't elected to office and who made hundreds of millions of Dollars by looting the treasury, pensions, 401(k)s and the life savings of hard working Americans.
- freedomjoe, on 03/22/2009, -30/+60and again, READ the article, people. Surely you are not this mentally challenged that you drummed up all of this fear from the mention of ....( gasp!) oversight.
It's acknowledged throughout the business community that we need some oversight. We've had none for 8 years, since the Republicans took over congress and the BushMeister decided he was a dictator/decider and got rid of anything standing in the way of his rich friends plundering the land.
It's called oversight. We've had it in this country for a long time, and we weren't commies then and we won't be commies now.
relax, you're starting to sound nuts. absolutely nuts. - kolobcreek, on 03/22/2009, -7/+36How about we tax everyone's wages in Congress at 90% until they get us out of deficit spending. They make what $140k? They can all make $20k till America stops losing money.
AIG and every failed bank in America is nothing compared to the national debt. - theinsane, on 03/22/2009, -13/+40RTFA. The sensationalist title that helped this get to the front page isn't accurate of the content on the page.
- OwlCreek, on 03/21/2009, -47/+73"Socialism in America will come through the ballot box."
(Gus Hall, leader of the Communist Party USA, in an interview
with the Cleveland Plain-Dealer in 1996)
Americans should be terrified that the loons in Washington are even having this discussion. Our days as a free republic are almost over. - waggdogg, on 03/21/2009, -76/+102We are getting more and more sounding like Russia. The people will revolt and raise their voices when it starts to effect them.
- Bartboy919, on 03/22/2009, -1/+24You should go to Zimbabwe, I hear you can make hundreds of billions in minutes.
- ajiabs, on 03/22/2009, -15/+37We are becoming more and more like communist Russia, when they are moving more towards capitalism.
How much, how, why, when,what the executives are paid is the business of the company alone. Government has no role or say in it. If a board is not being responsible , I move on from owning the companies shares.
Only role of government should be figure out if any fraud or criminal activity is happening. - Anomaly100, on 03/22/2009, -11/+33Don't mind me....Just came in to flush this crap...........
http://www.youtube.com/watch?v=hovNmEAR5og&fea ... - elTito, on 03/22/2009, -4/+21That won't do the trick.
Confiscating 90% of their campaign contributions, on the other hand...well now we're talking. - inactive, on 03/21/2009, -33/+49Salvador Allende II
No talk about overhauling government, which is managed far more poorly than any bank ever was.
In California, police and firemen can sometimes earn over $300,000 per year without even a college education - then they retire and get a salary for the rest of their lives - and taxpayers are required to pay for it.
The payroll of a city like San Francisco is vastly bloated and in excess of $2billion with numerous do-nothing jobs earning over $100,000 per year.
America will not re-tool and start making things again like it needs to until the real culprits - bloated government and local taxation - are cut sharply. - epublicus, on 03/21/2009, -38/+53I have long held: Should this nations founders return today they would arm themselves, load and take aim. At whom they would direct their fire is the question. Would it be government for becoming what it is? Or us for allowing it to happen?
The amount of executive (or any other private citizens) pay and compensation is not within the purview of government, nor should it ever be. The day it is allowed is the day your freedom shrivels on the vine. - akhomestead, on 03/22/2009, -6/+21Jennifer, I agree with about half of everything you say because you still think giving government more power will change things for the better. Our government has been taken over by corporate yes men. And this is both sides. If we had one side actually fighting for us we wouldn't be getting worse and worse every election. All we get is quick fixes and bubbles that are caused by government interventions.
I agree these guys get paid way too much, but it's because our government has made it possible, not in spite of them (to big to fail). Find me one big corporation that doesn't have government involvement. You won’t because they all do. It was easier to pay off a politician to pass a law then get the biz by being the best company. Then they get one of their VP's elected and he just funnels the money. Whether he has a D or and R next to his name is just show. Bush was no more a Republican than the man on the moon, he's a ***** crook. And because they wouldn'tt impeach him or investigate him proves NOBODY is fighting for us in DC. - SillyRabbits, on 03/22/2009, -4/+18People should stop using the excuse that he's just "surrounded by bad influences". At some point you have to realize that the reason he's surrounded by all these "bad influences" is that he's just the same. It's just like parents that can't accept that their children are bad and simply say it's the friends they are hanging around with...
- pushforpeace, on 03/22/2009, -5/+18"Here's proof that what Obama is after is complete control over all Americans, from regulating what is acceptable income to what portion should be paid in taxes."
READ THE ARTICLE. He is not dictating what are acceptable incomes he's calling for greater transparency among big business.
And excuse me, have you not read the Constitution? Where exactly does it say the Executive has the power to levy taxes? - lordmike, on 03/22/2009, -4/+17Amazing how everyone is rushing to the defense of billionaire CEO's that wrecked our economy.... Seriously... what have they ever done for you, considering how hard you want to run to their defense? Oh yeah... I know.. someday you'll magically be rich, maybe... if you win the lottery or something... Seriously, I'll never understand why working schmucks fight so hard to protect billionaires... Have the billionaires ever come to protect you?
Anyways, it's all about transparency and not the BS right wing fearmongering expressed in the article anyways... - Semblance, on 03/22/2009, -14/+27Since Republicans have spent the last week bitching and moaning about AIG bonuses, then I'm sure they will support this, right? Right? ....Right?
*crickets* - inboxnews, on 03/22/2009, -18/+30He can pretend all he wants. He IS what Mr. Teleprompter says he is.
- inactive, on 03/22/2009, -3/+15RTFA
give shareholders a greater voice in setting executive pay for all public companies.
give shareholders a greater voice in setting executive pay for all public companies.
give shareholders a greater voice in setting executive pay for all public companies.
give shareholders a greater voice in setting executive pay for all public companies.
give shareholders a greater voice in setting executive pay for all public companies.
give shareholders a greater voice in setting executive pay for all public companies.
give shareholders a greater voice in setting executive pay for all public companies. - Chahrlie5, on 03/22/2009, -4/+16those of you saying "relax" scare the ***** out of me.
Give them an inch at a time, eventually they will take everything.
Stop kowtowing you sheepl - darkmagician777, on 03/22/2009, -0/+11How bout combine your 2 answers - tax on congress 90% and 90% on contributions.
Could even go a step further when congress goes to pay taxes they can check a box that says
[ ] I will be donating my 90% to small business grants to my local community.
[ ] I will donate my 90% tax to directly buy school supplies (books, computers, pencils, etc for students only for underfunded schools (with the added claus " No money will go for the payment of school board officials).
Dare to dream. - pushforpeace, on 03/22/2009, -16/+27Our government had given MORE power to Wall Street in the past eight years, and look at how it works when greed and over-confidence take hold of it. What Obama is doing is putting a check on all this financial manipulation and all those who propelled it throughout the Bush administration. What don't you conservatives and libertarians understand about the ineffectiveness of an unregulated market? It's all unravelling before you, and yet you still have the audacity to criticize the only entity that has the power to rescue the economy?
- centerblack, on 03/22/2009, -10/+21You are confused.
A private business is one that is privately owned. e.g. not a publicly traded company. If your company is listed on the NYSE, then shareholders own the company.
The article is specifically talking about large businesses whose problems could pose a risk to the entire financial system. It also mentions that reporting / other regulations could possibly maybe by applied to *publicly traded companies*. In fact publicly traded companies already report executive salaries to the SEC.
I don't think a government mandated salary cap is a good idea, but I don't think giving shareholders a vote on executive bonuses and salary increases is a bad idea. - inactive, on 03/22/2009, -1/+11Digg likes to be edgey and against the norm.
- bender240, on 03/22/2009, -13/+23All your pay are belong to us.
- LemonMachete, on 03/22/2009, -5/+15You do know these articles are just an excuse for every anti-Obama moron to spew their socialism/terrorist/secret Muslim BS. I seriously doubt that half of them even looked at the article much less read it.
- novenator, on 03/22/2009, -15/+25If you are upset by a center-right president like Obama, who gave tax cuts to 90% of us, I can't wait to see your disillusionment when you arrive in NZ, one of the more proudly liberal places in the english speaking world.
- Cerebron, on 03/22/2009, -3/+12Our market has never, never, never, been completely unregulated.
- inactive, on 03/22/2009, -22/+31id rather have the government controlling these huge corporations than the other way around.
- altidude, on 03/22/2009, -43/+52How much damage can this guy do during a full term based on the first 60 ***** days? Regulating compensation of executives in private business is regulation gone way too far.
- novenator, on 03/22/2009, -4/+13meilong, if you recall, your favorite organization had Salvador Allende killed when they orchestrated the coup by Pinochet, which then led to the deaths of thousands of people, mostly leftists. Is that what you're advocating?
- BassMastr, on 03/22/2009, -12/+21Who cares what it says. It's none of the ***** govts business what someone is paid if they aren't getting govt money. If the share holders don't like it they have the opportunity to put their money elsewhere. While I do agree with what the bill is proposing...this isn't the way to to do it. Govt needs to stay out of it.
PS do you even know what the word coward means? - inactive, on 03/22/2009, -0/+8@BassMastr: "What happened has happened will never happen again whether we make new laws to prevent it or not. "
Man, I bet the people that approved all the legislation (and controls) after the Great Depression said the same thing. They probably figured that nobody would be stupid enough to repeal legislation that is designed to prevent the storm we're currently weathering. Well, they were wrong. Never put it past greedheads to try and wrench money from the public, the government, or each other in any way possible. - inactive, on 03/22/2009, -7/+15Nice hack Job!
- videodroner, on 03/22/2009, -6/+14Thank you akhomestead. Took the words right out of my mouth.
People from both sides are too busy fighting each other; meanwhile, both parties are harming us. - AgeofMastery, on 03/22/2009, -4/+12They're also very picky about who they let in. They even denied entry to one woman because she was to fat. I'll even post the link from Fox News to make it acceptable to you.
http://www.foxnews.com/story/0,2933,312056,00.html
Sure you want to live under such a socialist, nanny state? - clvngodess, on 03/22/2009, -18/+26Like the Dead Kennedy's song said, "Kill, kill, kill, kill the poor, Kill, kill, kill, kill, kill the poor... tonight!"
People are selfish and blind. They want to be on the side that they perceive is winning. Only they don't get the fact that no matter what side they chose, that side doesn't want them in the first place. These people bashing Obama and his administration are distracted and not even in the financial class and the ***** sitting in congress. Their worker bee drones most of them. They're the poor that Jello Biafra sings about. Sigh... Ignorance sometimes truly is bliss. But then again, I'm a witch and I don't float. - inactive, on 03/22/2009, -10/+18Camel's nose...soon they will regulate everything and the economy will collapse. They will use taxes to penalize others that aren't popular and keep the money for themselves.
Is that the "change" you voted for? - PhotoJustin, on 03/22/2009, -3/+11I own (very small amounts) of stock. I'd love to have oversight on how much I pay the people that work for the (tiny bit of the) company I own.
Am I a commie? - Uriah, on 03/22/2009, -12/+20Hi there freedomjoe, I'd like oversight on where you go. By that I mean, we just want a little over sight on where you go, work, home, the gym, etc. You see, some people are terrorists and we need to ensure you're not one of them.
Also, I'd like oversight on how much you're paid, who you're working for, and similar. It's just that, you might be doing something that we don't like.
If you think oversight is nothing, you should have no problem with warrant-less wiretapping, increasing TSA power and regulating where people can protest. You don't have a problem with that oversight do you?
Call it oversight or regulation, either way, it is a reduction in freedom. Perhaps you should change your name, as it doesn't suit your ideology. - roho76, on 03/22/2009, -5/+13I have no idea why you are getting dugg down. It doesn't matter. Unless the government plans on forcing these CEO's at gun point to do their job here they will go overseas an work there. It's common sense.
If government regulated that every teacher in America they could only make $100 bucks a week you wouldn't have anymore teachers.
Other countries will continue to prosper and America will over regulate ourselves into a hole. - JohnGalt01, on 03/22/2009, -3/+11If you took the time to read the article, this is extending beyond those firms that took bailout money.
- stockjones, on 03/22/2009, -1/+8Actually I'm not so sure I think this is right, The Government should not be allowed to control what a company pays its execs, BUT if that company needs money from the government to sustain its surivial then yes I agree completely.
- Stucarius, on 03/22/2009, -26/+33I voted for him. I really believed in him. Now in just a few short months I am watching him along with the Congress destroy a nation. You simply cannot over state what a disaster this is.
Obama is simply not competent to be President. He is making Bush look like George Washington. Surely this will get killed by the Supreme Court. This may be the single most destructive thing attempted against the welfare of the USA including physical attacks.
I know he has a lot of fans here and I know this is a really young crowd but surely even you teenagers and tweens see that this is very very wrong.
He is basically taking the first step in telling all of you that no matter how hard you work or how successful you are the government can simply decide you do not deserve the fruit of your labors. You may think this is just about a few fat cats who deserve it but it is not.
This is in a personal rights sense akin to saying that the Police can walk into your house anytime they wish and decide that you do not really need two computers when the person next door does not have one. There is NO difference. NONE. - novenator, on 03/22/2009, -9/+16nonsense. He only appears leftist because America has shifted so far to the right the last 30 years. By normal Western standards, he is center-right. Of course you've obviously dipped into the kool-aid, so I don't expect you to see reality.
- w3rdn4, on 03/22/2009, -0/+7***** CONGRESS; AND ***** OBAMA; OBAMA TOLD THE AMERICAN PEOPLE HE WOULD NOT ALLOW EXECUTIVE PAY OUTS, BUT CONGRESS WENT AHEAD AND ADDED THAT IN AND THEN OBAMA SIGNS THE BILL. . .. THE ONE HE NEVER READ YOU KNOW. .. ***** INCOMPETENT PEOPLE OPENING UP CANS OF ALL OUT DUMBASS.
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